Fort Collins Approves metroDPA Financing Option
- Jill Marx, Communications Specialist, 970-221-6951, firstname.lastname@example.org
- Sue Beck-Ferkiss, Social Sustainability Lead Specialist, 970-221-6753, email@example.com, Website: Website
Fort Collins City Council added to the available down payment options available to buy homes in the city by electing to participate in metroDPA. metroDPA, a program offering 30-year fixed rate mortgages with down payment assistance, is now available to Fort Collins homeowners, lenders, realtors and economic development organizations. More than 1,500 Colorado families have participated in metroDPA statewide since its inception.
The program, which aims to increase homeownership in Colorado communities, offers various levels of assistance—up to 6%—that help borrowers with closing costs and down payments. The assistance is 0% interest and forgiven monthly over three years, after which no repayment is required.
metroDPA serves a wide range of borrowers with competitive rates, including first-time homeowners and those who have purchased a home before. The program does not have purchase price restrictions and offers a generous income limit.