$1,000,000 available for eligible homebuyers working/living in DougCO
March 18th, 2010
One million dollars, approved for the purchase of foreclosed homes in fifteen Douglas County neighborhoods, is now available through the Douglas County Housing Partnership (DCHP) in their Shared Equity Program. The funds must be spent by September 10, 2010 and are limited to specific properties and specific buyer-eligibility requirements.
The DCHP will provide an investment of up to 20 percent of the purchase price (maximum $50,000) of a single family home less than $300,000 and town homes/condos less than $225,000 in any of the 15 designated, eligible neighborhoods. This investment will be a deferred loan which must be repaid upon sale or refinance of the home. At that time, the borrower must return the same investment percentage to DCHP based on the current fair market value.
Funds are available to eligible first time homebuyers who live and work in Douglas County, including persons who have not owned a home in the previous three years, single parents that have owned prior with a spouse, and displaced homemakers. Income limits (up to $91,200 for a family of four) and borrower requirements also apply to eligibility.
For more details about the DCHP Shared Equity Program, property and homebuyer eligibility requirements, please call (303) 784-7857 or go to http://www.douglascountyhousingpartnership.org/sharedequity.htm
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