Grand County Down Payment Assistance Program

What is Grand County Down Payment Assistance Program?

Grand County Down Payment Assistance Program is a deferred second loan for homebuyers in Grand County, Colorado.

• Grand County provides deferred DPA for local workers and residents purchasing in this mountain resort area near Winter Park and Granby. 0% interest; no monthly DPA payments.
• Deferred DPA for Grand County residents.
• assists buyers in high-cost mountain resort community.
• 0% interest.
• no monthly payments.
• Funding comes from Local Government.

How much assistance does it provide?

Grand County Down Payment Assistance Program offers up to $10,000 in assistance.

• 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?

Grand County Down Payment Assistance Program 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?

Grand County Down Payment Assistance Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Grand County Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Income at or below 80% AMI; Grand County high-cost area.
• 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?

Grand County Down Payment Assistance Program can be used for Single Family, Condo, and Townhouse.

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

Where does it apply?

Grand County Down Payment Assistance Program serves buyers purchasing in Grand County, Colorado.

• The program targets specific areas: Grand County (Winter Park, Granby, Fraser, Hot Sulphur Springs).

How do you apply?

Applications for Grand County Down Payment Assistance Program 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.