HomesFund, a Durango-based nonprofit based in southwest Colorado, is expanding the Impact Loan Program (ILP) to Archuleta County. The ILP offers $ 15,000 mortgage assistance to eligible low- and middle-income homebuyers in Archuleta County. The $ 15,000 provided through the ILP is in addition to the existing Affordability Loan Program through which HomesFund provides mortgage loans of $ 19,000. With access to both programs, eligible low- and middle-income homebuyers can obtain $ 34,000 mortgage loans from HomesFund when they buy a home in Archuleta County.
To receive HomesFund mortgage assistance, all potential homebuyers must first attend a homebuyer training course and receive housing advice.
Our next course in Pagosa Springs will take place next Saturday, July 24th, at the Ross Aragon Community Center from 8:30 a.m. to 4:30 p.m., with a 1-hour lunch break. The course costs $ 15.00, which covers the cost of the workbook. The course is a great way to measure your willingness to buy and learn about the different steps involved in buying a home.
We know it is hard to find a home that you can afford when you live and work in beautiful Colorado Southwest. HomesFund offers a variety of mortgage products to help you realize your dream of owning a home.
HomesFund’s mission is to build diverse and resilient communities by supporting the development of affordable housing programs and providing residents with the financial resources and educational tools to achieve home ownership in southwest Colorado. HomesFund has been looking after families in the region for over 10 years, has trained over 2,000 people through the Homebuyer Education Classes and has offered financial support to over 300 families.
The July 24th class qualifies for the following loan types:
- All CHFA mortgages
- HomesFund Down Payment Assistance (offered in La Plata, Montezuma, Archuleta, San Juan (CO), and Dolores counties)
- Habitat for humanity
- USDA Direct
Home buying courses are available to anyone wishing to prepare for home ownership. Some customers are asked by their first mortgage lender or down payment service provider to take a homebuyer training course. If your mortgage lender or down payment service provider requires you to take a homebuyer course, it is very important that you sign up and take the correct homebuyer course that meets your specific loan requirements. Please ask your lender what type of loan you have and sign up for the appropriate homebuyer training class. If you have any questions or are unsure which class to enroll for, please call HomesFund 970-259-1418 before enrolling.
Students must wear masks and social distance in the classroom.
If you are not comfortable with the personal course, we will continue to offer the Ehome America online version the homebuyer training class, free of charge.
Learn more at HomesFund.org or by phone at 970-259-1418.