Proposition 123 - Affordable Homeownership Program (AHOP)
The Proposition 123 - Affordable Homeownership Program (AHOP) by the Colorado Division of Housing funds research-driven initiatives to expand affordable homeownership through construction, rehabilitation, and down payment assistance.
Funder: Colorado Division of Housing
Due Dates: Rolling (varies by program; check program page for updates)
Funding Amounts: Loan amounts up to 20% of home cost (DPA); up to 110% loan-to-value (DPA + Repair); operational funds not to exceed 10% of total agreement
Summary: Supports affordable homeownership in Colorado through down payment assistance, mobile home, construction, and rehabilitation programs for eligible entities.
Key Information: Applicants must be community partners, nonprofits, or local/tribal governments; individuals cannot apply directly.
Description
The Proposition 123 - Affordable Homeownership Program (AHOP) is administered by the Colorado Division of Housing and aims to expand access to affordable homeownership opportunities across the state. The program supports a range of activities, including down payment assistance (DPA), mobile home programs, new construction/acquisition, and rehabilitation of single-family, owner-occupied homes. Funding is provided through the Colorado State Affordable Housing Fund and is designed to empower community partners, nonprofit developers, local governments (including housing authorities and tribal governments), and resident-owned communities to address local housing needs and foster stable, long-term homeownership.
