To make sure funds are available to those who need it most, we have some requirements that applicants need to meet before
they can apply. To find out if you’re eligible, read below.
If you meet the following requirements and have selected an eligible property, have your lender complete an application.
1) The applicant household’s adults must not have owned a home during the three years prior to purchasing a home in the program.
Exceptions may be made if the applicant is a single parent, a displaced homemaker or if they are caring for live-in elderly
(62 years or older) relative who has owned their own home (in order to qualify for this exception, the elderly relative may
no longer own the home in question);
2) At least one household member or joint applicant must have lived in Arapahoe County for the past 12 consecutive months, OR
worked in Arapahoe County at least 20 hours per week for the past six consecutive months (if a joint application, at least
one adult must meet this requirement);
3) You must have a minimum of $1,000 in verifiable, available funds to put towards your down payment and closing costs;
4) Your credit bureau reports must evidence timely debt repayment. If you have had a bankruptcy, the bankruptcy must have two
years of discharge with the last 12 months free of late payments;
5) The total of your proposed mortgage payment (principal, interest, taxes, & insurance), homeowners association dues (if any)
and monthly consumer debt cannot be more than 45% of your gross monthly income.
6) You and all other applicants must be U.S. citizens.
7) You qualify as ‘low or moderate income’ resident, which means your total household income does not exceed the following:
Number of people Household
in Household Income
1 $40,150
2 $45,900
3 $51,600
4 $57,350
5 $61,950
6 $66,550
7 $71,150
8 $75,700
These figures are based on 80% of the Denver Metro Area Median Income (AMI) and are subject to change. Contact CHAC if you
are close to the limit.
What if I have more questions?
Contact Colorado Housing Assistance Corporation for questions about our program or for referrals to other programs at 303-572-9445
or www.coloradohousingassistance.org.
Other Resources
HUD Questions and Answers - homebuying questions and answers
HUD Homeownership programs - Homeownership Assistance Programs
If you still have questions, please call Arapahoe County Housing and Community Development Services (HCDS) staff at 303-738-8060.
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