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Posted: Thursday, July 28, 2016 7:39 PM


Stop wasting your hard earned money on rent !!!!!!!

Aurora HOAP Down Payment Assistance Program -- What You Need To Know
The City of Aurora's Home Ownership Assistance Program (HOAP) helps low to moderate income families in Aurora become homeowners by offering assistance up to $10,000 to be used for down payment and closing costs. The assistance comes in the form of a second mortgage against the purchased home. The great news is that the interest rate is currently at 0% and buyers do not make any payments on the mortgage until the home is sold, at which time the mortgage is paid off in full. The program is for eligible buyers who have not owned a home during the last three years.

The qualification rules are fairly simple. Here are the basics:

Assistance is provided for the minimum required down payment and all allowable closing costs under HOAP guidelines up to a maximum of $10,000.
Assistance is currently at zero percent interest.
The homebuyer is required to contribute from their funds 1 percent of the purchase price towards the transaction. Buyers are allowed to have limited reserves after their 1 percent contribution. If HOAP determines the buyer does not need the assistance in order to purchase a home the buyer will not be eligible.
Buyers must attend a homebuyer workshop consisting of two meetings. The workshops are offered at the City of Aurora Central Library.
Buyers are also required to attend a one-on-one counseling appointment with a HOAP representative.
An inspection by a licensed home inspector is required on the home being purchased and the inspection report must be submitted to HOAP. In addition, a Lead Hazard Screen is required for homes built prior to 1978.
The program is not available for the purchase of a property that is currently occupied by a renter. If the home is currently vacant, the seller must provide evidence to show a renter was not displaced prior to the home being listed for sale.
You must have a minimum credit score of 620.
For more info call us direct (303) 872-3540
SOLD Realty Services

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Bedrooms: 4
Rent: $1,400

• Location: Aurora, Denver

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