House to Home Ownership Down Payment Assistance Loan Program

Funding Partners for Housing Solutions in partnership with local jurisdictions and FirstBank have a program available to provide loans to moderate income families who need help to purchase their first home. Called H2O, this program provides a deferred adjustable interest rate loan for qualified home purchasers to cover down payment and closing costs. No monthly repayments of this loan are normally required for ten years unless certain situations arise. After the tenth year, the loan must then be repaid in full. The amount repaid is based on the loan amount AND how much the home purchased has appreciated during the term of the loan.

To qualify, eligible families must fall below a certain income level, have $1,000 to use toward purchase costs, not have owned a home within the previous three years, live in the home purchased, qualify for a mortgage to purchase the home, and attend home owner training.

For further information you can call 970-494-2021 or check the website (see related links).