DOWNPAYMENT ASSISTANCE PROGRAM

SAN MIGUEL REGIONAL DOWN PAYMENT & CLOSING COST ASSISTANCE PROGRAM

The San Miguel Regional Housing Authority assists qualified applicants make home ownership a reality through the down payment and closing cost assistance program. Funds are made available to qualified families working in San Miguel County. SMRHA works with all responsible mortgage professionals that provide the primary purchase loan and who apply for the San Miguel Regional Housing Authority down payment assistance loan on behalf of the qualified family.

Made possible by grants received from:

  • Town of Telluride, San Miguel County, and the Town of Mountain Village
  • Telluride Association of Realtors and the Telluride Foundation

PROGRAM INTENT

The San Miguel Regional Down Payment and Closing Cost Assistance Program (DPCC) offers financial assistance through low-interest loans to residents of San Miguel County, toward the down payment or closing costs for the purchase or construction of a home. The program is designed to help buyers, who have no other mechanism available, to qualify for a loan and have no other resources for DPCC assistance. This program is not exclusively for first-time home buyers; however, previous homeowners may be required to demonstrate need. The loan is for 15 years with no monthly payment. The loan will become immediately due upon the sale, transfer, refinance, such time when the home is no longer the primary residence, or death of the buyer.

Read about the program and information about eligibility and procedures in the documents below:

Read about the program in the SMRHA Down Payment and Closing Cost Assistance Loan Program Brochure: VIEW PDF »

Get more details about the program including information about property and buyer eligibility in the SMRHA Down Payment Assistance Program Guidelines: VIEW PDF »

2017 Income Table VIEW PDF »

Loan Origination Procedures: VIEW PDF »


REHABILITATION PROGRAM

Funds are available for low income homeowners through the Delta Housing Authority to rehabilitate their home.  Please see the flyer for the contact information to see if you qualify for the low interest loan.

If you have trouble downloading documents from this website or find broken links please contact Elke at the Housing Authority office: E-mail: elke@smrha.org or 970-728-3034 ext.2.