IMPACT Program

IMPACT Program is a shared-appreciation loan for homebuyers in Durango, Colorado. IMPACT is HomesFund's program tier funded by socially-responsible impact-investor capital (foundation PRIs, religious endowments, individual investor lenders to HomesFund's CDFI loan fund). Capital is loaned to HomesFund at below-market rates, allowing HomesFund to deploy as DPA 2nd mortgages with a 15-year affordability covenant (deed restriction) on certain loans. 80%-100% AMI tier. Shared-appreciation note -- no monthly payment, repaid at sale/refi/transfer or maturity. HomesFund's IMPACT-fund-capitalized tier of shared-appreciation DPA (capital sourced from socially-motivated impact investors / philanthropic loan fund). 80%-100% AMI tier. loan amounts $15,000-$100,000+. Same shared-appreciation note structure -- no monthly payment, principal + appreciation share at sale/refi/transfer or 30-year maturity. Some IMPACT-funded loans carry a deed-restriction (affordability covenant) per the impact investor's terms -- verify per loan. Funding comes from CDFI, Foundation, and Private Investors.

IMPACT Program is a shared-appreciation loan and is repaid under the terms set by the administering agency. Repayment is triggered by Sale, transfer, cash-out refi, loss of owner-occupancy, or 30-year maturity. The assistance is recorded in 2nd position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

IMPACT Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 620 minimum FICO. A homebuyer education course is required, through HomesFund HUD-approved Homebuyer Education + 1-on-1 counseling. Residency requirement: Owner-occupied; 5-county service area. Citizenship or immigration status: Per 1st-mortgage AUS. Some IMPACT-funded loans carry a 15-year affordability clause (deed restriction) ensuring long-term affordability per HomesFund's published construction-loan companion product. Standard HomesFund underwriting. Owner-occupancy. Asset/net-worth caps. Subject to IMPACT-fund availability.

IMPACT Program limits household income to 100% of the area median income, which varies by county and household size. 80%-100% AMI band. Per Freddie Mac DPA One: $60,900 to $137,200 (household-size and county dependent). 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.

IMPACT Program caps the purchase price at $640,000. Eligible property types include SFR, townhome, condo, PUD, manufactured w/ land. New construction is eligible. Manufactured homes are eligible.

IMPACT Program serves homebuyers purchasing in Durango, Colorado.

Applications for IMPACT Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through HomesFund underwriting; subject to IMPACT-fund capital availability. 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.