Estes Valley Workforce
Housing Assistance &
Larimer Home Ownership Program

Estes Valley Workforce Housing Assistance (EVWHA) down payment loan program is being rolled out February 17, 2010. The program has been developed by The Estes Park Board of REALTORS® and Estes Park Housing Authority to assist working families residing in Estes Park between the 81% and 150% of the Area Median Income (AMI). See income chart below.

The EVWHA program is a low interest loan. The maximum loan amount is 3.5% of purchase price OR $10,500 with an interest rate of 2% with a 10 year term. The amount approved is dependent on available program funding. Applicants need to invest a minimum of $3000 of their own money into the home purchase. Applicants and properties must meet all specific requirements laid out in the EVWHA Program Guidelines.

Along with the application, applicant must submit a prequalification letter from their lender. Applicant must be agreeable to attend required Home Ownership class and eligible property must be under contract within 90 days after application submission. Property then must close within 6 months of approval in the EVWHA program.

First Time Homebuyers who fall between the required AMI and live/work in the Estes Valley may begin the qualification process by submitting a completed application to the Estes Park Housing Authority office, PO Box 1200 Estes Park, CO 80517 or 170 MacGregor Ave Room 208. Several documents are needed in addition to the application, along with a $100 application fee. This fee is refundable if applicant is not approved. Please be sure to read through all application materials for detailed guidelines and requirements. Not all requirements have been listed here.

Larimer Home Ownership Program

Larimer Home Ownership Program (LHoP) down payment assistance program is available to households earning 80% or less of the Area Median Income. See the income chart below.

This program (LHoP) is a low interest loan. The Maximum loan amount is $10,000 with an interest rate of 2% with the term generally being 10 years. If your household income is 50% or less of the Area Median Income you might have the option of deferring payments until the home is sold.

This program can be used by any qualified buyer, purchasing a home in Larimer County including Estes Park. The cost of the home cannot exceed FHA limits. Both, EVWHA and LHoP programs can be used with ANY of the homeownership programs of the Estes Park Housing Authority, provided you qualify.

The application process is very simple. You can download the application here or call 970-635-5931 to have one mailed, faxed or emailed to you. Fill it out and provide; proof of income, family size and pre-qualification information from your lender, along with a $60 application fee to the Larimer Home Ownership Program located at 375 W. 37 th Street, Suite 200, Loveland, CO 80538. As a requirement of the program you must attend a first time home buyer training class provided by Neighbor to Neighbor (970-484-7498) or other acceptable Home Buyer Education class, prior to your closing.

Additional requirements of this program can be found in the application. Or, feel free to call the Estes Park Housing Authority at 970-577-3730 for additional information.