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Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING Community Housing Program Application Instructions 1. Determine if you qualify for the program. Start with the income qualification check below. If you meet are under the threshold, provide supporting documents with the application. These documents are listed in this handout. 2. Work with a lender of your choice for pre-approval for a mortgage. 3. Attend a homeownership class. Applications are accepted prior to completion of the class. However, proof of competition must be provided prior to closing on the property. Links to class information: CHFA homebuyer education Homeownership workshops – Boulder County Boulder County workshop calendar 4. Complete and submit this application The processing of the application may take at least 2 weeks from the time a complete application is submittal. If you qualify, you will receive a qualification letter. If you do not, you will receive a notice explaining why. Provide a copy of the qualification letter to your lender. 5. Review the Community Housing Guidelines: LINK to Community Housing Guidelines Although the guidelines state there is a preference, the preferences are no longer applied. ► Income Qualification Check Is the combined household income equal or less than the maximum household income based on the number of members in the household? If yes, you may qualify if you demonstrate that the limits below are not exceeded. The maximum figures are set at 80% of the area median income for locally-funded programs. Household size 1 2 3 4 5 6 7 Maximum Household Income $84,400 $96,400 $108,480 $120,480 $130,160 $139,760 $149,440 AMI source: CHFA as of April 1, 2025 Planner For Official Use Only Case # Date Submitted SEE PAGE 8 FOR REQUIRED DOCUMENTS TO SUBMIT WITH APPLICATION ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING ► Applicant / Primary Contact Information Applicant / Primary Contact Name Email Address Address Phone # City State Zip Current gross income ► Additional Applicants – List information for all household members who are 18 years of age or older. ► Additional Applicants – List information for all household members who are younger than 18 years of age. Date Owner / Applicant Signature ► Applicant Certification Applicant / Primary Contact Name Email Address Address Phone # City State Zip Current gross income Applicant / Primary Contact Name Email Address Address Phone # City State Zip Current gross income Applicant / Primary Contact Name Email Address Address Phone # City State Zip Current gross income Name Name ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING Questions 1. Have you or any household member owned any residential property within the last 3 years? yes no a. If yes, what is the address and state: b. Do you still own the property? yes no c. If the property was sold, please list the date of sale: d. If you still own the property, what is the market value of the home? e. If you still own the property who is the lender? f. If applicable, what is the contact information for the lender? g. What is the unpaid 2. Do you or any of the household members own other real estate? yes no a. If yes, please describe: 3. Have you or any household member been separated or divorces within the last 3 years? yes no Income & Asset Information Please provide the income information for all household members 18 years or older who receives income. If anyone is self- ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING employed, note that in the employer column. Income Employer Type of Income Anticipated net income for next 12 months Household Member’s name Clarification - if needed Employer #1 Wages/salary $ Overtime pay $ Commissions $ Fees/tips $ Bonuses $ Employer #2 Wages/salary $ Overtime pay $ Commissions $ Fees/tips $ Bonuses $ Employer #3 Wages/salary $ Overtime pay $ Commissions $ Fees/tips $ Bonuses $ Employer #4 Wages/salary $ Overtime pay $ Commissions $ Fees/tips $ Bonuses $ Employer #5 Wages/salary $ Overtime pay $ Commissions $ Fees/tips $ Bonuses $ Employer #6 Wages/salary $ Overtime pay $ Commissions $ Fees/tips $ Bonuses $ Employer Type of Income Anticipated net income for next 12 months Household Member’s name Clarification - if needed ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING Employer #7 Wages/salary $ Overtime pay $ Commissions $ Fees/tips $ Bonuses $ Total household income $ Benefit Payments (if applicable) Benefit Anticipated gross income for next 12 months Household Member’s name Clarification - if needed Social Security $ $ $ $ $ Supplemental Income (SSI) $ $ $ $ $ Supplemental security disability (SSDI) $ $ $ $ $ Worker’s Compensation $ $ $ $ $ Disability pay/benefits $ $ $ $ $ Unemployment insurance $ $ $ ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING $ $ Severance pay $ $ $ $ $ Annuities $ $ $ $ $ Insurance policy payments $ $ $ $ $ Pension $ $ $ $ $ Retirement benefits $ $ $ $ $ Death benefits $ $ $ $ $ Armed forces pay $ $ $ $ $ ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING Total benefit payments $ Alimony & Child Support – provide court order of each type of support if applicable Type Anticipated net income for next 12 months Household Member’s name Clarification - if needed Alimony $ $ $ $ $ Child Support $ $ $ $ $ Total support income $ Other Sources of Income if applicable Type Anticipated net income for next 12 months Household Member’s name Clarification - if needed Gifts $ $ $ Lottery $ $ Other $ $ $ Total support income $ Verification of Employment Please have the verification form at the end of this document completed by all employers of all household members. Required Application Documents All of the following documents must be submitted before the application can be processed. If any item is not applicable, please note it next to the line. ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING ♦ Completed application, signed and dated ♦ A completed employer verification form OR a letter from the employers of each member of the household, on letterhead, indicating your annual gross wage, start of employment, pay schedule, expected wage increases and any overtime, bonuses, tips or commissions ♦ Copies of three month’s worth of most recent pay stubs for each member of the household ♦ Verification of all other sources of income (Social Security, Social Security Disability, pension, etc.) for each member of the household ♦ Complete copies of the two most recent Federal and State income tax returns, all corresponding W2’s and all attached schedules, for each member of the household ♦ If a household member is self-employed (full or part-time), submit a year-to-date profit/loss statement AND three years of federal income tax returns. Please also submit an estimate of the income the household member will receive for the next 12 months and an explanation as to how the member came to that number ♦ A statement from each household member’s financial institution documenting the 6-month average balance of each member’s checking account OR copies of 6 months of checking