To qualify for assistance, homeowners must be considered low- to moderate-income, which is at or below 80% of the average monthly income as defined by the U.S. Department of Housing and Urban Development (HUD); see the Program Income Limits Chart to learn more.
The City of Pueblo will determine eligibility based on the following requirements.
Any and all loans and/or mortgages secured by the property must be current.
Household makeup must meet the definition of a family unit. Family unit means 1 or more persons related either by blood, adoption, marriage, or familial status that are occupying an eligible dwelling unit at he time of application.
The applicant must be the owner of the property for the past 2 years.
The applicant must meet the national objective of benefit to low- and moderate-income person as described in 24 CFR 570.208(a)(3).
The current assessed property value cannot exceed 50% of the FHA 203(b) mortgage limit for Pueblo, CO set annually by HUD. Currently the FHA 203(b) limit is $200,160.
The property must be the applicant’s primary residence.
The property taxes must be paid and the property must be free from all tax liens.