HOUSING OPPORTUNITY FUND
Housing Opportunity Fund
Initiated by the Trust for Community Housing in 2019, and funded through the generosity of many Telluride Foundation donors, organizations, municipalities and private foundations, the Foundation’s Housing Opportunity Fund (HOF) provides forgivable loans to assist qualified buyers with home acquisition costs and grants to assist renters with the upfront costs of moving into rental housing. These loans and grants are intended to provide renters and buyers with the financial support they need to acquire housing: down payment assistance or closing costs for buyers and first/last month rent or security deposit for renters.
Individuals and families who meet the income and net assets limits of the program (detailed below) are welcome to apply by completing the appropriate application. In addition to falling within these income and net asset limits, additional qualifications are required and are detailed in each application.
- Have a household income at or below the following income limits (150% Area Median Income).
- One Person:$100,555
- Two People: $ 114,750
- Three People: $129,140
- Four People: $143,400
- Five + People: $154,950
- Have household net assets valued at, or below the following limits:
- One Person: $131,500
- Two People: $187,500
For more information on the HOF or the Telluride Foundation’s Community Housing Initiative contact Elaine Demas at firstname.lastname@example.org.
*Requirements and Guidelines for applying for and receiving funds from the Foundation’s HOF may change periodically based on community demand and resources available.