Property Grants and Finance in Online Business Trade Directory

Home >> Business >> Real Estate and Property >> Residential Properties >> Property Grants and Finance >> Boulder County/Longmont Down Payment Assistance Program

Boulder County/Longmont Down Payment Assistance Program in Online Business Directory

The City of Longmont requires housing developers to make at least 10% of the housing units in new developments affordable. The savings is passed on to income eligible buyers. Once purchased, a Covenant is placed on the property to keep it affordable for a minimum of 10 years. Some units are permanently affordable. Covenants keep the properties affordable to others who may purchase it within the affordability period. If a property is sold within the term of affordability, then the sales price must be no more than the maximum resale price (set by the City) and must be sold to an eligible buyer. For the first sale after the end of the affordability period, the Affordable Housing Program will share in the home's appreciation. A payment equal to 25% of the following: total actual appraised value of the house at the time of the sale, less the original purchase price (min. $5,000 payment required) must be made and will be used for other affordable housing programs within Longmont.

Address: Civic Center, 350 Kimbark Street, Longmont, CO 80501, Boulder County.
Telephone: (303) 776-6050
Fax: (303)651- 8590
Website: http://www.ci.longmont.co.us/cdbg/housing/chdpa.htm