YVHA-developed properties have income restrictions/eligibility requirements that must be met in order to submit an application. Look at the Area Median Income (AMI) chart below to determine if you meet the eligibility criteria. For more information contact us.

Read the great checklist from the Department of Housing and Urban Development to help you identify what you need to buy your first home: https://www.hud.gov/topics/buying_a_home

The newest program Home Base, launched by The City of Steamboat Springs, is a homeownership program designed to help local workers put down roots in Steamboat while preserving housing opportunities for the workforce that supports the community every day.

Through the deed restriction purchase program, qualified local employees can receive financial assistance to purchase a home within city limits, creating a pathway to ownership without income restrictions. By investing in local homeownership, the program helps strengthen a vibrant, year-round community and ensures more homes remain available for future generations.

Please find deed restriction buying options at the links below:

• The City of Steamboat Springs’ Home Base program
• Routt County Clerk and Recorder’s office
• Contact YVHA for questions about your deed restricted home

All of our local lenders are familiar with the three Down Payment Assistance Programs available in Routt County. If you are interested in exploring this option, talk to your local lender and they can walk you through the steps to apply for a DPA loan. Continue reading for more information on each program.

Need more information? Email: sales@yvha.org or call: (970) 439-0407 to speak with a YVHA sales team member or set up an appointment.

The Yampa Valley Housing Authority (YVHA) has established a Down Payment Assistance Program to assist local home buyers by providing 10% or up to $20,000 of the purchase price of a home. Some of the key elements include:

• Eligible Borrowers: Borrowers purchasing a home who do not own other real estate at time of closing. Borrower must be employed a minimum of 1650 hours annually (32 hours weekly).
• Property Type: Permanently affixed single family residences, townhome, condominium or duplexes located within the Routt County. Home must be primary residence.
• Income Threshold: Up to 150% of the most recently published HUD Area Median Income. In 2025, this is up to $136,500 for an individual and up to $195,000 for a family of four.
• Loan Amount: 10% of the purchase price with a maximum of $20,000.
• Interest Rate: YVHA loan will carry a fixed interest rate, established at the time of application, equal to the Wall Street Journal Prime Rate minus 2.00%.
• Link to YVHA Countywide DPA Guideline Fact Sheet

The state of Colorado passed legislation to make it easier for Coloradans to own homes. Some of the key elements include:

• Eligible Borrowers: First time home buyers as defined as by FHA/HUD with priority for first-generation homebuyers. The purchased unit must be the borrower’s primary residence while the loan is outstanding.
• Eligible Properties: Single family homes; townhomes; condominiums; duplexes; or manufactured and modular homes on permanent foundations or properly tied down, on land owned by the homeowner, or within a resident-owned community mobile home park. Property must be located in a Routt County community that has filed a Proposition 123 commitment (currently: Steamboat Springs, Hayden, Oak Creek, and Yampa). The property must be owner/seller occupied or vacant at the time an offer is made.
• Income Threshold: Income up to 120% or less of the most recently published HUD Area Median Income updated annually and published on CHFA’s website, adjusted for actual household size, in the Routt County. Minimum income is 50% AMI.
• Loan Amount: Up to ten (10%) percent of the purchase price with a maximum loan amount of $20,000. Minimum loan amount is $5,000.
• Debt Ratio: Maximum front end ratio of 35% and maximum back-end ratio of 45%
• Use of Funds: Down payment and closing costs.
• Homebuyer Training: Required on all loans, by a HUD-approved counselor or agency.
• Term: Fifteen (15) years
• Interest Rate: Zero (0) interest rate
• Repayment: No monthly payments required. Loan is due upon sale, transfer or refinance when house is no longer primary residence or upon death of Borrower.

Homebuyers using one of CHFA’s first mortgage loan programs to finance their home purchase are eligible to use CHFA assistance options to help with down payment and/or closing costs. Even if you contribute towards a down payment, you may still use one of the options below:

• Down Payment Assistance Grant
• Second Mortgage Loan
• Visit CHFA’s website for more information:
  • https://www.chfainfo.com/homeownership/down-payment-assistance