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Pilot program for first-time homebuyers launched in Colorado
Oakwood Homes, Nest Home Lending and Colorado Housing and Finance Authority partner to address affordability
ColoradoBiz staff //December 10, 2024//
Photo courtesy of Oakwood Homes.
Photo courtesy of Oakwood Homes.
Pilot program for first-time homebuyers launched in Colorado
Oakwood Homes, Nest Home Lending and Colorado Housing and Finance Authority partner to address affordability
ColoradoBiz staff //December 10, 2024//
A pilot program announced Tuesday aims to make first-time homebuying in Colorado more affordable. Oakwood Homes, Nest Home Lending and Colorado Housing and Finance Authority (CHFA) are partnering to pair a builder-paid interest rate buydown with CHFA’s first mortgage loan and down payment assistance programs.
“We’re excited to partner with CHFA and Nest Home Lending to exclusively offer first time homebuyers a comprehensive solution for addressing any financial barriers that may stand between Coloradans and their dreams of homeownership,” said Michael Fraley, Oakwood Homes chief growth officer.
Prospective homebuyers will have the opportunity to purchase their first home with competitive financing, low down payment options and additional resources. Nest Home Lending will provide the mortgage options and expert guidance tailored to each buyer’s unique needs.
“CHFA’s commitment to supporting Coloradans in achieving responsible, affordable homeownership closely aligns with this pilot program’s mission. This new partnership builds upon the success of CHFA’s 50-year track record of helping Coloradans by pairing our loan and down payment assistance resources with an interest-rate buydown from Oakwood Homes,” said Dan McMahon, director of home finance at CHFA, a self-sustaining public enterprise. “CHFA looks forward to exploring how this pilot program may expand in the future with even more partners to advance affordable homeownership across the state.”
Oakwood Homes communities in Colorado include Green Valley Ranch, The Reserve, Muegge Farms, Banning Lewis Ranch, The Retreat, Reunion, Erie Highlands and Thompson River Ranch. Information on how to qualify and apply for the pilot program can be found online.
