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Colorado Rural Housing Development

Program Overview

Colorado Rural Housing Development is a program that assists homebuyers with all phases of home ownership including counseling and education, and flexible loan products. The program offers below market fixed rate loans with different terms depending on the need of the individual borrower. All rural properties in the state of Colorado would qualify for this program.

Who is eligible for this program?

Each borrower is reviewed on a case by case basis for qualification. Household income is the basis for qualifying for aid. Eligibility is based on the borrower's need. Funds can be used for downpayment and closing cost assistance to aid those that might not otherwise qualify for a home loan. Refinance/remodeling or purchase programs are offered. Is this program for first time buyers only? No

Property Eligibility Requirements

All rural properties located in the state of Colorado would qualify for this program.

Benefit Details

Interest rates vary from 1% to market rate depending on family income. Each applicant is reviewed on a case by case basis with income being the basis for their qualification. The assistance amount for this program varies depending on the borrower's income and need. Benefit: This program benefits those borrowers that may not be able to obtain a home loan without assistance and helps low income borrowers purchase homes located in rural areas. The assistance amount is based on need of the borrower and household income on a case by case basis. Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes Other Program Comments: Self-help Housing also offered. Participants build their own home putting in over 800 hours in 3-6 months and work with 7-9 other families. Each family works on one another's homes to ensure quality and faster completion times.

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.