Home Buying Process
Workforce housing is now available for purchase for qualified candidates in South Fork, Colorado. Through a coordinated effort between Sawmill Meadow Development, the Town of South Fork, and the State of Colorado Dept. of Local Affairs, the combined partnership has leveraged a combination of private and grant money to construct Phase 1 of a two-phase workforce housing development designed and built to bring the possibility of homeownership to workers in the San Luis Valley to reality with a goal of offering ongoing, affordable housing to those who work here. Applications for priority consideration to purchase one of the homes is open until June 22. Applications will remain open until all homes are sold.
o Works in the San Luis Valley
o Meets income and asset limitations as established by Colorado Housing and Finance Administration (Income and asset limitations for this project are established at 100% average median income level.) This is established through the qualification process.
o Is eligible for additional opportunities to receive at least $19,000 in low interest down payment assistance if qualified and if desired.
South Fork Office
(719) 873-5050
suzy@teammurphyrealty.com
o Download and complete the DOWNPAYMENT ASSISTANCE/UNIFORM LOAN APPLICATION HERE.
o Submit the application to the San Luis Valley Housing Coalition who is responsible for qualifying each applicant according to income and asset limitations for Rio Grande County. Upon qualification, you may also be eligible for downpayment assistance at a low interest rate that you are not obligated to accept. The team at the housing coalition is available to answer questions by phone.
o Apply for a mortgage loan. Home buyers may choose their own lender. Sawmill Meadow Development has worked closely with Guaranteed Rate in Alamosa, CO who is familiar with the specifics of this particular project. We are pleased to provide you with a contact name upon request. We are also happy to provide a list of other lenders who are willing to work with applicants for these homes to determine eligibility.
o Once approved for a loan, you are ready to make an offer on a home! Suzy Woodward and Dustin Hund with Team Murphy Realty are ready to work with each buyer in the contracting phase at no cost to the buyer.