Prior to submitting an application for the homeownership program, the applicant(s) must be pre-approved by a mortgage lender, and be under contract to purchase an affordable home. Please notify your realtor and lender of your interest in purchasing an affordable home and provide them with our contact information should they have any questions. We can be reached at 720-913-1634, or at email@example.com.
Before you submit your application for eligibility for the Affordable Homeownership Program, please make sure your application is complete by reviewing the Application Checklist(PDF, 98KB). An incomplete application can delay the review process. Below is a list of required documents to apply:
- Purchase Contract - A copy of the signed purchase contract for the affordable home you wish to purchase.
- Loan Application - Completed loan application form from the lender (form 1003).
- Authorization to Release(PDF, 89KB): Please fill out if authorizing HOST to communicate or exchange information regarding your application to others.
4. Income Documentation:
- Verification of Employment (VOE)(PDF, 155KB) – A VOE form must be completed for each employed household member. The VOE is to be completed by the household member’s supervisor/manager.
- Paystubs– Two months of the most recent consecutive paystubs for each employed household member.
- Award Letter(s) - If receiving unemployment, social security, pension, survivor, disability, TANF, etc.
5. Self-employed applicants –Must include the following documents:
6. Bank Statements – Two months of the most recent and complete bank issued statements for all bank accounts held by each household member. Please do not provide screen shots or pictures of statements. Please provide all pages of monthly bank statements.
7. Asset Statements – The two most recent asset statements for all asset accounts including, but not limited to, 401Ks, pensions, stocks, bonds, money market accounts, trust accounts, etc. Please note, dividends and interest from all asset accounts are included in the calculation of a household’s income.
8. Tax Transcripts - . Tax Transcripts - Individual and business Federal Tax Return Transcripts for the last two years for all employed household members are required. You can request Federal tax transcripts at http://www.irs.gov/Individuals/Get-Transcript, or you can call the IRS at 1-800-829-1040 and request a transcript. Note: Federal Tax Return Transcripts are different from Tax Returns. Please be sure that you are submitting the Transcript from the IRS to avoid delays in processing your applicant.
9. Court Issued Orders - Please provide a copy of the following Court Orders when applicable:
Court proceedings must be finalized prior to purchasing an affordable unit. An order is not official without a judge’s signature.
- Executed Divorce Decree
- Separation Agreement
- Child Support Orders
- Maintenance/alimony Orders
10. Financial Gifts – Financial gifts are restricted to 20% of the purchase price of the affordable home. Gift funds must be solely used towards the purchase of the affordable home (i.e. down payment) and the gift letter must include the following information:
- Who is receiving the gift funds;
- The name and relationship of the person giving the gift funds;
- The exact dollar amount of the gift funds; and
- A statement that no repayment is required and that the gift funds will be used solely for the purchase of a Denver affordable home.
11. Housing Counseling Class Certificate – Applicants are required to complete a HUD Certified Homebuyer Counseling Class. Classes can be taken on-line or in-person. HOST partners with several non-profit organizations that offer the required FREE homeownership counseling classes. These classes include information on how to obtain a home mortgage, how to prepare for homeownership, closing process information, home maintenance, possible down payment assistance, etc.
Income Verification Application: If you have the documents above, you are ready to start your Income Verification application. Begin your income verification application.