Do you need help purchasing a home?
Want a place to call your own?
Want to own your own home for the same price as you probably are paying for rent?
This non-profit organization makes home ownership affordable by making an investment of up to $25,000 into a home for you.
For example, the purchase price of a home is $100,000. If the non-profit organization invests $25,000 into the home for you then your loan is only for $75,000. This lowers your monthly house payment.
Qualifications for the program are as follows:
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You haven't owned a home in the last three years.
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You must be able to qualify for and obtain a conventional loan.
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You must attend a first time home buyers work shop. Call for a class schedule.
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You must be a U.S. citizen or have "legal status".
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You must be able to contribute up to $1,000 toward appraisal, inspection etc...
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Your gross annual household income does not exceed 80% of the area median income.
Family Size - Annual Income
One-$39,650.
Two-$45,300.
Three-$51,000.
Four-$56,650.
Five-$61,200.
Six-$65,700.
WIth the program you can purchase an existing or new home in El Paso county up to $160,000 that meets the program guidelines.
The program also builds stunning energy efficient homes that participants in the program may be eligible to purchase. Examples are below:
New single family home in the historic westside. 3 bedrooms, 2 1/2 baths, one car attached garage. 1250 square feet of living space, stucco finish, new appliances package to include washer & dryer. Sale price $185,000. Homeowner investment is only $135,000. (does not include closing costs)
New single family home in NE Colorado Springs school district 20. 3 bedrooms, 2 1/2 baths, 2 car detached garage, 1270 square feet of finished living space. Near Woodmen and Powers. Sales price approximately $210,000. Homeowner investment is approximately $150,000.
Testimonial: "My husband and I have three kids and we are able to own an amazing home for less than renting a two bedroom apartment." Homeowner since March 2007.
Since 1996, this non-profit organization has been serving limited income families in El Paso County and the City of Colorado Springs, Colorado by providing quality, affordable housing opportunities.
Their three core objectives are:
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To provide affordable home ownership opportunities for families with limited incomes.
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To assure the quality and affordability of housing opportunities for future generations of low-income families.
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To combat community deterioration in economically disadvantaged neighborhoods by promoting the development, rehabilitation, and maintenance of affordable housing.
To attend a class regarding this program or to schedule a brief one-on-one meeting regarding the program contact Kim Koller at 719-201-2687.
To contact Kim Koller by e-mail please fill out the form below:
