Home Corner

Jul 09, 1998

The Aspens Home Corner
by Debra Thornton-Williams
Are you renting at The Aspens? Do you wnat to buy your own home, but have been unable to save money for a down payment?
You may qualify for a first time home buyer program called the City of Aurora Home Ownership Assistance Program.
Founded in 1984, Aurora HOAP is dedicated to making affordable housing a reality for buyers who are under 80% median income. This means that there is a maximum income restriction by household size. This is defined as the number of the people residing in the home including, all minor children, spouses, fianc?©es, roommates, and relatives.
Number of People Maximum Income

1 $31,200
2 35,650
3 40.100
4 44,550
5 48,100
6 51,700
7 55,200
8 58.800
To qualify as a first time home buyer you may not have owned a home within the past three years, and may only have a small amount of savings. You must also qualify for the mortgage according to the lenders guidelines. The property that you must purchase must be in the City of Aurora, and must be a single family residence, condo or townhome. The program offers financial assistance for up to one half of the closing costs, depending on the type of loan, up to a maximum of $2,000. This program assists 25 households a month. To find out if you can qualify for the program, and to get information on the additional requirements, call Aurora HOAP at 303-360-0053, or Debra Thornton-Williams at 303-915-6309.