HomesFund, a Durango-based nonprofit that serves southwest Colorado, is expanding the Impact Loan Program (ILP) to Archuleta County. ILP provides $ 15,000 in mortgage assistance to qualifying low and moderate income homebuyers in Archuleta County. The $ 15,000 provided by ILP is in addition to the existing affordable loan program through which HomesFund provides mortgage assistance loans of $ 19,000. When accessing both programs, qualifying low- and moderate-income homebuyers can get $ 34,000 in Mortgage Assistance loans from HomesFund when purchasing a home in Archuleta County.
To access HomesFund mortgage assistance, all potential buyers must first attend a homebuyers training course and receive housing advice.
Our next class in Pagosa Springs will be on Saturday July 24 at the Ross Aragon Community Center from 8:30 am to 4:30 pm, with a one hour lunch break. The course costs $ 15, which covers the cost of the workbook. The course is a great way to assess your readiness to buy, as well as to learn about the different stages of buying a home.
We know that when you live and work in beautiful Southwest Colorado, it’s hard to find a home you can afford. HomesFund offers several mortgage products to help make your dream of home ownership come true.
HomesFund’s mission is to build diverse and resilient communities by supporting the development of affordable housing programs and giving residents the financial resources and educational tools needed to own homeownership in Southwest Colorado. HomesFund has served families in the area for over 10 years, graduating over 2,000 from Homebuyer Education courses, and providing financial assistance to over 300 families.
The July 24 course 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 courses are available to anyone who wants to prepare for homeownership. Some clients are required by their first mortgage lender or down payment assistance provider to complete a homebuyer training course. If your mortgage lender or down payment assistance provider requires you to take the Homebuyer Training Course, it is very important that you register and take the correct Homebuyer Training Course that will meet the specific requirements of the loan. Please ask your lender what type of loan you have and enroll in the corresponding Homebuyer Education course. If you have any questions or are unsure which course to register for, please call HomesFund 970-259-1418 before registering.
Students will be required to wear masks and social distancing in class.
If you don’t feel comfortable with the in-person course, we always offer the Ehome America online version of Homebuyer Education Class, free of charge.
Learn more about HomesFund.org or by calling 970-259-1418.