Frequently Asked Questions - Community Development
Community Housing Program
Q: To participate in the City of Lafayette Community Housing Program, do I have to be a first-time homebuyer?A: No, but your household must not exceed income limitations based on household size if you want to purchase a Permanently Affordable home.
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Q: Do I have to be a resident of Lafayette before I purchase a Unit?A: No. However, Lafayette employees, residents, and graduates have priority the first 30 days a property is marketed. (See Preference Benefit).
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Q: Do I need to take a homebuyer class?A: Yes. Classes are free and are held regularly in the Lafayette area and other Denver metro communities. See Free Homeownership Courses.
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Q: What restrictions does the property have when it is sold?A: If you purchase a Permanently Affordable home, the property is permanently deed restricted that ensures the unit will be sold to a household whose income does not exceed the maximum household income for the program the year the house is sold.
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