Down Payment Assistance Program

The Vendor is required to provide down payment assistance (DPA) program designed to expand sustainable homeownership opportunities for residents.
- Program administration expertise
• Must have direct experience administering down payment assistance programs for public entities in state, preferably in the Front Range.
• Must demonstrate ability to administer DPA structures including:
• Deferred loans
• Forgivable loans
• Shared appreciation loans
• Closing cost assistance
- Operational capacity
• Possess adequate staffing, technology systems, loan servicing capacity, and customer service infrastructure to implement the program immediately upon contract approval.
• Must provide all personnel, supervision, technology, equipment, office space, materials, and administrative support necessary for successful program administration.
- Desired outcomes
• Increase sustainable homeownership opportunities for income‑qualified residents.
• Expand access for households earning 80%–115% AMI, aligning the program with workforce housing needs and conventional first‑time homebuyer products.
• Support first‑generation buyers and first-time buyers disproportionately excluded from homeownership.
• Efficiently administer a revolving DPA fund that recycles repayments to future borrowers.
• Maintain full compliance with federal, state, and funding-source requirements.
• Provide exceptional customer service and timely processing.
• Maintain audit-ready records and transparent financial reporting.
- Loan terms
• 1% buyer contribution minimum
• Deferred second loan structure
• No payments for first 5 years
• Repayment begins in year 6 or at sale or refinance, whichever occurs first
• 5-year occupancy requirement; buyer may sell but may not rent out the property during this period
• Terms designed to be simple, predictable, and accessible.