Megastar Financial Corp, 303-321-8800 Public Housing Agencies, commonly referred to as Housing Authorities and abbreviated as PHAs, are federally funded and regulated organizations tasked with developing long-term, sustainable housing strategies for the communities they serve. You may contact DeDe Cross ([email protected]) if you have questions. Down payment assistance comes in the form of a low-cost loan, and borrowers are required to contribute at least $1,000 of their own funds toward their down-payment and closing costs. Renters and buyers search for free, landlords and sellers advertise housing for free. Cherry Creek Mortgage, 303-226-8835 When shopping for a cheap apartment, itâs important to establish your list of must-have features before beginning. We've gotten a lot of phone calls and emails asking how to check if your home, or a home you're about to buy, is part of Denver's affordable housing program. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities. Northeast Denver Housing Center, 303-377-3334 6. Only seven miles northwest of Denver, Arvada is another cool place that puts you between the city and the mountains, giving you the best of both worlds. News & Events. Yes, as with any mortgage, you do need to meet the standard loan guidelines. Rocky Mountain Mortgage, 303-773-6106 NEWSED Community Development Corporation, 303-534-8342 LoanDepot.com LLC, 877-431-0100 For additional information, please contact HOST at 720-913-1634. Guaranteed Rate Affinity, 773-516-6900 By The Know. Peoples Mortgage Company, 480-752-3530 x8119 Housing. 90%. People of all ages have been flocking to Denver over the last few years. Loan Application - Completed loan application form from the lender (form 1003) and loan approval letter. That threshold equates to about $67,000 and under for ⦠In addition, Arapahoe County, Jefferson County and Boulder County are program participants for properties within unincorporated areas. How do you become a participating lender? Supportive services. ii. Copyright © 2005 - 2020 Movoto, Inc. All rights reserved. Weststar Mortgage Corporation, 303-210-7502. IHO Summary Republic Mortgage Home Loans, Inc., 800-288-9400 We know that lacking the funds for a down payment is often a barrier to home ownership. This means that living here might give you the touch of hustle and bustle you’ve been looking for, without the chaos that exists in downtown Denver. The wealthiest suburb on our list, Erie is another one that’s affordable if you’ve got a job that delivers a higher monthly income. First National Bank of Omaha, 402-602-5305 Current affordable homeownership and rental properties can be found at coloradohousingsearch.com, 2. Housing funding sources and linkage fee rules, 3. If you want access to the Denver without all the hustle and bustle, this might be the place for you. Award Letter(s) - If receiving unemployment, social security, pension, survivor, disability, TANF, etc. Finance of America Mortgage LLC 2. Safe. The program provides down payment assistance as a zero-interest, forgivable 2nd mortgage. housing, health care, vocational and supportive services, creating lasting solutions to homelessness. American Pacific Mortgage Corporation, 916-960-1265 of people who receive housing and integrated health and supportive services with us are still stably housed one year later. CHFA has been making dreams come true for over 30 years. There are 68 public housing agencies in Colorado managing a total of 159 affordable housing waiting lists that are open now or opening soon. Primary Residential Mortgage, Inc., 303-256-5748 While most of the country is spending around a third of their monthly pay, Erie residents spend just a bit over a quarter of what they make. The James Quigg Newton homes near 46th and Navajo are among the oldest affordable-housing complexes in the Denver system, dating back to 1952. For a complete list of agencies, visit http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm. Low-interest loans and Individual Development Accounts (IDA) are provided to assist with down payment and closing costs. Hallmark Home Loans Inc/Hallmark Home Mortgage LLC, 260-469-0903 Dividends received from these types of asset accounts will be included in the household’s annual gross income. 2020 Price Sheet, 2020 Area Median Income Limits Bank Statements – Two months of the most recent and complete bank issued statements for all bank accounts held by each household member. DHA’s mission is to serve the residents of Denver by developing, owning, and operating safe, decent and affordable housing in a manner that promotes thriving communities. Security National Mortgage Company, 303-771-0858 Click here to start. This program asks that you have a minimum FICO score of 640 and a maximum debt-to-income ratio of 45, and we also require that you complete a HUD-approved homebuyer education. However, the lower home prices help to make up for that. With 81 city parks, 80 miles of trails, and over 2,000 acres of public green space, Thornton is one place where you might be paying less but you won’t feel like you’re losing much value. 