Glenwood Springs Community Development DPA

What is Glenwood Springs Community Development DPA?

Glenwood Springs Community Development DPA is a deferred second loan for homebuyers in Glenwood Springs, Colorado.

• City of Glenwood Springs provides deferred-payment DPA to first-time homebuyers in Glenwood Springs. Coordinates with Garfield County Housing Authority for county-wide assistance. High-cost mountain resort area.
• DPA for Glenwood Springs first-time buyers.
• deferred repayment.
• mountain community.
• coordinates with Garfield County Housing Authority.
• Funding comes from Local Government.

How much assistance does it provide?

Glenwood Springs Community Development DPA provides assistance worth 20% of the purchase price, as set by the program.

• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Glenwood Springs Community Development DPA is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Sale, Refinance, and Maturity Date.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Glenwood Springs Community Development DPA is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Glenwood Springs Community Development DPA limits household income to 80% of the area median income, which varies by county and household size.

• Income at or below 80% AMI; Garfield County.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Glenwood Springs Community Development DPA can be used for Single Family, Condo, and Townhouse.

• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Glenwood Springs Community Development DPA names first-generation buyers among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Glenwood Springs Community Development DPA serves buyers purchasing in Glenwood Springs, Colorado.

• The program targets specific areas: City of Glenwood Springs, Garfield County.

How do you apply?

Applications for Glenwood Springs Community Development DPA go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved homebuyer education required.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through First-Come-First-Served, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.