Home Restrictions

Each home has a specific income limit. The home cannot be sold to households earning more than this amount but can be sold to households earning less.

Each home listing will list the income limit for the home. The limit is adjusted based on the household size; more people in the household means a higher income limit.

The maximum resale price for permanently affordable homes is determined by the covenant not the market.

A formula in the covenant is used to calculate the maximum resale price.

Resale price formula:

Purchase price - Solution Grant (if received) + Annual Appreciation (amount depends on changes in area economic indicators) + Approved Cost of Improvements (limited items) + Agent Compensation/Marketing Costs (either 2.5% agent compensation split between buyer agent and seller agent OR 1.25% buyer agent compensation plus $550 for marketing if for-sale-by-owner) + Closing Costs ($650, this may not cover full closing costs) - Cost to repair excessive damage (based on inspection) = Maximum Resale Price

• Annual Appreciation – Between 1% to 3.5% of the home’s purchase price is added each year. The exact amount is based on changes in some local economic indicators. If you received a Solutions Grant, appreciation is calculated from the purchase price minus the grant received.
• Approved Cost of Improvements – The cost of some home improvements can be added to the price. This is limited to a few items, learn more on the Capital Improvement Policy webpage.
• Cost to Repair Damage – If the home is not kept in good repair the price may be reduced. Owners can make repairs to avoid a price reduction.
• Agent Compensation/Marketing Costs – Costs that cover some of the sales/marketing costs. For households using real estate agents 2.5% agent compensation is added. For households are not using agents a flat fee of $550 is added.
• Closing Costs – A flat fee of $650 is added toward closing costs. This may not cover the full amount of closing costs.

Specific steps must be followed when selling a home in the program. This includes a 30-day marketing period, showing requirements and the program selects the buyer through the Fair Selection Process.

A home cannot be refinanced for more than 90-93% of its current value, depending on the type of loan. Learn more on the Loan Requirements webpage.

Boulder Regional Affordable Homeownership Program homes must be owner occupied, and, in most cases, they cannot be rented. There are some limited times when an owner can rent.

Rentals are limited by the covenant and local rental rules.

Learn more about occupancy and rental requirements. Request authorization for an allowed rental.