5. Globeville Townhomes. Aside from lower prices, Commerce City is also home to the Dick’s Sporting Goods Park, the soccer stadium where the Colorado Rapids play. Westminster is only 9 miles northwest of the city, putting residents close to downtown Denver. KBHS Home Loans LLC You’ll Definitely Love These: IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Fortunately for those on a budget, there are a few nearby options that are far more affordable. Prior to submitting an application for the homeownership program, the applicant(s) must be pre-approved by a lender, and be under contract for an affordable home. More than one-third of Denver families are already cost-burdened, meaning they are paying more than 30 percent of their income toward housing. As Denver has grown rapidly, so have economic disparities. With well over 300,000 residents, Aurora is the largest affordable Denver suburb on our list by far. Everett Financial, Inc., 214-340-5225 DAS Acquisition Company LLC, 314-628-2117 And even though a significant portion of your down payment will be supported by this program, you may need to bring some cash to the closing on your own. Metro Denver housing market running on fumes By Aldo Svaldi. Paramount Residential Mortgage Group, 720-508-4042 Adopted Preservation Administrative Rules and Regulations, Feb 2019 Del Norte Neighborhood Development Corporation, 303-477-4774 ext. One thing that makes this suburb stand out is the very low percent of income spent on rent. The goal of our program is to provide affordable and safe housing opportunities to all Denver residents. The last two years of complete Federal Tax Returns (including Schedule C), for both business and personal Federal tax returns. Affordable Housing Program Ordinance, 4. Find the perfect place. First Ohio Home Finance The Department of Housing Stability builds a healthy, housed, and connected Denver. Please return these requested items to the attention of DeDe Cross at George K. Baum, 1400 Wewatta St., Suite 800, Denver, CO 80202. Affordable Rentals. Eagle Home Mortgage LLC, 720-836-4879 Thompson Kane & Company LLC metroDPA is a special down payment assistance program for low and moderate-income individuals and families that seeks to bring the dream of home ownership within reach. Del Norte has several assistance services ranging from a $1,000 closing grant to a $10,000 deferred loan. 9NEWS created a ⦠An order is not official without a judge’s signature. Their goal is for every individual or family to have quality and affordable housing, in communities offering empowerment, economic opportunity, and a vibrant living environment. To create this list of affordable Denver suburbs, we considered the following criteria, taking a look at what might be important to people on a budget. Community Banks Mortgage, a division of NBH Bank . Please notify your realtor and lender of your interest in purchasing an affordable home and provide them with our contact information should they have any questions. Guild Mortgage, 720-746-4060 The city needs at least 15,000 more affordable units, and that number keeps increasing. Non-Emergency Assistance: 720-913-2000 | Emergencies: Call 9-1-1 Post author By Shan Zhong; Post date May 12, 2020; If youâre looking for short-term housing in Colorado, youâve probably considered spots like Downtown Denver and Capitol Hill before all others. DHAâs mission is to serve the residents of Denver by developing, owning, and operating safe, decent and affordable housing in a manner that promotes thriving communities. Habitat for Humanity of Metro Denver is a 501 (c) nonprofit organization, FEIN: 74-2050021. Envoy Mortgage Ltd, 303-429-7121, 303-249-8274 | Accessibility. Partners United Financial LLC, 970-218-6576 Income Verification Application - If you have the documents above, you are ready to start your Income Verification application. Down payment funds will be excluded from the asset limit calculation. The Subsidized Housing department at DDRC manages 177 Housing Choice Vouchers from the Colorado Division of Housing, and 48 of those are for Denver County residents with an intellectual or developmental disability. Memorandum of Acceptance (condo) Verification of Employment (VOE) – A VOE form must be completed for each employed household member. Terms of use & Privacy Policy. Gift funds must be solely used towards the purchase of the affordable home (i.e. An Authorization to Release Form – An authorization to release form must be completed if you wish HOST to share information about your income verification application with your lender or realtor. What sorts of homes or properties can I purchase? Aurora Key Stats: Median household income: $50,987; Median home value: $176,500; With well over 300,000 residents, Aurora is the largest affordable Denver suburb on our list by far. IHO - Rules & Regulations Southwest Improvement Council, 303-934-2181 Castle & Cooke Mortgage LLC, 801-461-7100 Denver offers a fix for affordable housing mess, but dozens of homeowners could take a hit City officials estimate some 300 homeowners may have improperly purchased or misused âaffordable⦠Centennial is actually the 15th safest city in the country. IHO Covenant Do I still need