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Home Buyers
Here is a clear chart showing HUD income limits for Teller County, CO (FY 2025) at 50% AMI and 80% AMI for households of 1 to 4 people — along with their corresponding affordable housing limits (30% of monthly income): Same for CHFA Income limits for 2 or 4 people.
Teller County, CO – HUD AMI Income Limits (2025)
| Country | AMI | 1 PERSON | 2 PERSON | 3 PERSON | 4 PERSON | 5 PERSON | 6 PERSON |
|---|---|---|---|---|---|---|---|
| TELLER | **100%** | $72,100 | $82,400 | $92,700 | $103,000 | $111,300 | $119,400 |
| Cap on Wages | 30% of Wages | $1,802.50 | $2,060.00 | $2,317.50 | $2,575.00 | $2,782.50 | $2,985.00 |
| Int 6.875% | PITI - Home & est. | $1,809.96 | $2,055.88 | $2,257.96 | $2,376.00 | $2,376.00 | $2,376.00 |
| Appraised 2024 | 386,000.00 | Capped Sale Price / DOH | 366,700.00 | 95% of median purchase price | |||
| Sale Price | Doesn’t Qualify | $350,000.00 | $350,000.00 | $366,700.00 | $366,700.00 | $366,700.00 | |
| Gifted Land Cost | $13,732.00 | $13,732.00 | $13,732.00 | $13,732.00 | $13,732.00 | $13,732.00 | |
| DPA | $50,000.00 | $50,000.00 | $30,000.00 | $30,000.00 | $30,000.00 | $30,000.00 | |
| $241,268.00 | $286,268.00 | $306,268.00 | $322,968.00 | $322,968.00 | $322,968.00 | ||
| 43% of Wages | $2,583.58 | $2,952.67 | $3,321.75 | $3,690.83 | $3,988.25 | $4,278.50 | |
| Allowable Debt | $781.08 | $892.67 | $1,004.25 | $1,115.83 | $1,205.75 | $1,293.50 | |
Disclaimer:
This is only an example of how funding could work and not a commitment of any kind.
Variables are: # of people in the home, interest rates, DPA cash available, and actual gross income and debt.
Market rate could change and Income Limits change annually.
How 30% Calculation Works:
HUD defines affordable housing as costing no more than
30% of a household’s gross income.
Example for 2-Person Household:
At 50% AMI: $41,200 annual income ÷ 12 months = $3,433/month 30% × $3,433 = $1,030/month
Depending on the Funding Source these Numbers change slightly
Teller County Deed‑Restricted
Affordable Housing
A compelling reason for a buyer to want a deed-restricted home, particularly one associated with Elevation Community Land Trust (ECLT),
is the opportunity to achieve permanently affordable homeownership that might otherwise be out of reach.
Here's why this model is compelling for buyers:
Reduced Initial Purchase Price:
In the ECLT model, the homeowner owns the house and other improvements, but the land beneath the home is owned by ECLT and leased to the homeowner. This separation of land and home ownership significantly reduces the initial purchase price for the homebuyer, making homeownership accessible to low- and moderate-income individuals.
Financial Assistance and Lower Monthly Costs:
ECLT offers programs like the Housing Assistance Program (HAP) and Doors to Opportunity, which provide down payment assistance that can be used for principal reduction, closing costs, or permanent interest rate buydowns, further lowering the financial barrier to entry and potentially reducing monthly housing payments.
The monthly Lease Fee paid for the land use is determined to be affordable for the homeowner, and ECLT may even reduce or suspend this fee to improve affordability of monthly housing costs.
For ECLT homes, the HAP investment is considered an investment in the property, not a traditional loan, and the subsidy stays with the home at resale, revolving to the new qualified buyer. This means the initial buyer benefits from the subsidy directly reducing their purchase cost.
Long-Term Affordability Preservation:
The land lease includes resale restrictions designed to preserve the home's affordability for future income-qualified households. While this means the homeowner's appreciation is limited (e.g., to 25% of the increase in appraised leasehold value under the formula price), it ensures that the home remains a part of a pool of affordable housing, fulfilling ECLT's charitable mission and ensuring the availability of such opportunities for others in the long term. This shared goal is explicitly recognized and accepted by the homeowner when entering the lease.
Support and Guidance Through the Process:
ECLT provides a structured application process, including mandatory orientation sessions to explain the unique nature of a land lease transaction, homebuyer training, and support in obtaining mortgage financing from approved lenders. Buyers also receive a detailed, independent pro-bono attorney review of the Land Lease prior to closing.
Support and Guidance Through the Process:
By participating in ECLT's programs, homebuyers become part of a system designed to create stable and permanently affordable homeownership opportunities for low-to-moderate-income residents, contributing to a broader community goal.
Learn how to ask the
Right Questions :
2025 Affordable chart for CHFA
What loan options are there with CHFA?
CHFA is not the only source so contact us for more options.
How does DPA Down Payment Assistance Work?
Pre-application Questionnaire - See if you qualify
This short questionnaire helps determine your eligibility before you submit a full application. Answer a few simple questions to see if you meet the basic requirements and save time by avoiding unnecessary paperwork.