Arapahoe County’s First-Time Homebuyer Assistance Program could help put you on the path to home ownership. Arapahoe County has teamed with Funding Partners to assist low and moderate income families and individuals with their first-time purchase of a home in Arapahoe County (excluding the City of Aurora, which has its own program).
If you qualify for assistance, we can help you pay for the down payment, closing costs and prepaid/escrows for 6 percent of the purchase price up to $10,000. This comes is in the form of a second mortgage loan with a low, fixed 3.0 percent interest rate (payments vary depending on the loan amount). The loan repayment schedule will begin immediately and will be amortized for a period not to exceed 15 years.
The purchase price of your home cannot exceed 95% of the Area Median Purchase Price in Arapahoe County, which is $224,675 in 2013. It must be your principal residence.