Fort Collins, CO, September 28^th, 2009 - Funding Partners, a non-profit financial institution is pleased to recognize the Colorado Association of Realtors, Housing Opportunity Fund (CARHOF) for its generous support of affordable housing needs in Colorado.  

 

 

The CARHOF Statewide board has awarded Funding Partners $9,000 in addition to the $5,000 awarded by the Fort Collins Board of Realtors, to help offset overhead expenses attributed to the House to Home Ownership (H2O) Down Payment Assistance Program®. 

 

“One of CARHOF’s goals is to help first-time homebuyers with more modest means achieve the dream of home ownership, and the H2O program offered by Funding Partners has helped thousands of families achieve their dreams,” according to Julie Bramer, CAR Foundations Director.

 

H2O is a revolving loan fund providing first time home buyers with down payment and closing cost assistance up to 5% of the home purchase price.  This allows many low to moderate income households to afford the American dream of homeownership.  Since 1999, the H2O program has issued 1,131 loans statewide to households earning less than 80% of the Area Median Income; approximately equivalent to earning $18 per hour, or less.  This represents over $8.5 million in loan production for the program. 

 

CARHOF allocations have been instrumental in the success of the H2O program in local jurisdictions and across the state. The Fort Collins Board of Realtors has supported Funding Partners’ efforts specifically in Larimer County, which enabled the H2O program to provide down payment assistance loans to 132 households representing $862,918 in loan volume since 1999.

 

“Real estate professionals are unsung heroes in communities across Colorado,” according to Funding Partners Executive Director, Joe Rowan.  “Realtors don’t receive the level of credit they often deserve for generous support of community organizations, economic vitality and a strong education system.  Simply put, Realtors help make Colorado home and Funding Partners is proud of this continued relationship!”