account statements ♦ A copy of each household member’s most recent savings account statement, including the interest rate ♦ A pre-approval letter from a lender, based on a tri-merge credit report, stating the principal, interest rate, front and back end ratios, estimated PITI payment, type and terms of the households loan, or a loan application from the households lender ♦ If the household is receiving any other form of down payment assistance (a personal gift/or aid from another program), submit a letter from the 3rd party offering the assistance describing the amount and type of assistance. ♦ If a household member has been separated or divorced within the past three years, submit a copy of the divorce decree AND verification of the division of marital assets, court-ordered custody arrangements and child and/or alimony payments (this information is often documented in the separation agreement). ♦ If a member of the household currently owns a home, submit a recent appraisal of that home or most recent Assessor’s statement and the member’s most recent mortgage statement. ♦ If a member of the household had joint ownership in a property within the last three years and are no longer on the Title, submit a Quit Claim Deed showing the termination of the member’s interest in the property. ♦ Proof of homeownership class attendance ♦ Signed certifications sheet ♦ Signed program stipulation acknowledgement sheet Certifications ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING It is our policy to verify all information contained in this application. In acknowledgement of this policy, please sign your name(s) where indicated. I/we certify that: • All the information contained and submitted in support of this application is true and complete to the best of my/our knowledge and belief. • I/We are aware that any misrepresentation will result in the forfeiture of my/our right to participate in the City of Lafayette Community Housing Program and may result in legal action against me/us. • Consent to release Information: I/we authorize representatives from the City of Lafayette Community Housing Program to supply and receive information to/from my/our employer(s), my/our financial institution(s), other housing/down payment assistance programs, my/our Realtor and/or my/our Mortgage Lender to verify the information contained in this application. This information includes, but is not limited to bank statements, employment status, income, outstanding debts and other financial information. I also authorize representatives from the City of Lafayette Community Housing Program to allow inspection and reproduction of any financial records or information in their possession. We understand that information in this application may be shared with funders for the purpose of funding compliance. I/We understand that the income I/we use to qualify for a mortgage loan amount must be the same as the income I/we claim in this application. I/We release all representatives from the City of Lafayette Community Housing Program from any and all liability arising from release of such information. This authorization is limited solely to information requested for the processing of my/our application for the City of Lafayette Community Housing Program. • If I/we purchase a home under the City of Lafayette Community Housing Program, I/we will occupy the home and agree to use the home as my/our primary and principal residence. • I understand that completion of this application does not guarantee that my/our eligibility for the programs and/or that I/we will successfully purchase a home through the City of Lafayette Community Housing Program. Primary Applicant Signature Applicant #2 Signature Equal Opportunity: In accordance with the provisions of the Equal Opportunity Act and the City of Lafayette Community Housing Programs’ policies, there will be no discrimination against an applicant for these benefits on the basis of age, source of income, sex, race, marital status, sexual orientation, national origin, religion or handicap. If you or a member of your household is an individual with a disability, you have the right to request reasonable accommodation for that disability. The City of Lafayette Community Housing Program is committed to assuring that each individual has an equal opportunity to the use and enjoyment of the benefits of this program. For more information, please contact the City of Lafayette Community Housing Program. TDD service for those individuals with hearing and speech disabilities is available through Colorado Relay Service at 1-[PHONE REDACTED]. Confidentiality: In order to process an application, the City of Lafayette Community Housing Programs may supply and receive information as detailed in the “Consent to Release” clause above. Information may also be released to comply with the auditing requirements of program funders. With these two exceptions, all personal and identifying information on an application remains fully confidential. Program Stipulations Acknowledgement I/We have read and understand the following stipulations to own a Permanently Affordable Housing Unit (PAHU). ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING I/we understand these are only a basic review of the PAHU stipulations, and a more detailed description is available upon request and will be reviewed and signed at the sales closing. Initials: The PAHU that I/we am/are purchasing will be permanently deed restricted or encumbered in perpetuity by a real covenant or other legal restriction that ensures that the units shall be sold, at the time of the initial and each subsequent sale to a Household earning not more than the Numerical Eighty Percent (80%) of the Area Median Income. Initials: After the initial sale, the PAHU unit may be sold for a price that is the lesser of the initial sales price, plus three percent per annum simple interest on that sales price, and the initial sales price, plus a percentage per annum of simple interest that is equal, on an annual basis, to the percentage increase in the Consumer Price Index for each year in which the determination is made. Initials: When I/we decide to sell the PAHU, I/we will contact the Program Administrator to review the resale restriction, sales price, and listing of the property. Initials: I/We must occupy the unit as my/our primary residence during my/our ownership of the PAHU. Primary residence shall be defined as residing in the unit for more than nine months out of any twelve (12) months. Initials: If I/we must leave Lafayette for a limited period of time and desire to rent the PAHU during my/our absence, a leave of absence may be granted by the Program Administrator for up to two years. A request shall be submitted at least 30 days prior to leaving and shall include the reason(s) for the leave of absence, expected duration, the intent to rent the unit. Initials: Primary Applicant Signature Applicant #2 Signature Verification of Employment ---PAGE BREAK--- Planning & Building Department 1290 S. Public Road, Lafayette, CO 80026 [PHONE REDACTED] [EMAIL REDACTED] PLANNING AND BUILDING