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City of Fort Collins

Prepared by:

Mari Takeshita @ Cherry Creek Properties 303.941.6274

Sharon Campbell @ Guild Mortgage Company at 720-746-4072


City of Fort Collins Homebuyer Assistance (HBA)


The City of Fort Collins provides loans to income-eligible households to cover a portion of the required down payment and closing costs for buyers who have not been on title to a home for the past three years. The loan is to be paid back in full either when the house is sold, transferred out of the buyer’s name, rented, or if the buyer seeks a second lien (such as a home equity loan). Eligible households can receive a loan of up to 5% of their purchase price (maximum of $10,000) to cover down payment, closing costs or both.

WHAT KIND OF HOUSE IS ELIGIBLE? Condo, townhouse, single-family, or modular home on a permanent foundation (no mobile homes on rented land are eligible).  Located within the legal city limits of Fort Collins.  Have a purchase price and appraised value of less than $237,500.  If the home was occupied by a tenant any time within 90 days prior to applying for assistance, call 970-221-6812 to see if funding is available. For purchases outside Fort Collins city limits, contact the Larimer Home Ownership Program,

People in Household
Income Limit
$42,500 2 $48,550
$54,600 4 $60,650
People in Household
Income Limit 6 $70,400
$75,250 8 $80,100

WHO IS ELIGIBLE? Buyers must have a household gross income meeting federal guidelines. Buyers must also have sufficient income, meaning total housing expenses will not equal more than 38% of their gross income, and total household debt must not be more than 42% of gross income. Buyers must not own or be listed on the title to any other property at time of application. There is a limit of $20,000 on buyer contributions or gift funds including earnest money without prior approval for special circumstances.

ADDITIONAL REQUIREMENTS The buyer must make an earnest money deposit of $1,000 or 1% of purchase price (whichever is greater) with their own funds. This can not be in the form of a promissory note. The buyer must also attenda home ownership class (taking this class online is not allowed) prior to closing. See class info in the tan box to the left. The buyer must use the house as their principle residence for as long as the loan is outstanding, or the loan becomes immediately due and payable. The property will be inspected by City staff for general livability. Any home built before 1978 must have an inspection attesting to its safety regarding lead-based paint.

APPLICATIONS Applications are available only through participating mortgage lenders. Funds are limited and are committed on a first-come, first-served basis. The program year begins in November of each year and continues until all funds are committed. Download a list of our participating lenders at page top. Notice of Voluntary Arm’s Length Transaction

INFORMATION FOR REAL ESTATE AGENTS What do you need to do to make sure your buyer is eligible? If you think your buyer may be eligible for assistance, it’s very important you fill out ONE piece of paper when your buyer makes an offer on a property. It’s called a Notice of Voluntary, Arm’s Length Transaction and, since the City uses federal funds to provide down payment assistance, this form is required to be given to the property owner at the same time the contract is submitted. It’s the law. You can download this form in the box to your right. This is a very strict law, and if a loan officer provides us with an application and the contract doesn’t also have a copy of this Notice attached, the Department of Housing and Urban
Development’s Relocation Office requires that we deny the assistance, even when the buyer is eligible in every other way. Please consider carrying a copy of this form “just in case.” For your buyer, it can mean the difference between being able to purchase a home and having to wait for another opportunity.