No, preference benefits do not apply to this sale since it is a resale.
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Yes. The City of Lafayette is a home-rule municipality and has its own set of city ordinances (laws) and its' own application and review process.
To apply, please complete this application. Please ensure your application is complete along with all supporting materials (tax returns, W2s, bank statements, etc.).
Applications are accepted by:
No, please do not provide originals as they will not be returned.
The review can take up to two weeks or more, and applications are reviewed in the order received.
Once reviewed, the City will send you a “qualification letter.” That letter will have to go with your offer to the listing agent.
Income limits are set by the U.S. Department of Housing and Urban Development (HUD) and can be found on the Boulder Housings website.
Download the Community Housing Guidelines.
Yes, the home is part of the City’s permanently affordable housing stock, so it will remain permanently affordable.
The home value will increase each year by the lesser of the Consumer Price Index for wage earners (CPI-W) or 3% per year, calculated as simple interest. For example, if you owned the home for 10 years and the home value increased by 3% per year, the value would be the home price you purchased it for plus 30% (3% x 10 years). Keep in mind, it may increase by less than 3% if the CPI is less than 3%.
No, the city will contact you once your application has been reviewed.
You will receive a letter stating your application is incomplete and will not receive a qualification letter. You may re-apply at any time, but please make sure your application and supporting materials are complete.
You will receive a letter stating you did not qualify and why.
You will be placed on the City's list of qualified home buyers. Lafayette keeps affordable housing applications for six months, then you would need to reapply. If another home comes on the market during the six month period, you will be notified.
Contact the Program Administrator by emailing firstname.lastname@example.org.