Homeownership

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The City of Thornton partners with several agencies to provide assistance to first-time homebuyers. The programs listed below provide a variety of assistance from home-ownership classes and counseling to down payment and closing cost assistance and below-market interest rate mortgages. Each program has different income qualification and program guidelines. Contact the agencies listed below for more information, or contact the Policy Planning Division, at 303-538-7295.

Buy an Affordable Home in Thornton!

Citizens can now take advantage of an exciting new opportunity available in Thornton. Thanks to a partnership between the City of Thornton, the Colorado Housing and Finance Authority (CHFA) and Mercy Housing, citizens can purchase newly renovated homes at below market price.

The Thornton money will fund CHFA mortgage loans to 28 families buying houses in Thornton. Potential homeowners will be encouraged to buy through Mercy Housing's homeownership program. Mercy Housing acquires foreclosed houses in the Denver metro area from the U.S. Department of Housing and Urban Development (HUD). The local housing group then refurbishes the homes, and offers them for sale at 80 percent of the area's median income, roughly $50,900.

Thornton families participating in the new program can make no more than 115 percent of the area median income, or $64,600. Families who qualify for the program will work with Realtors and lenders previously screened by Mercy Housing. The city hopes the funds -- and the new partnership -- will help reduce the number of vacant homes on the market in Thornton. Please use the following link for more information...

Mercy Housing, Colorado

Home Buyer Assistance

The following organizations provide home buyer assistance to Thornton residents...

Colorado Housing and Finance Authority (CHFA)

303-297-7376... In August 2007, the Thornton City Council allocated $4 million in private activity bonds to fund homeownership assistance through CHFA. This funding enables qualified Thornton residents to receive low-interest mortgages and cash assistance for down payment and closing costs. These funds are available on a first-come first-serve basis. All borrowers are required to complete a free homebuyer education course before purchasing a home. Through these classes, citizens can gain insight into selecting a real estate agent and lender, financing a home, choosing a mortgage and understanding loan interest rates.

Adams County Housing Authority (ACHA)

Homeownership Hotline: 303-227-2089... The Adams County Housing Authority operates several programs to increase the supply of affordable housing in Adams County. The Housing Authority�s Homeownership Opportunities Program provides assistance to homebuyers in all of Adams County. The Housing Authority offers free home buyer education and counseling, down payment and closing cost assistance and below market interest rate financing. Citizens must income-qualify to participate in the closing cost, down payment assistance or reduced rate mortgage programs.