Douglas County Housing Partnership DCHP logo
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What is It?

Opportunity for homeownership in Douglas County through use of “Shared Equity” with the Housing Partnership. DCHP will provide funds in the form of down payment and will provide the minimum amount necessary to bridge lender requirements and resources available to the buyer up to 20% of the purchase price or $50,000 whichever is smaller.

This down payment will be a deferred loan which must be repaid upon sale or refinance of the home, along with the same percentage share (of down payment amount) of any appreciation in the market value.

Who is Eligible?

  bullet First-Time Homebuyers including persons that have not owned a home in the previous 3 years, single parents that have owned prior with a spouse, and displaced homemakers.
  bullet People who work within the limits of Douglas County.
  bullet Income limits are in two categories, below 80% of Area Median Income and below 100% Area Median Income.
 
   
AREA MEDIAN INCOME
80%
 
100%
 
80%
 
100%
                     
1 person   $40,200   $50,250   4 person   $57,450   $71,800
                     
2 person   $45,950   $57,450   5 person   $62,050   $77,550
                     
3 person   $51,700   $64,600   6 person   $66,650   $83,300
                     
 
  bullet Borrowers under 80% AMI must contribute at least $1,000 towards the purchase.
  bullet Borrowers above 80% AMI must contribute at least 3% of the purchase price.
  bullet Borrower must occupy the home full time as their primary residence.

What Homes are Eligible?

Single Family Homes under $250,000 and town homes/condos under $225,000.
DCHP will review applications and consider physical location, condition, availability to transportation and schools, and resale marketability.

Home inspections will be required and reviewed by DCHP. Housing Quality Standards inspection will be performed by DCHP. Appraisals are required and buyer will sign authorization for lender to share appraisal with DCHP.

What Kind of Documents are Involved?

  bullet Deed of Trust
  bullet Promissory Note
  bullet How money is paid back, example:
   
   
Sales Price
 
Homeowner
 
DCHP Equity
               
 
Original Purchase Price
 
$200,000
 
$160,000
 
$40,000
     
 
 
 
Value at Time
of Sale
 
$240,000
 
$192,000
 
$48,000
     
       

What Do I Need to Get Started?

  bullet Take a class
  bullet To obtain all required Shared Equite Programs documents, please call Travis Anderson, Program Director, at 303-784-7857.

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Douglas County Housing Partnership
9350 Heritage Hills Circle
Lone Tree, Colorado 80124

303-784-7857 Homeownership
303-814-2965 Administration
303-784-7856 Foreclosure Program

 
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