How to Apply
Step One: Attend Orientation
Orientation is the first step in the process so buyers can decide if this program is the right fit for them. This class will help buyers understand the eligibility requirements, application process, and their rights and responsibilities as an owner in the program.
A one-hour class is offered in person once per month (https://bouldercolorado.gov/links/fetch/17031), or a 35-minute version is always available online (https://bouldercolorado.gov/homeownership/homeownership-on-line-orientation).
Step Two: Contact a Lender
Choose a lender, submit their required documents, and receive mortgage loan pre-approval. The city requires a pre-approval letter and a copy of a loan application as part of the program application. A list of lenders is on our website, though one is not limited to lenders on this list. If one chooses to work with a lender not familiar with the program, please direct them to the "For Lenders" section of our website.
Step Three: Submit an Application
Complete the Boulder County Homeownership Programs Common Application. Applicants will need to attach all required supporting documentation requested in the application. If it is discovered information is missing from an application submitted, this information must be provided within 30 days of when the application was originally submitted.
Your application will need to be dropped off in person or mailed to us. At this time, we are not accepting electronic submissions. Additionally, we are limited to printing 10 pages maximum per application should there be the need to email documentation.
For the purpose of the selection process application deadlines, we will not consider an application complete until all documents listed in the application have been received. Staff requires up to 10 business days to process application documents to check for completeness.
The Boulder County Homeownership Programs Common Application enables applicants to apply to all of the following homeownership programs: City of Boulder, Thistle Communities, and Boulder County Down Payment Assistance Program. We will share an application with other programs as indicated by the applicant on the application cover page.
Step Four: Attend the Homebuyer Education Class
The Homebuyer Education class must be completed by buyers prior to going under contract on a home. The best time to take this class is while one is looking at homes. The class will provide information about the home purchase and closing process.
The "Required Classes" link to the right has class schedules, locations, times, and registration information. Most buyers take the class through Boulder County's program, but you can take it anywhere in the state. To find Boulder County dates: http://www.bouldercounty.org/family/housing/pages/workshops.aspx#housingeducation. To find other dates in Colorado through an approved agency: http://www.chfainfo.com/homeownership/Pages/homebuyer-education.aspx.
Applicants who are or have been a homeowner, still must take this class. The class expires after three year, so if an applicant does not purchase a home in that timeframe they will need to take the class again.
Step Five: Shop for a Home
Households that qualify for the Permanently Affordable Homes Program should look at our website for a list of currently available homes. Homes listed in the past 30 days are on the "Newly Listed" page, but other homes are available and listed by the number of bedrooms. A real estate agent can help set up showings, and open houses will be listed on our website.
Households qualifying to use the Shared Appreciation Loan (H2O) can work with their real estate agent to look at market rate homes in the City of Boulder.
A list of Real Estate Agents is on our website, though one is not limited to agents on this list. If one is working with an agent not familiar with the program, they should be directed to the "For Realtors" section of our website.
Step Six: After You Apply
The preliminary program certification is valid for six months. At the end of six months, applicants may recertify for free. Recertification materials are due two weeks before their current certification expires. It's recommended to plan ahead. Staff requires up to 10 business days to process recertification documents to check for completeness. The only item that can be updated during a period of certification is a change of address. Changes to income, assets and other household demographics will be adjusted at the end of the six months if an applicant recertifies.
Once an applicant has a signed contract to buy a home, the city will review the contract, inspection, loan, and other buyer documents. If these items meet program requirements we will issue a “final certification” letter.
Once an applicant has received final certification, they are eligible to purchase/close on the home. At closing, buyers will sign documents prepared by the City of Boulder, including the Covenant. To prepare for closing buyers will meet with a City of Boulder Homeownership staff member approximately one week before closing to review these documents.
The City of Boulder, Division of Housing does not discriminate on the basis of race, color, religion, gender, age, national origin, disability, marital status, familial status, sexual orientation or military status in any of its programs, services or activities. For more information on legal notices and resources, visit: bouldercolorado.gov/housing/legal-notices