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Larimer Home Ownership Program (Lahop)
LHOP will be submitting an application to the State Division of Housing Jan. 1, 2012 for additional grant funding for it's down payment assistance program. These dollars will come from both the States CDBG and HOME program. With these funds the program expects to assist another 40 families with down payment assistance for the purchase of there first home. If you have any questions feel free to contact our office at 970-667-3232 m-f 8-5.
Helping Families Realize Their Dream of Home Ownership
The LHOP program has funds for properties purchased in Larimer County (including Wellington, Berthoud, Estes and unincorporated Loveland. this program does not include inside the city limits of Fort Coliins. 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. 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.
| Housing Programs - Homeownership |
