San Luis Valley Habitat for Humanity Homeownership Program

San Luis Valley Habitat for Humanity Homeownership Program is a forgivable loan for homebuyers in Alamosa, Colorado. San Luis Valley Habitat for Humanity provides affordable homeownership through sweat equity in rural San Luis Valley (Alamosa, Conejos, Costilla, Rio Grande, Mineral, Saguache counties). Coordinates with SLVHC. Below-market mortgage financing. Affordable homeownership for San Luis Valley families. rural Colorado. sweat equity model. below-market mortgage. partners with SLV Housing Coalition. Funding comes from Nonprofit, Federal, and Private.

San Luis Valley Habitat for Humanity Homeownership Program is a forgivable loan, so the balance is forgiven once the program's conditions are met. Repayment is triggered by Sale and Refinance. The assistance is recorded in 1st Lien (Habitat mortgage) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

San Luis Valley Habitat for Humanity Homeownership 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. A homebuyer education course is required, through Habitat homeownership education required; SLVHC partners. Residency requirement: State Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Income 30-60% AMI; San Luis Valley counties; sweat equity required; Habitat-built home.

San Luis Valley Habitat for Humanity Homeownership Program limits household income to 60% of the area median income, which varies by county and household size. Income 30-60% AMI; San Luis Valley AMI (rural, lower income thresholds). 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.

San Luis Valley Habitat for Humanity Homeownership Program caps the purchase price as follows: Habitat-built homes at affordable below-market prices. Eligible property types include Single Family. New construction is eligible. Manufactured homes are not eligible.

San Luis Valley Habitat for Humanity Homeownership Program serves homebuyers purchasing in Alamosa, Colorado. The program targets specific areas: San Luis Valley: Alamosa, Conejos, Costilla, Rio Grande, Mineral, Saguache.

Applications for San Luis Valley Habitat for Humanity Homeownership 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.