CITY AND COUNTY PROGRAMS

Denver
Affordable Housing Ownership Program

Assistance Available:
The Office of Economic Development & Opportunity has established a homeownership program designed to assist moderate income residents in purchasing single family homes and condominiums.

The MetroDPA program is specifically designed to assist with up to 5% of the purchase price in a 0 interest forgivable second mortgage.

Qualifications:
Your annual income cannot exceed $139,200. Buyers are not required to be first time homebuyers. The buyer’s debt to income ratio cannot exceed 45%. A minimum FICO score of 640 is required. Some buyer cash at closing may be required.

El Paso County
Turn Key Plus Mortgage Program

Assistance Available:
The El Paso County Turn Key Plus Mortgage Program offers qualified buyers an up to 4%, 0 interest second mortgage. 60% of the loan is forgiven over the first 60 months. The remaining 40% is forgiven on the maturity date of the first mortgage (30 years). Funds are limited.

Qualifications:
The property purchased must be in El Paso County. This includes the City of Colorado Springs. The buyer’s household income cannot exceed $120,120. The maximum debt to income ratio is 45%. The buyer must have a minimum FICO score of 640 to receive a 4% loan. For an FHA loan FICO scores of 640 - 659 receive a 3.5% loan. There is no maximum purchase price and no first time home buyer requirement. The buyer must complete a free homebuyer education course.