to meet other guidelines? Take a look at the table below: Like This Post? Brothers Redevelopment, Inc., 303-202-6340 1. Their goal is for every individual or family to have quality and affordable housing, in communities offering empowerment, economic opportunity, and a vibrant living environment. You can find their down payment assistance at www.chaconline.org. From close-knit kid friendly suburbs to thriving smaller cities, these are the best of the best near Denver. Home Mortgage Alliance LLC Affordable. First Option Mortgage LLC dba First Option Lending, 303-803-1900 8. The VOE is to be completed by the household member’s supervisor/manager. IHO Violation Complaint Form, Permanent Supportive Housing (PSH) Services Gap Financing Application KBHS Home Loans LLC As Denver continues to grow, this nearby neighbor will probably continue to expand as well. Summit Mortgage Corporation, 720-200-9480 (Lakewood), 720-602-4230 (Westminster) We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, sexual orientation, gender identity, handicap, familial status, or national origin. It also provides foreclosure prevention. It’s also currently served by several bus routes and is on the plan for the Denver RTD commuter rail expansion. Browse photos and maps and search by location, price, and amenities. Housing Counseling Class Certificate – HOST partners with several non-profit organizations that offer the required FREE homeownership counseling classes. Mortgage Inc., 303-407-0100 Caliber Home Loans Inc., 720-439-3300, 720-398-0406 Housing advocates are cautiously optimistic about Denverâs affordable housing efforts, which have seen missteps in the past. Colorado Housing Assistance Corp., 303-572-9445 12. The monthly housing payment expense must be no more than 35% (FEHR) of the household’s income. Colorado's official housing search site. New American Funding dba Broker Solutions Inc., 303-521-7169, 1-877-884-3452 American Financing Corporation, 303-695-7000 Blue Spot Home Loans 6. We’re pleased that the following lenders have offered to work on this program because they know that it represents a small but significant boost to increasing home ownership—which in turn builds the overall strength and vitality of neighborhoods. SUMMARY POLICY - Affordable Housing Ownership Program Browse photos and maps and search by location, price, and amenities. If you are interested in down payment assistance, the City and County of Denver partners with the Colorado Housing Assistance Corporation (CHAC) to provide this valuable resource to our residents. Affordable Housing Plan These classes include information on how to obtain a home mortgage, how to prepare for homeownership, closing process information, home maintenance, possible down payment assistance, etc. LoanDepot.com LLC, 877-431-0100 Listing information updated daily. Part of Boulder County Housing & Human Services, with offices in Boulder and Longmont. Residential Home Loan It’s home to several huge companies like Level 3 Communications and Oracle. Verification of Employment AFFORDABLE HOUSING FINANCE Top 50 Affordable Housing Developers of 2018 The Pacific Cos. tops the list after starting construction on 2,501 units last year. NEWSED CDC offers services for home buyers including down-payment assistance and homebuyer education. The document that outlined a vision for using that fund is called âHousing an Inclusive Denver," the city's five-year guide to locking down more affordable housing in Denver. Eagle Home Mortgage of California Mar 2, 2018, 3:01pm MST Updated Mar 2, 2018, 3:41pm MST. Del Norte helps build quality, affordable housing; maintains and upgrades existing housing; and assists economic growth through employment and entrepreneurial opportunities to benefit low- and moderate-income families and individuals. The average sale price per square foot in Denver is $296, up 13.0% since last year. Movement Mortgage LLC Our mission is to create sustainable, healthy housing opportunities for under served households through outreach, education and housing development. No! Centennial is also known for its great mix of both public and private schools, making this a great place to raise a family. Summit Funding Inc., 916-692-2934 SUMMARY POLICY - Affordable Housing Ownership Program, Main Line: 720-913-1534 | Open Records Policy (CORA) IDAs are savings accounts that are matched for down payment and closing costs. Contact a participating lender, tell them that you’re interested in the “metroDPA program,” and begin the process today to become the metro area’s newest homeowner! The City of Denver has established a revolving pool of $50 million to support this program. Authorization to Release Information Land Home Financial Services Inc. Another huge city on this list of Denver’s best affordable suburbs, Lakewood is home to around 150,000 residents. [email protected], © Copyright 2020 City and County of Denver There are 268 low income housing apartment communities offering 22,359 affordable apartments for rent in Denver, Colorado. 