Families that meet the low income requirements set by HUD annually (check here), the Denver Housing Authority (DHA) owns and manages over 3,900 subsidized, and affordable rate units. The properties range from townhomes, to high-rise communities, to scattered single family homes throughout the City and County of Denver. To review the property list, visit DHA’s website.

You can Home Share through Home Partners. This program allows you to find a home to rent, with the option (but no obligation) to buy within the next 3-5 years. You apply, qualify, and find a home for sale on the market, then Home Partners will buy it. You then rent the home from them and have the right to buy it for their listed market price (your rent does not go towards the purchase). The lowest rent available is typically $1200 and you can even search for houses near local high schools. This is a great option to test out a home before you buy it and complete the loan process on your timeline! Visit the Home Partners website for more information, including income minimums; eviction, criminal, and bankruptcy background checks; and stable employment. 

You can homeshare with a senior through Sunshine Homeshare. This program matches seniors with available rooms to those seeking more affordable housing. This helps a senior remain in their home and helps those seeking housing get discounted rent in exchange for household chores. The program involves an extensive matching process and a week long test-run. To learn more and apply, visit Sunshine Homeshare’s website.

The most effective websites to search for rentals in the Denver area are:

• Apartment Guide
• HotPads
• Pad Mapper
• Renters Warehouse
• Trulia
• Zillow
• Zumper
• Facebook: groups like Denver Housing and Subletting; Denver Area Creative Housing; and Denver Collective Housing Network
  

Sublet in the University neighborhoods. With four universities in Denver, there are many opportunities to sublet from students who have left for the summer. This is especially true around the University of Denver which has great access to the Light Rail. Facebook has subletting groups like University of Denver (DU) Housing, Sublets, & Roommates.

You will likely find a better deal on housing if you move to the area first and search for housing while you are here. It is much easier to find housing by walking around, driving through neighborhoods, and talking to people than trying to find a place remotely.

Consider House Sitting to have free (and sometimes paid) places to stay while you begin your housing search. Check out Trusted House Sitters; Luxury House Sitting; and Care.com to see if this is a good fit for you.

DPS is excited to share a down payment assistance opportunity, made possible thanks to a partnership with Landed - a San Francisco-based startup that helps essential professionals buy homes; and Ben and Lucy Ana Walton of Zoma Foundation, who have generously provided a $5 million philanthropic investment to help educators in Denver purchase homes. These organizations know Denver has become a challenging place to purchase a home, and they want to support DPS team members in buying a home in the community they serve. As of May 2019, Landed has held over 500 conversations with DPS educators, and 20 DPS educators have purchased a home with Landed. Read about Landed's First Year in Colorado.

How It Works

• The opportunity provides half of the 20% down payment on a home, up to $70,000 per household, to be paid back in the future. The assistance is available to all full-time employees who have worked in public education for at least two years, anywhere in the country. Participants do not have to be first-time home buyers to take advantage of this opportunity, and there are not any explicit restrictions on the home purchase location. Purchased homes must be used as a primary residence.

• Landed is a co-investment and not a loan or grant. When the homebuyer refinances or sells the home to end their partnership, Landed is paid back the original down payment funding plus 25% of any gain in the home’s value. If the home is sold and has lost value, then Landed shares in that loss as well, just like any true co-investment partner. View this step-by-step guide to learn more about how Landed works.

Questions? Landed has numerous resources available on their blog and website. Feel free to reach out to Landed at hi@landed.com for more information.

Habitat for Humanity of Metro Denver's homeownership program empowers working families to build and buy their own homes. With Denver's housing costs reaching record highs in recent years, becoming a first-time homeowner in our city has become increasingly hard. Habitat's homeownership program provides a hand-up to families so that they can get their foot in the door to purchase a home in metro Denver. 

Some qualifications do apply.

View this flyer for program information or visit their website for qualifications and more information on available programs. 

The Denver Educational Senior Citizens Incorporated (DESCI) Community Housing Fund provides rent assistance to low-income DPS employees, retirees, or members of their immediate families who are low-income. The rent assistance is $300 per month unless the rent is less that $300 per month. The applicant may not be renting from a family member. 

Questions? Visit DESCI’s website or call at 303-300-1790 ext. 126.

Denver’s Mortgage Credit Certificate (MCC) program allows qualifying borrowers to receive an annual federal income tax credit equal to 25% of the annual interest they pay on their mortgage loan ($2,000 yearly maximum). The tax credit enables a taxpayers to subtract the amount of credit from their annual total federal income taxes. Borrowers may choose to adjust their W-4 withholding to account for the tax-credit benefit and receive a higher net monthly income. Any excess credit from the MCC may be carried forward for up to three subsequent tax years. To apply, contact a participating lender at denver.gov/housing. Requirements: income limit for families of 2 or fewer: $100,680

Metro Mortgage Assistance Plus Program is a special grant program for low and moderate income individuals and families that seeks to bring the dream of home ownership within reach. As you apply for a 30-year fixed mortgage, you receive help with downpayment and closing cost assistance of up to 4% of your loan. To apply, contact a participating lender from this list. Requirements: income limits based on household size; you must have a minimum FICO score of 640, a maximum debt-to-income ratio of 45, and you must complete a HUD-approved homebuyer education course.

