Impact Development Fund Routt County DPA Program
Impact Development Fund Routt County DPA Program is a deferred second loan for homebuyers in Steamboat Springs, Colorado.
The program asks for
- First-time homebuyer — the program sets its own definition
- The home is occupied as a primary residence
- A minimum 620 credit score
- A completed homebuyer education course, through HUD-approved homebuyer education required
- Residency: State Resident
- Citizenship or immigration status: U.S. Citizen or Permanent Resident
- Live or work in Routt County; income up to 120% AMI; high-cost mountain market
- A home in Routt County
It doesn’t cover
- Manufactured homes
- Households above 120% of area median income
- Homes outside Routt County
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Income limit
120% of Routt County’s area median income
HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.
Where it applies
Routt County’s homesRoutt County’s homes, and the ones this program accepts
- 52.2% single-familysingle-family
- 12% townhousetownhouse
- 5.6% 2–4 units2–4 units
- 25.1% 5+ unitscondo & apartment buildings (5+ units)
- 5.1% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$854,700
Routt County median home value
31.3%
built before 1980
U.S. Census Bureau, ACS 2024 5-year. More about buying in Routt County
How to apply
How to applyThree steps, in this order
Take a homebuyer education course
Required by the program, through HUD-approved homebuyer education required.
Contact the administering agency to reserve funds
Funds are reserved through First-Come-First-Served, and are subject to availability.
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 homebuyer can take it to a lender or housing counselor.
Questions about this program
What is Impact Development Fund Routt County DPA Program?
Impact Development Fund Routt County DPA Program is a deferred second loan for homebuyers in Steamboat Springs, Colorado. Impact Development Fund's Routt County-specific DPA program provides deferred-payment assistance to workers and residents in the Steamboat Springs area. Separate from IDF's statewide Colorado DPA Fund; community-specific with local funding partners. DPA for Routt County workforce. Steamboat Springs area. deferred repayment. separate from statewide IDF fund. community-specific program. Funding comes from Nonprofit and Local Government.
Do you have to pay it back?
Impact Development Fund Routt County DPA 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?
Impact Development Fund Routt County DPA Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 620. A homebuyer education course is required, through HUD-approved homebuyer education required. Residency requirement: State Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Live or work in Routt County; income up to 120% AMI; high-cost mountain market.
What are the income limits?
Impact Development Fund Routt County DPA Program limits household income to 120% of the area median income, which varies by county and household size. Income up to 120% AMI; Routt County high-cost ski resort 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?
Impact Development Fund Routt County DPA Program can be used for Single Family, Condo, and Townhouse. New construction is eligible. Manufactured homes are not eligible.
Where does it apply?
Impact Development Fund Routt County DPA Program serves homebuyers purchasing in Steamboat Springs, Colorado. The program targets specific areas: Routt County (Steamboat Springs, Hayden, Oak Creek).
How do you apply?
Applications for Impact Development Fund Routt County DPA Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Also for Routt County homebuyersOther programs open to Routt County homebuyers
- Yampa Valley Housing Authority Down Payment Assistance ProgramDeferred
- CHFA SmartStepUp to $25,000
- Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado)Up to $22,000
Whether two programs can be combined is up to each agency. Ask before you apply.
All 84 programs for Routt CountyProgram terms are set by the administering agency and can change; confirm on the official site before you apply.