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Jump to Topic:
Larimer Home Improvement Program
Post Purchase Issues
Foreclosure Provention Option
Options Involving Leaving Your Home
First Time Home Buyer Tax Credit
Larimer Home Ownership Program (Lahop)
Helping Families Realize Their Dream of Home Ownership
Applications are now being accepted for house located within Larimer County, check with program manager on funds for Loveland City limits.
The LHOP program has over $500,000 for properties purchased in Larimer County(including Wellington, Berthoud, Estes and unincorporated Loveland and Fort Collins. The max loan amount remains at $10,000 for those areas.)
To determine if the property you are looking at is in city limits or in the county go to the Larimer County Accessors web page. Put the property address in, it will bring up a screen with the tax district number click on that number highlighted in blue and it will bring up a screen that tells you whether it's in the county or city.
The Larimer Home Ownership Program is administered by the Housing Authority of the City of Loveland and offers down payment and closing cost assistance to low and moderate income families purchasing their first home. Families may not earn more than 80% of the area median income see chart .
This program is funded mainly with federal, state and county dollars. And because of that we are able to offer lower interest rates and more flexible terms then a traditional lender. The Maximum loan amount is $10,000 with an interest rate of 2% as of July 1, 2007. The only exception to that is for applicants earning 50% or less of the area median income. Generally, the loan term is 10 years. There is flexibility to do deferred payments in some cases for folks earning 50% or below the area median income when funds are available, call to check availability. In some case's LHOP funds can be used to cover closing costs for refinancing your first mortgage, call for details.
This program can be used by qualified buyer, purchasing a home in Larimer County including the City limits of Loveland, Wellington, and Berthoud as well as all the out lying county areas. The home value may not exceed the current FHA limit. Funds will not be reserved until you have a home under contract and a first mortgage loan approval. The City of Fort Collins has its own program if you are purchasing with in the city limits of Fort Collins please contact Julie Smith at 970-221-6595 or visit there website at http://www.fcgov.com/affordablehousing/hba.php
The application process is very simple you can down load the application from the website (Application/Forms), or call 970-635-5931 to have one mailed, faxed or email to you. Fill it out and provide; proof of income, family size and pre-qualification information from your lender. To the Larimer Home Ownership Program located at 375 W. 37 th Street, Suite 200, Loveland, CO 80538. We will let you know in less than a week in most cases if you qualify. As a requirement of the program you must attend a first time home buyer training class provided by Neighbor to Neighbor (970-484-7498) prior to your closing. For additional classes offered throughout the state, go to the CHFA Website to download a course schedule.
No. of People in Household |
Income Limit |
1 |
$42,100 |
2 |
$48,100 |
3 |
$54,150 |
4 |
$60,150 |
5 |
$64,950 |
6 |
$69,750 |
7 |
$74,600 |
8 |
$79,400 |
If You Are Having Difficulty Making Your Mortgage Payments
Getting behind in mortgage payments can seem overwhelming. It is important to get a good support system or help in making choices. Don't make this decision alone! Here are some things to think about to help improve the situation:
· Call your lender to negotiate arrangements to avoid further delinquency
· Read all your mail from your lender to make sure you understand the situation
· Contact your local HUD-approved counseling agency to discuss all your options
Your local HUD-approved counseling agencies in Larimer County are:
1. Neighbor to Neighbor provides housing counseling concerning home ownership, reverse mortgages and foreclosure prevention |
2. Consumer Credit Counseling provides assistance on avoiding foreclosure, reverse mortgages and credit assistance. |
Foreclosure Prevention HOTLINE
Foreclosure Prevention Options
If you have been served with a foreclosure notice or have become two months behind on your mortgage payments, here are some things to keep in mind: Foreclosure on your home is always the worst possible resolution of a mortgage problem and it doesn't have to happen. Even if you have been served with a foreclosure notice, there is still time for you to "cure" the foreclosure and reinstate your loan. Your housing counselor can help you to explore ways to do.
There are so many options with recent changes to foreclosure laws, & new refinancing options contact the foreclosure hotline to find out which option could work best for you. Remember the earlier you begin the process the more options you will have.
Becare to walk to reputable consultant such as the Foreclosure hotline a nonprofit agency to help you through this process. If someone wants to charge you for this type of service talk to the foreclosure hotline first there is no charge, there are many frauds out there to watch out for.
| Housing Programs - Homeownership |
