by: Mari Takeshita

Up to $5000 is available

First time homebuyer class required (will accept CHFA’s on-line classes)

BUYER MUST HAVE EDUCATION CERTIFICATE PRIOR TO WRITING CONTRACT! Certificates are good for 9 months

$203,000 purchase price limit

Closing happens in Adams County office day before closing

Buyer must have 1% of their own funds into transaction (CANNOT BE GIFTED but can include appraisal, inspection and earnest money)

NO CASH BACK AT CLOSING

Must include everyone’s income in the household

Income guidelines:

Family of one:   $42,950

Family of two:   $49,100

Family of three:                $55,250

Family of four:   $61,350

Family of five:    $66,300

Family of six:      $71,200

Family of seven: $76,100

Will allow MCC to help in ratios (maximum 33%/44%)

Buyer must meet for housing counseling with ACHA and buyer will provide all documentation to ACHA except appraisal and lender forms

Must allow 3 weeks for closing transactions

They require 48 hours to review the HUD

Transcripts are acceptable

Will only lend money buyer needs – doesn’t require you use the full $5000 (as was previously required with the $7000 assistance)

This is a grant forgiven over 5 years with no interest charged

Anyone wanting to participate must attend the training class with Adams County.  Contact Enrica Bustos at 303-227-2059 or e-mail ebustos@achaco.com and you can have buyers contact her to set up appointments as well.

Can use this program behind CHFA towards closing costs and prepaids.