While buying a home in Northern Colorado’s tight housing market may seem daunting, a variety of organizations offer help along the way.
Larimer Home Ownership Program: Administered by the Loveland Housing Authority, the program offers down-payment and closing-cost assistance to low- and moderate-income families purchasing their first home.
It does not help with purchases within Fort Collins city limits. Families may not earn more than 80 percent of the area’s average household income: $41,200 for one person; $47,050 for a family of two; $52,950 for a family of three; $58,800 for a family of four; or $63,550 for a family of five.
The maximum loan amount is $10,000 with an interest rate of 2 percent. Applicants must contribute 1 percent of the home’s purchase price out of pocket.
Information: lovelandhousing.org or call 970-667-3293
Fort Collins home buyer assistance:
The city of Fort Collins provides loans to income-eligible households to cover a portion of the required down payment and closing costs for buyers who have not purchased a home within the past three years.
The loan is to be paid back in full either when the house is sold, transferred out of the buyer’s name, rented, or if the buyer seeks a second lien, such as a home equity loan. Eligible households can receive a loan of up to 5 percent of a home’s purchase price — with the loan topping out at $15,000 — to cover down payment, closing costs or both.
The purchase price and appraised value of the home must be less than $250,000.
Information: fcgov.com/socialsustainability/hba.php or 970-221-6812.
Home buyer education
Neighbor to Neighbor: The free class will help you determine how much home you can afford, budget for upfront and ongoing expenses, recognize how your credit relates to home buying; and discover resources for down-payment assistance and affordable housing.
It fulfills education requirements for many lending programs including the city of Fort Collins, Larimer Home Ownership Program, CHFA and others.
Learn about upcoming classes at n2n.org or 970-488-2364.
GreenPath Debt Solutions: The nonprofit credit counseling program offers housing advisers who can help you understand the home buying process and prepare for the requirements of home ownership. Topics covered include the types of mortgages, loan pre-qualification, home appraisals, the Realtor’s role and home inspections.
Information: greenpath.com or 800-550-1961.
GreenPath Debt Solutions: The nonprofit credit counseling program offers debt counseling, credit report reviews, debt management and bankruptcy counseling. Information: greenpath.com or 800-550-1961
CSU Extension, Larimer County: CSU extension offers nteractive classes that explore how to create and use a spending plan, identify spending leaks, use credit cautiously and more. One-on-one meetings are designed to help you gain financial stability.
Information: colostate.edu/Depts/CoopExt/LARIMER or 970-498-6000.
Not seeing the answer to your questions?
Please feel free to call Will Malizia directly at: 970.290.7098. He is more than happy to assist or point you in the direction of a credible solution for your needs.
Thank you for tuning in and considering Will for the purchase of your next home.
Will Malizia, Licensed Broker Associate | C3 Real Estate Solutions in LovelanD, Colorado