MOUNTAIN VILLAGES'
YOUR EQUITY SUPPORT

GUIDELINES & GENERAL INFORMATION

If you are seeking down payment assistance to purchase a free market home, the Mountain Villages’ Your Equity Support  ‘YES’ program might be right for you. Presently only available for properties located in the town of Mountain Village, the YES program will soon be expanded to include homes in the R1 (Telluride) and R2 (Norwood) School Districts. The YES program provides financial assistance designed to incentivize home owners and buyers to deed restrict their property to help promote affordability and expand the permanent pool of housing for qualifying members of the regional workforce. Applicants must need to work in the R1 School District to qualify for the YES program but the home they own (or are purchasing) can be located in either the R1 or R2 School Districts.

The YES Program, is a deed-restriction purchase program whereby the town of Mountain Village will pay homeowners and homebuyers a portion of a home’s value (15-18% of the value/purchase price, not to exceed $200,000) in exchange for placing a deed restriction on the property. This would require that the home be occupied by someone working 1,560 hours or more per year within the R-1 School District. Unlike the Telluride Foundation’s down payment assistance programs, there are no income or net asset limits on the Applicant and the Applicant may own other real estate.

This financial assistance is not a loan and does not need to be paid back. Once your home is deed restricted, occupancy rules apply and when you sell your home, you my only sell it to a buyer who qualifies to purchase your deed restricted home. Price Appreciation caps will also apply to future sales.

Application Process:  Please complete the Telluride Foundation’s Housing Assistance Pre-Qualification form and we will contact you to discuss your qualifications to help determine if the YES program is right for you. This form can be found HERE