Through this program, DCHP provides low- and moderate-income households with the opportunity to purchase their first home in Douglas County. This program increases a buyer’s purchasing power by enabling these households to borrow at a low interest rate, ultimately bridging the gap between lower wages and higher-cost housing.
Qualifications include:
- Borrowers must be first-time homebuyers as defined by HUD
- Preference is given to borrowers currently living or working within Douglas County
- Borrowers’ Income must be at or below 80% of the Area Median Income
- Borrowers will typically contribute 1% of the purchase price with their own funds and must contribute at least $1,000
- Borrowers must occupy the home as their primary residence (subject to HUD affordability regulations)
- Property must meet HUD guidelines
- Property purchase price cannot exceed $556,000