Down Payment and Closing Cost Assistance

You pay your mortgage, and ACHA will pay your down payment and closing costs! At first, the money will be “loaned” as a second mortgage; however, no monthly payments are due. A percentage of the loan is forgiven each year that the homebuyer occupies the home with no accrued interest. After a specified term, the loan is completely forgiven. All you have to do is annually certify that you still occupy the home for which the money was lent. Homeownership made possible! 

The only situations in which the remaining balance has to be repaid are as follows: the home is sold, ownership is transferred, the first mortgage is paid in full, or the purchaser no longer occupies the home as their primary residence. However, if the term specified in the contract has elapsed and the second mortgage has been completely forgiven, these conditions will not apply. 

Eligibility Program assistance is available for first-time homebuyers who earn 80% or less of the Area Median Income (AMI). The entire household income must qualify for the fixed-rate mortgage according to our approved lenders' guidelines. 

The income guidelines are adjusted annually and are as follows for 2017:

Family Size Maximum Annual Income
1 $44,750.00
2 $51,150.00
3 $57,550.00
4 $63,900.00
5 $69,050.00
6 $74,150.00
7 $79,250.00
8 $84,350.00

*2017 subject to change at any time

2017 Main Criteria to qualify for assistance:

• Only owner occupied (no rental properties)
• Must be first time homebuyer
• Cannot buy in Westminster, only cities in Adams County or unincorporated Adams County
• Must take the First Time Homebuyers education class
• Must fit income guidelines (see above)
• Must fit maximum purchase price guidelines. For Adams County 2016 year, it is $260,000
• Loan is forgivable 20% each year (5 years affordability period)
• 2nd lien on the property; after 5 years, ACHA will release
• Amount of assistance: 5% of purchase price or what is needed to close
• Must have at least 1% purchase price into transaction
• Must re-certify each year living in the property
• Must attend pre-purchase counseling to be qualified for the assistance 

Program guidelines may change without notice. For up-to-date information regarding parameters and for more information on classes or counseling, contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. or click here to register for a class.

Lenders – Be sure you are a CHFA approved lender before requesting to become a ACHA approved lender and to receive the lender packet from us. For additional information, contact the HOP administrator at 303.227.2059