The Douglas County Housing Partnership (DCHP), a multi-jurisdictional housing authority, was formed as a cooperative effort between businesses, and local and county governments to address the lack of affordable housing for people who work in the area.
The DCHP operates with financial support from the City of Lone Tree, the Towns of Castle Rock and Parker, and Douglas County as a political subdivision and public corporation of the State of Colorado.
The DCHP’s Down Payment Assistance Program is a homeownership program that provides low- and moderate-income individuals and families the opportunity to purchase their first home in Douglas County. The DCHP allows individuals to borrow at a low-interest rate, which increases their ability to make a purchase and helps bridge the gap between low wages and high housing costs. The DCHP serves approximately 515 clients annually.
Borrowers who meet the qualifications receive $15,000 toward the purchase price of the home for down payment assistance. This assistance is in the form of a traditional second mortgage where participants select a 30-year loan amortization with current interest rates at 3 percent. This creates a low monthly payment allowing income-qualified families to achieve the minimum requirement of a down payment on their first home while making it affordable to them.
Through this program, the DCHP will also offer first-time homebuyer education classes to County residents on a monthly basis. The classes will use a curriculum established by the CHFA and the Fannie Mae Foundation and focus on providing awareness of the process of purchasing and maintaining a home.
Contact: Artie Lehl at 303-784-7857
Sign up for a free Homebuyer Education Class offered through DCHP that covers all the things you need to know about the homebuying process.
The Colorado Foreclosure Hotline is a free service to Colorado homeowners who have questions about their home loans. If you have missed a mortgage payment, if you are in foreclosure, or if you think you may miss a payment, we encourage you to contact a housing counselor through the Foreclosure Hotline at 1-877-601-4673.
Foreclosure mitigation counseling is available through the DCHP.
DCHP offers HUD-certified counseling required for persons interested in obtaining a reverse mortgage. A Reverse mortgage, also called Home Equity Conversion Mortgage (HECM), is a loan for people above the age of 62 that uses some percentage of a home’s equity as collateral in exchange for cash to the borrower most often in monthly payments. Typically, the loan is not repaid until the last surviving homeowner permanently moves from the home or passes away.