BOULDER, Colo.–For almost 100 first-time homebuyers in Colorado, the dream of owning a home is a little closer.
With a nearly $1 million grant from the FHLBank Topeka – Affordable Housing Program and support from Elevations Credit Union, the Local Change Foundation has launched the Local Change Down Payment Assistance Program to help eligible residents afford their down payments.
A grant of $10,000 toward down payment will be offered to 95 would-be homeowners. To be eligible, applicants must earn ≤80% of area median income (AMI) and obtain mortgage through Elevations Credit Union. Fifty percent of funds reserved for those earning ≤60% AMI
“This grant allows us to turn the dream of homeownership into a reality for almost 100 families who’ve been priced out of the market,” said Jennifer Hinderliter, executive director of the Local Change Foundation. “When people have stable housing, it strengthens entire communities — supporting better health, educational outcomes, and long-term economic opportunity.”
Housing affordability is a growing concern across Colorado, with the credit union noting Boulder County’s median home price: $750,000 — a 50% increase since 2013
