First Southwest Bank • July 21, 2022
The ground has broken on Norwood, Colorado’s newest affordable housing development, Pinion Park! Rising interest rates have pushed home ownership out of reach for many Coloradoans. However, we have teamed up with Impact Development Fund (IDF) to offer down payment assistance and low-interest, fixed-rate mortgages for Pinion Park home buyers, giving them the opportunity to purchase homes that would be out of reach using traditional market rate mortgage products.
On the heels of a special visit by Colorado Governor Jared Polis to Norwood last Tuesday to see the Norwood Pinion Park affordable housing project, both final home prices and the lottery deadline have been announced.
The Pinon Park lottery opens on July 25th and the application deadline is noon, August 31st. The lottery will be conducted on September 16th. Potential buyers must include a mortgage pre-qualification from their mortgage lender to complete the lottery application. The San Miguel Regional Housing Authority will conduct the lottery process. Home buyer closing and move-in is targeted for early November.
For more information about this project, visit Rural Homes. For information on down payment assistance and mortgage products, click here.