HOMEBUYER PARTNERSHIP PROGRAM:

We are a builder of ENERGY STAR quality attainable homes, and we build those homes in Teller County, Colorado.  Just to clarify, we do not rent homes.  Our home purchase program requires all qualifying applicants to go through an approval process to become a Homebuyer Partner.  Once approved, the partnership requires applicants to participate in homeowner education, pre-qual for a special mortgage loan program and earn sweat equity on our build sites in Teller County.  The process can take anywhere from 9 months – 24 months, depending on weather at the build site, sweat equity requirements being met, credit issues being remedied, special lender programs having available funds, etc.

 We welcome applicants who are interested in becoming community involved, long-term homeowners in need of attainable housing.  Because we are Teller County Habitat, our program is designed for those who have a viable connection in Teller County, residents for 12 months or more or for those who have been employed at least 1 full year in Teller County or have lived here but forced to move away due to a housing situation.  If selected by our Support Committee, we will initially pre-qualify to determine the applicant’s affordability for the current project we are developing or any resale property we might have.  We are required to satisfy the bedroom needs of any family (Read More Here).  When an applicant becomes a Habitat Homebuyer Partner and completes the education classes, we assist the homebuyer in reaching out for a special affordable mortgage loan.  If approved, the applicant participates in building or remodeling their home.

Be aware, to be mortgage loan approved, our lender partners will require a 2-year history of employment and proof of that, an active checking and savings account, credit score of at least 640 (some lenders allow alternative credit in lieu of a score).  The applicant must not have any active liens, bankruptcies, or foreclosures.  To clean up credit, we are not an official credit counseling service, but we can offer some directives on how best to do that.  We also provide the assistance to prepare a loan application suitable for our participating lenders.

CURRENT PROJECT:

We are currently building sustainable and fortified homes in the Trailhead Townhomes Development which will be in process over the next 2-3 years.  We have some qualified Homebuyer Partners who have been working through our program for several months, but we are still taking applications for this project.  This neighborhood will consist of a total of 9 duplexes for 18 homeowners.  Qualifying households should earn within the high $40s to the mid $60s (60%-80% of the area median income of $81,800) for these energy efficient homes being built in Woodland Park.  A deed restriction will apply to homes in this development.  Our showroom is open Monday – Thursday 8:30am – 4:30pm for viewing of our current project.  Please schedule that viewing appointment with me.

We are very aware of the need for attainable homes with affordable mortgages and we hope to do our part to make that happen for our residents and workforce with income falling into the 40% – 80% of the current AMI, for Teller County.  As building costs settle down, we are also hoping to start building in Divide (village of) within a year or 2 but won’t take applications until we know for sure this property is nearing the building stage. We have property in Cripple Creek to build on when the City updates their wastewater infrastructure and provides city water to the lots.  As the land becomes available, we also hope to be able to build in the city of Victor.  A Florissant build is also being considered should the land become available.

For viewing of our current build project, visit our showroom Monday – Thursday 8:30am – 4:30pm  Please schedule that viewing appointment by calling 719-687-4447 or email to hbhoservices@tellerhabitat.org.

 BASIC QUALIFICATIONS:

• Viable connection to Teller County and interested in becoming community involved, long-term homeowner in Teller County.
• U.S. Citizen or Legal Permanent Resident
• Teller County resident of 1 year or longer or  have been employed in Teller County for at least one full year.
• Meet the monthly income requirements for the home you want to buy
• Credit history must be clear of excessive debt, collections, or any open judgements; If you’ve had a bankruptcy or foreclosure, it must be discharged for at least 36 months. Credit counseling is available to help you qualify.
• Have 2 years of work history (or two years proof of other income)
• Be willing to complete 300-400 sweat equity hours working on the construction site before moving into the home