The State of Colorado operates many resources for low-income families that can provide homeownership support and homeless prevention. Are you facing eviction and need financial support to pay your rent? Are you currently homeless? About to face foreclosure? Read this article to learn about the housing and rental support programs available in Colorado.
Family Support Program
The Family Support Program provides mortgage, rent, and utility assistance to eligible low-income families. support the affected families to achieve stability and regain self-sufficiency. The program also connects the clients to available housing resources and extra funding for families in need of additional assistance. to be eligible for this program, you have to live, work, or access healthcare, education, or any other human service in Summit County. Find out more at https://search.211colorado.org/search/400007063.
Rent, Mortgage, Utility Assistance
The purpose of the program is to provide one-time assistance to low-income individuals experiencing difficulty in paying their rent, mortgage, or utility bills and are at risk of losing their homes due to their financial situation. Support is provided once a year to qualified individuals. The goal is to help prevent homelessness and provide affordable housing options to the affected families. To be eligible for the program, you must be residing in Grand County and be able to demonstrate the need for financial assistance. for more information, please visit https://search.211colorado.org/search/400007001.
Down Payment Assistance
The purpose of the program is to provide down payment assistance to first-time homebuyers experiencing financial difficulties. The program also provides mortgage lending through low-interest loans and grants to qualified applicants. You must be a resident of Colorado and meet income requirements to be eligible. The program is available in all areas through the State of Colorado. Note that walk-ins are not currently accepted. For this reason, you can only make appointments or make a call at (303) 428-1448. Visit https://search.211colorado.org/search/400003317 for more information.
Colorado Housing and Finance Authority (CHFA)’s Home Ownership Program
The program offers assistance to homeowners experiencing financial hardships due to unemployment, underemployment or reduced hours or work. Assistance includes the home purchase and refinances loans, down payment assistance, and second mortgage loan. To be eligible, your income must not exceed the low-income limits. You must also meet the purchase limits. Read more about this program at https://search.211colorado.org/search/400003310.
Housing Counseling Assistance Program
The Housing Counseling Assistance Program was established as a result of a partnership between the Colorado Department of Local Affairs Division of Housing and the Brothers Redevelopment. The purpose of the program is to connect Coloradoans with free housing resources in the community. Resources can include financial assistance, mortgages, and rental support. The program also provides legal assistance to those individuals and families at risk of facing eviction or foreclosures. Want to access the program? Well, you can only access the program by contacting the state’s centralized housing helpline. The Brothers Redevelopment operates the helpline. Please make a call at 1-8-844-926-6632 or visit http://coloradohousingconnects.org/ to stay connected to the available housing resources. For more information about the program, please visit https://cdola.colorado.gov/housing-counseling.
Neighborhood Stabilization Program (NSP)
The purpose of the program is to help to reduce the effects of foreclosures in the most demanding areas of Colorado. Through this program, families affected with foreclosures can regain stability and achieve self-sufficiency. The efforts of the program help to reduce the rate of decline in property values. To be eligible, your income must not exceed 120% of the area median income. 25% of the program funds, however, serves households with income less than 50% of the area median income. Eligible grantees include the units of local government, non-profits, developers and contractors, housing authorities, and urban renewal authorities. The program may be used to renovate demolished housing properties, rehabilitate or purchase new homes, redevelopment of foreclosed homes, and for establishing land banks for foreclosed homes. The State of Colorado was granted over $53 million to carry out the Neighborhood Stabilization Program activities. Visit https://cdola.colorado.gov/neighborhood-stabilization-program for more information.
Colorado’s Section 8 Housing Choice Voucher Program
The Section 8 program provides rental subsidies to low-income individuals and families in need of financial assistance. The amount of payment assistance is provided depending on the income of the household. The housing subsidy is paid directly to the landlord by the department on behalf of the tenant. Usually, the family contributes 30%-40% of their income towards their monthly rental payment. The primary goal of this program is to ensure improved affordable housing for low-income families in Colorado. Although the applicants are allowed to pick a housing unit of their choice, they must make sure the houses meet the quality standards of the U.S. Department of Housing and Urban Development (HUD). The Division of Housing of Colorado contracts the local Public Housing Authorities and non-profits to run the program. For this reason, the housing vouchers are handed to the local agencies, who processes the applications for the Section 8 Housing Program. Learn more about the program at https://cdola.colorado.gov/office-rental-assistance.
The Colorado State Housing Board
The Colorado State Housing Board was established in 1970 to give advisory services to the General Assembly, the Governor, and the Division of Housing of Colorado about the housing needs that should be addressed. The board reviews financing requests to ensure that multifamily housing regulations are implemented. The board also ensures research reports regarding housing are available to the public, legislators, and the governor. Learn more about the program at https://cdola.colorado.gov/state-housing-board.
Colorado Low-Income Home Energy Assistance Program
The purpose of the Colorado LIHEAP is to financially support low-income families in settling their home energy costs as well as other utility bills. The goal is to help families bring warmth, comfort, and safety to their homes. Apart from assistance with heating costs, the Colorado LIHEAP provides repair and/or replacement equipment for families possessing inoperable tools. Note that the program does not cover the total amount of your heating and utility costs but helps reduce the burdens, especially to the families who append most of their income in paying energy bills. To be eligible for this assistance, your income must not exceed 60% of the State Median Income level. The amount of assistance provided to the qualified applicants depends on the primary heating fuel and the level of income of the family. Find out more about the eligibility requirements at https://cdhs.colorado.gov/leap#. Want to apply for Colorado LIHEAP? Visit https://cdhs.colorado.gov/leap#. Learn more about the program at https://cdhs.colorado.gov/leap.
USDA’s Single-Family Housing Repair Loans & Grants in Colorado
The purpose of this program is to provide financial assistance through low-interest loans to low-income homeowners. The funds from loans are used for repair, improvements, and modernizing of homes while grants are used to remove the health and safety hazards from the senior’s homeowners. you must have an income below 50% of the area median income. For grants, you must be 62 years or older and be able to provide proof by presenting your national identity card. You must also be without affordable housing and have failed to obtain credit from available facilities or financial institutions. Check if your home address is eligible at http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfpd.
USDA’s Single-Family Housing Direct Home Loans in Colorado
The program is committed to assisting qualified low-income families to obtain safe and sanitary housing in remote areas. The assistance is provided in a form of a payment subsidy that helps the qualified applicants reduce their monthly mortgage payments for some time. The loans are payable over 20 years. The amount of financial assistance you will receive depends on the level of income. the qualified applicants are expected to repay the loans once the title of the property transfers or the borrower is no longer occupying the property. Find out more about the program at https://www.rd.usda.gov/programs-services/single-family-housing-direct-home-loans/co.