HomesFund, a Durango-based nonprofit organization that serves Southwest Colorado, is expanding the Impact Loan Program (ILP) into Archuleta County. The ILP provides $15,000 of Mortgage Assistance to eligible low- and moderate-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 Assistance loans of $19,000. When accessing both programs, low- and moderate-income eligible homebuyers may obtain $34,000 in Mortgage Assistance loans from HomesFund when purchasing a home in Archuleta County.
To access Mortgage Assistance from HomesFund, all prospective homebuyers must first attend a Homebuyer Education Class and receive Housing Counseling.
Our next class in Pagosa Springs will be held this coming Saturday, July 24, at the Ross Aragon Community Center from 8:30am – 4:30pm, with a 1-hour break for lunch. The class costs $15.00, which covers the cost of the workbook. The class is a great way to gauge your readiness to purchase, as well as learn about the various steps involved in purchasing a home.
We know that when you live and work in beautiful southwest Colorado, it is hard to find a home that you can afford. HomesFund has several mortgage products available to help you achieve your dream of homeownership.
The mission of HomesFund is to build diverse and resilient communities by supporting the development of affordable housing programs, and empowering residents with the financial resources and educational tools to achieve homeownership in Southwest Colorado. HomesFund has been serving area families for over 10 years, has graduated over 2,000 individuals through the Homebuyer Education Classes, and has offered financial assistance to over 300 families.
The July 24 class meets the requirements 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
Homebuyer Education classes are available to anyone who wants to prepare for homeownership. Some clients are required by their 1st mortgage lender or down payment assistance provider to take a Homebuyer Education Class. If your mortgage lender or down payment assistance provider are requiring that you take Homebuyer Education class, it’s very important that you enroll and take the correct homebuyer education class that will meet the specific loan requirement. Please ask your lender which type of loan you have, and enroll in the corresponding Homebuyer Education Class. If you have questions or are not sure which class to enroll in, please call HomesFund 970-259-1418 before enrolling.
Students will be required to wear masks and social distance in the classroom.
If you don’t feel comfortable with the in-person class, we are still offering the Ehome America online version of Homebuyer Education Class, for free.
Learn more at HomesFund.org or by calling 970-259-1418.