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Habitat for Humanity Loveland-Berthoud Homeownership Program

Loveland, Colorado

Last verified
See what you qualify forOfficial program site →
Income limit

60% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven once the program's conditions are met

What is Habitat for Humanity Loveland-Berthoud Homeownership Program?

Habitat for Humanity Loveland-Berthoud Homeownership Program is a forgivable loan for homebuyers in Loveland, Colorado.

  • Habitat for Humanity Loveland-Berthoud provides affordable homeownership through sweat equity for low-income families in the Loveland and Berthoud area of Larimer County. Below-market mortgage; no traditional down payment.
  • Sweat equity homeownership for low-income families in Loveland/Berthoud area.
  • affordable below-market mortgage.
  • builds community.
  • no traditional down payment.
  • Funding comes from Nonprofit, Federal, and Private.

Do you have to pay it back?

Habitat for Humanity Loveland-Berthoud Homeownership Program is a forgivable loan, so the balance is forgiven once the program's conditions are met.

  • 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?

Habitat for Humanity Loveland-Berthoud Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Habitat homebuyer education program
  • Residency: State Resident
  • Citizenship or immigration status: U.S. Citizen or Permanent Resident
  • Income 30-60% AMI; sweat equity hours required; purchase of Habitat-built home

The program excludes

  • Manufactured homes
  • Households above 60% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Habitat for Humanity Loveland-Berthoud Homeownership Program limits household income to 60% of the area median income, which varies by county and household size.

  • Income 30-60% AMI; Larimer 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?

Habitat for Humanity Loveland-Berthoud Homeownership Program can be used for Single Family, Condo, and Townhouse.

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

Where does it apply?

Habitat for Humanity Loveland-Berthoud Homeownership Program serves buyers purchasing in Loveland, Colorado.

  • The program targets specific areas: Loveland and Berthoud, Larimer County.

How do you apply?

Applications for Habitat for Humanity Loveland-Berthoud Homeownership Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Habitat homebuyer education program.

  2. Contact the administering agency to reserve funds

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

  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.

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