Fact sheet
Summit Combined Housing Authority Down Payment Assistance
WaitlistSummit County
- Buyers
- Households with someone working 30+ hrs/week year-round in and in service to Summit County
- Amount
- Up to $40,000
- Form
- Loan with monthly payments
- Income cap
- Up to 160% AMI
- Conditions
- Must be under contract on a Summit County property; covers less than 30% of financing on a 2:1 ratio; about 4 weeks to process
2% interest, up to 20 years. SCHA says the Summit Revolving Loan Fund is fully utilized and on waitlist status.
Checked November 2026 · method
Check my eligibility →Current status: waitlist
The Summit Combined Housing Authority says its Summit Revolving Loan Fund is fully used and on waitlist status. Because it is a revolving fund, new loans open up as earlier borrowers repay. Joining the waitlist now positions you for the next round; plan other financing in the meantime.
How the loan works
The loan is up to $40,000 at 2% interest with a term of up to 20 years, repaid in monthly installments. It must cover less than 30% of your financing, on a 2:1 ratio with the first mortgage. Processing takes about four weeks, and you must already be under contract on a Summit County property.
Who qualifies?
At least one household member must work 30 or more hours a week, year-round, in and in service to Summit County. Income can reach 160% of AMI, a high cap that reflects mountain housing costs. A first-time buyer rule is not stated.
To see the 2:1 rule at work: on a purchase financed with a $400,000 first mortgage, the SCHA loan is still limited to $40,000, and it must make up less than 30% of the financing. At 2% over 20 years, a $40,000 balance would cost roughly $202 a month. Buyers should make sure their debt ratios work with that payment added.
Because processing takes about four weeks and requires a signed contract, build that time into your closing date if a loan opens up while you are shopping.
Options while you wait
Summit School District staff may qualify for CHFA Schools To Home, and sheriff's deputies, firefighters and EMTs for Colorado Champions, neither of which has a waitlist. Schools To Home only accepts an outside grant on top, so the SCHA loan is unlikely to pair with it; a participating lender confirms combinations with Champions or other CHFA loans. Summit is also on the Colorado Roots list. The Town of Dillon runs its own employer program for its staff.
To get on the list, contact SCHA, confirm your work hours qualify, and talk with a lender about a first mortgage that can work with or without SCHA. See the Summit County page, our DPA mistakes guide on timing, and check eligibility.
County guides for this program: Summit County.
Questions about Summit Combined Housing Authority Down Payment Assistance
Is Summit County's down payment fund open?
It is on waitlist status because the revolving loan fund is fully used.
How much can SCHA lend?
Up to $40,000 at 2% for up to 20 years.
Who qualifies?
Households with someone working 30+ hours a week year-round in and in service to Summit County, with income up to 160% AMI.
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.
Check this program and the state option together
A lender who offers Colorado programs can compare both against your file. No credit check.
Start the eligibility check