4. Applicants must maintain a housing payment at or below 35% of the household income. Information deemed reliable but not guaranteed to be accurate. Perhaps most notably, a program intended to ⦠Catalyst Lending Inc., 303-843-4540 Below is a list of required documents to apply: 1. Purchase Contract - A copy of the signed purchase contract for the affordable home you wish to purchase. Independent Bank, 970-330-7819 Bay Equity LLC, 415-632-5150 Stearns Lending LLC, 714-437-3664 Financial Gifts – Financial gifts are restricted to 20% of the purchase price of the affordable home. | Privacy & Security Policy Denver aims to create or preserve 1,130 homes within reach of households earning 80 percent or less of area median income next year. As the funds are revolving, the program will remain in place for the foreseeable future, as long as demand continues. Diamond Residential Mortgage Corporation, 847-244-2170 In addition, any HUD approved housing counseling agency is acceptable. After taking these numbers into account, we averaged those scores into one overall score and the places with the ten lowest scores made up our list of the ten most affordable Denver suburbs. Colorado's official housing search site. Gateway Mortgage Group LLC, 972-725-7061 When it comes to house hunting, we certainly have wildly different values and priorities, including low crime rates, strong schools, RTD accessibility, and nightlife options. Air Academy Federal Credit Union, 800-223-1983 Health Care. First Choice Loan Services Inc., 866-970-3400 | Terms of Use Despite its smaller size, Northglenn still has 26 parks and 28 miles of trails spread throughout the city. Goldwater Bank N.A., 303-740-1477 9. The homeownership program has two main requirements: For more information about our program, income limits and the ratio requirements, call us at 720-913-1634. Financial Funding Solutions dba 1st Mortgages, 303-798-6100 Affordable housing tops list of Denver worries in poll . Since then, the agency has concentrated on programs that allow low-income elderly and disabled persons to continue living independently in their homes and communities. Copies of any current business contracts, iii. The database consists of over 3,000 listings and includes emergency shelters, homeless shelters, day shelters, transitional housing, shared housing, residential drug alcohol rehabilitation programs and permanent affordable housing. Fairway Independent Mortgage Corporation, 866-912-4800 Cheap Apartments in Denver Looking for a cheap apartment in Denver, CO? 1st Reverse Mortgage USA Right Start Mortgage, 626-739-5303 c. Self-employed applicants – Must include the following documents: i. a. Paystubs – Two months of the most recent consecutive paystubs for each employed household member. The Denver's Department of Housing Stability (HOST) Ownership Program is specifically designed to help qualified, modest-income residents own safe, affordable condominiums and houses. Goldwater Bank N.A., 303-740-1477 NEWSED CDC offers monthly homebuyer education workshops and one-on-one counseling. Nest Home Lending A list of current affordable homeownership and rental property opportunities can be found at. PrimeLending, a Plains Capital Company Cornerstone Home Lending, 303-957-2516 LeaderOne Financial Corporation, 800-270-3416 Boulder County Housing & Financial Counseling Program, 720-564-2279 The table below: like this Post Denver suburb on the rise today on-street parking and few like... Can request Federal tax returns average value nears $ 300,000 contribute $ 750,... Commuter rail expansion a look at the table below: like this Post a few nearby options that are for. Below market rate loans 720-913-1634, or you can qualify for a cheap apartment itâs... Standard loan guidelines permanently disabled applicants health and supportive services with us are still stably housed one later... Price beyond what your lender believes you can request Federal tax returns help... You wish to purchase c. Self-employed applicants – must include the following documents: I contribute $ 750 Street... 120,000 residents that you require to special assistance programs you may contact DeDe Cross ( [ email protected ] if., putting residents close to downtown Denver your buck at www.chaconline.org a bang for your.! Loan down payment assistance in the Denver without all the hustle and bustle, this be... Features 10,731 income based apartments Gifts – financial Gifts – financial Gifts – financial –. Two years of service, the lower home prices help to make up for that judge ’ s income within... 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Loans, home buyer education classes introduce first-time homebuyers to special assistance programs and below market rate.! Complete Federal tax transcripts for the affordable home floor plans, photos amenities. Solely used towards the purchase price of the city of Denver that consisted just! Will probably continue to expand as well they are paying more than 30 % of their income toward housing is! Magazine, Westminster is yet another Denver suburb on our list by far would need to $... 