Eligible citizens interested in purchasing their first home, townhome or condo in Douglas County have additional support with the Douglas County Housing Partnership's (DCHP) new Shared Equity Program.

"The real estate community is very excited about this new option because in their view, it will provide just the incentive needed for families to be able to purchase a home in Douglas County," said Executive Director of the DCHP Bonnie Osborn.

The DCHP provides the minimum amount necessary to bridge lender requirements and resources available to the buyer up to 20 percent of the purchase price or $50,000, whichever is smaller, in the form of a down payment. This down payment is a deferred loan that is repaid by the buyer when the home is sold or refinanced.

Eligibility requirements include:

· Must be a first-time homebuyer, which includes persons who have not
owned a home in the last three years, single parents who have owned
prior with a spouse and displaced homeowners.

· Must work within the limits of Douglas County.

· Income limits are in two categories - below 80 percent of the Area Median
Income (AMI) and below 100 percent of the AMI.

· Borrowers under 80 percent of the AMI must contribute at least $1,000
towards the purchase.

· Borrowers above 80 percent of the AMI must contribute at least 3 percent
of the purchase price.

· Borrowers must occupy the home full time as their primary residence.

Homes purchased by using this program must be single family homes that are less than $250,000 or townhomes/condos that are less than $225,000. The DCHP will review all applications, and inspections and appraisals will be required.

The DCHP also offers free Homebuyer Education Classes, a Down Payment Assistance Program and a Foreclosure Mediation Program. For more information, please visit www.douglascountyhousingpartnership.com or contact Travis Anderson, program director of the DCHP, at 303.784.7857.