Douglas County Shared Equity Program
Posted by TheHomeCart.com on Thursday, October 16th, 2008 at 8:51pm.Douglas County Housing Partnership (DCHP) has recently rolled out a "Shared Equity" with Housing Partnership program. DCHP will provide downpayment assistance funds up to 20% or $50,000, whichever is smaller, to help bridge the difference between lender requirements and the buyers resources.
The funds are a deferred loan which must be paid back upon sale or refinance. Upon such event the funds must be reimbursed at the same % of investment. For example, if DCHP invests 20% for downpayment of your home, they'll get 20% back whether or not your home appreciates.
Eligible parties include:
First-Time Homebuyers and persons who have not owned a home in the previous 3 years, single parents that have owned prior with a spouse, and displaced homemakers.
People who work within the limits of Douglas County.
Income limits apply based upon % of the Area Median Income.
Eligible properties include Single Family Homes less than $250,000 and Townhome/Condos less than $225,000.
DCHP ultimately makes the final decision and of course other conditions apply.
Our select team here with TheHomeCart.com and Brokers Guild - Cherry Creek Ltd is committed to meeting all of your Colorado real estate needs. We use the latest technology and utmost degree of customer service to enhance your real estate buying and selling experience. Our team services the Denver Metro area helping buyers and sellers with homes, townhomes, condos, lofts, and investment properties. We specialize in offering relocation assistance for local, national and international buyers of homes and properties here in colorful Colorado. For more information about buying or selling your Denver area home, please contact us here at TheHomeCart.com.
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