Colorado Home Financing Authority is a program typically for first time home buyers. CHFA offers assistance with downpayment and closing costs. In exchange for a higher interest rate, you can receive a grant for up to 4% of your mortgage. To participate, you must complete a CHFA-sponsored homebuyer education class. For more information, visit www.chfainfo.com/homeownership. 

EducatorMortgage.Com lends to educators (Teachers, Faculty, Coaches, Librarians, Nurses, Secretaries, Custodial/Facilities Staff, School/District Leadership, Professors, Adjunct Faculty, Counselors, any ISD/Higher EDU/Private EDU employees) with a 620 credit score or higher so homes can be purchased with as little as 3.5% down. The average turnaround time is 20 days and there are no fees, costs, or obligations. This is a great place to start your financing search. For more details, visit www.educatormortgage.com.

La Tela: New permanently affordable for sale condos in the heart of the Santa Fe Arts District. 92 homes. A mix of studio, 2 and 3 bedroom condominium homes, all attainably priced under $200,000 (qualifications apply). Move in ready fall 2020. Visit infolatela.com for more information.

Teacher Next Door: Teacher Next Door is a free service for educators and many other public service professionals, designed to increase home ownership, support community development and increase access to affordable housing free from discrimination. Your Teacher Next Door agent will help you apply for grants and down payment assistance programs, locate the right home, and negotiate the lowest price possible. Your agent will handle all of the purchase, financing and closing paperwork for you. Visit their website for more information: http://www.teachernextdoor.us/

Denver’s Inclusionary Housing Ordinance requires 10% affordability in new, for-sale developments of 30 or more units. Requirements for income, credit, criminal history, etc. are used to determine eligibility to rent a unit and vary by property manager. This may depend on the funding sources that were used to develop the property or it may be at the discretion of the property owner. To see available housing (or place yourself on a waitlist), visit http://www.coloradohousingsearch.com/ Please note: interested buyers are required to take a homeownership counseling course and will need to obtain private financing to purchase the affordable unit. 

Tip: search by the zip code you are interested in, sort by availability.

Oakwood Home Buyer’s Club is a free, no-obligation program that provides personalized and confidential resources to help you get into a new home. They will help answer all of your questions about the home buying process and review your financial situation while helping your reach your goal of obtaining a home. Call 303-486-8655 and ask to be connected to Oakwood’s Dream Makers. Learn more at www.oakwoodhomeclub.com. 

American Dream Program for Hometown Heroes at Oakwood Homes is a special program from Oakwood Homes and offers additional services for any individual working in a public education system, first responders, and the military. Specific packages can include washers and dryers, window coverings, or appliances like refrigerators. Call 303-486-8915 or visit www.oakwoodamericandream.com for more information.

Good Neighbor Next Door (HUD) offers federally owned single family homes to full time preK-12 educators at a 50% discount. These are foreclosed homes sold as is and it is highly recommended that you get an inspection before you commit to purchase. While there are sometimes no home available, listing are updated daily and stay posted for 7 days. To see listing, visit www.hudhomestore.com/home/index.aspx. 

• To apply: have a realtor complete the application process for you and notify you if your bid is accepted. 
• Requirements: you must purchase the property as your primary residence and live in the home for at least 36 months; the public or private school where you are employed as a teacher must serve students from the area where the home you are purchasing is located.

Heroes Home Advantage: you can receive 25% of your realtor’s commission in addition to discounted attorney and inspection fees. Connect to local realtors, lending institutions, and caring network members to achieve your goals and assist you from start to finish in all your real estate needs. Visit www.heroeshomeadvantage.com/about-hha 

Homes for Heroes: On average, participants in this program save $2,400 with discounts on home purchase prices, lender fees, title service, and home inspection discounts. Learn more at www.homesforheroes.com/our-story/faq.  

Everyday Hero Housing Assistance Fund provides a closing cost gift that helps cover closing costs. Visit www.usehhaf.org. 

Equity for Educations introduces you to the many first time home buyer programs that minimizes upfront costs and help you find lenders who provide them. For teachers and school employees, Equity for Educators will grant up to $1,200 to help pay for closing costs. For more information, visit www.equityforeducators.com.

DPS offers an extensive Employee Assistance Program (EAP) that includes legal assistance and financial guidance. Visit thecommons.dpsk12.org/eap to learn more about this free benefit.