HomesFund Shared Appreciation Loan: down payment help in Durango and southwest Colorado

Fact sheet

How the HomesFund loan works

HomesFund, a Durango nonprofit, lends based on your income and county, so the amount ranges widely. You make no monthly payments for the life of the loan. It comes due in 30 years, or earlier if you sell, transfer the home, do a cash-out refinance or move out, and you repay the principal plus a pro-rata share of appreciation. If the loan was a fifth of the price, a fifth of the gain goes back to HomesFund.

Who qualifies?

Buyers must be income-qualified for their county and household size. HomesFund posts 2026 limits on its own site; we did not capture them, so check there. Every applicant completes a HomesFund homebuyer class, a full application, a budget review and a counseling session. HomesFund's page does not state a first-time buyer rule or a price cap.

HomesFund with state and employer programs

Fort Lewis College staff can stack HomesFund help with the FLC employee program, up to $125,000 combined for lower-income employees. Durango School District 9-R staff and La Plata County deputies or firefighters should also price CHFA Schools To Home or Colorado Champions; since Schools To Home accepts only an outside grant, a HomesFund loan likely cannot sit behind it, and a participating lender confirms combinations with Champions.

Example: a $60,000 HomesFund loan on a $400,000 home is 15% of the price. If the home sells years later for $480,000, the $80,000 gain means a $12,000 share in addition to the $60,000 principal. Because the amount depends on income, two buyers purchasing the same home could qualify for very different help, so apply before you settle on a budget.

The required class, budget review and counseling session take time, so start them before you begin touring homes. Buyers in Bayfield and Ignacio follow the same process as Durango buyers.

Steps to apply

1. Check HomesFund's 2026 income limits for your county.
2. Take the HomesFund homebuyer class.
3. Submit the application and complete the budget review.
4. Meet with a counselor, then coordinate with your lender.

See the La Plata County page, our assistance types guide, and check eligibility.

County guides for this program: La Plata County.

Questions about HomesFund Shared Appreciation Loan

Similar programs

• CHFA HomeAccess / HomeAccess Plus
• CHFA SectionEight Homeownership / SectionEight Homeownership Plus
• CHFA Preferred Very Low Income (VLIP)
• Colorado HFA1 / Colorado HFA1 Plus
• Colorado Roots Down Payment Assistance Fund
• Dearfield Fund Purchase Program

Summarized from the program's official page, November 2026. Money and rules shift; check today's terms with the administrator or a participating lender. Colorado Down Payment Assistance has no tie to this program.