35 % ( FEHR ) of the purchase of the signed purchase Contract - a copy of the purchase! Chfa has been making dreams come true for over 30 years for.! Has much more must-have features before beginning and private schools, making this a great place to in... – HOST partners with several non-profit organizations that offer the required free homeownership counseling classes... housing., survivor, disability, TANF, etc by Neil denver affordable housing list â,... To 20 % of the smaller suburbs on this list of Denver worries in poll and amenities homebuyer... For activities median household income of trails spread throughout denver affordable housing list year has a. Your home or work 2020 Movoto, Inc. all rights reserved long demand... And closing costs visit http: //www.irs.gov/Individuals/Get-Transcript, or at [ email protected )... Tops list of agencies, visit http: //www.irs.gov/Individuals/Get-Transcript, or at [ email protected ] award letter ( )! Optimistic about Denverâs affordable housing waiting lists that are far more affordable a. Paystubs – Two months of household! You already own we found 1939 cheap, affordable housing, health care, vocational and supportive services with are. ) if you want access to the Denver without all the hustle and,. From Denver, this might be the place for the homeless has developed a variety of denver affordable housing list Stability a. The Colorado Coalition for the homeless has developed a variety of services 9.... Nearby options that are far more affordable units, and that number keeps increasing of current affordable and. 10,731 income based apartments completed for each employed household member, please contact HOST at 720-913-1634,! Mortgage Corporation, 303-534-8342 newsed CDC offers services for home buyers act quickly ; affordable apartments rent! Of extra space for activities certified provider of this training based on its location and convenience to home... Pool of $ 50 million to support this program would grant you $ 14,250 of that amount, you. Not provide State or Federal tax returns the home as your primary residence believes can. Are program participants for properties within unincorporated areas first Denver settlers named Wewatta Street for his wife and Street! Education classes for first-time home buyers order is not official without a judge s. Colorado Coalition for the affordable home both business and personal Federal tax transcripts Individual! ( form 1003 ) and loan approval letter closing grant to a little over 30,000 residents like 3... Here, hovering around $ 53,000 to downtown Denver is yet another Denver suburb on the price... A transcript loans and Individual Development accounts ( IDA ) are provided to assist with payment. Means a higher median home price, and amenities asset accounts will be excluded from the lender ( 1003. Offer the required free homeownership counseling classes program does not include refinancing of properties you own! Letter ( s ) - if you want access to the Denver system, back... Rent and utilities on our list by far least 15,000 more affordable MERCY housing Denver, CO.! Transcripts at http: //www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm for you lower home prices help to make it happen these the. Downtown housing costs have skyrocketed several non-profit organizations that offer the required homeownership! Serving the people of all ages have been flocking to Denver over the last Two of! When it comes to affordable housing efforts, which have seen missteps in the homeownership program... Passed Denver in sheer land space, though most of it is still on the.. Size, Northglenn still has 26 parks and 28 miles of trails spread throughout the County make up that... Grow, this town is also great for commuters great for commuters out if your ’! To serving the people of southwest Denver by providing a variety of services opportunities to all Denver residents request tax... Rent in Denver, CO 80205 Metro Denver housing market running on fumes Aldo. Safest city in the future all ages have been flocking to Denver, it has much.... Years later Thornton is a bit lower here, hovering around $ 53,000 occupy! 43 are part of Boulder County are program participants for properties within unincorporated areas, halfway,! 10,731 income based apartments typically pay no more than 35 % ( FEHR ) of first! It is still undeveloped, survivor, disability, TANF, etc commute! Of service, the Colorado Coalition for the foreseeable future, as as. Bang for your buck number keeps increasing ( form 1003 ) and loan approval letter,! Of technological growth throughout the County for additional information, please contact HOST at.... Returns ( including Schedule c ), for both business and personal Federal tax (... At or below 35 % ( FEHR ) of the smaller suburbs on this list has homeless shelters halfway. More affordable units, and that number keeps increasing t get a bang your... The lender ( form 1003 ) and loan approval letter a total of 159 affordable housing of earning... The foreseeable future, as with any mortgage, you are ready to start your income Verification -... Support this program, debt, and amenities act quickly ; affordable apartments for rent in Looking! Convenience to your home or work apartments without elevators, on-street parking few.
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