INTEREST RATE

2%

MAX INCOME

Up to 160% AMI

MAX LOAN AMOUNT

$40,000

REPAYMENT OPTIONS

up to 20 years

WHO CAN APPLY

Anyone purchasing a home in Summit County

WHAT DOES IT COVER

Less than 30% of overall financing, on a 2:1 ratio

Click Here for the Down Payments Assistance Program Guidelines

Are you ready to apply?

Please review the checklist below before submitting an application.

If you have any questions on the Down Payment Assistance Loan, please reach out to [email protected] or [email protected] for assistance.

  • What is the property address?

    SCHA can only work with properties that are in the county. If the property you are interested is outside of Summit County, we may not be able to work with you and you should reach out.

  • Do you work 30 hours per week in/serving Summit County, CO?

    At least one household member must work 30 hours per week on an annual basis in and in service to Summit County, CO to qualify for the loan.

  • Are you Under Contract?

    In order to proceed with the application, you must be under contract in Summit County, CO. We will not move forward with processing your application until you are under contract.

  • Do you have a scheduled Closing Appointment?

    It takes about 4 weeks to process the Down Payment Assistance Loan. We ask that you give us an appropriate amount of time and submit the application 4 weeks from the closing date to best serve you.

  • Do you have a Primary Lender?

    It is important that your primary lender can work with us on the Down Payment Assistance Loan, not all programs do. Before submitting an application, we recommend sending your primary lender our program guidelines to see if it is compatible.