Colorado educators can get homebuying help through new state program
Colorado teachers and other public school employees can now get help with down payments and closing costs through a new state program aimed at making homeownership more attainable. The Schools to Home program launched July 1 to provide…
On July 1, Colorado launched a new program called Schools to Home, providing assistance to public school educators and employees who are first-time homebuyers. As of now, 85 individuals have utilized the program, which is estimated to help around 125 homes, with an average assistance amount of $80,000 per property.
This initiative stems from a 2025 state law and aims to address teacher shortages, boost retention, and enable more educators to reside in the communities they serve. Many Colorado districts already offer housing support for employees, typically through rent subsidies or options like affordable tiny homes.
In July, the state's median home price stood at $550,000, as reported by the Colorado Association of Realtors. The Colorado Department of Treasury contributed $10 million from the state's Public School Permanent Fund to kickstart the Schools to Home program, with further investments planned.
Eligible participants must work full time in various school settings, complete a homebuyer education course, and meet specific credit score requirements and income limits. The program allows public school employees to receive up to 25% of their first mortgage loan as assistance. In return, participants must repay the aid upon selling the home and contribute to the state's share of the appreciation in the property's value.
If the home's value declines or remains unchanged, repayment is limited to the initial downpayment received.
For more information, potential participants can visit the Schools to Home website.
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