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Home Ownership Assistance Program (HOAP)

HOAP Income Guidelines 

at the bottom of this page*Residential House
  • Would you like a better understanding of the purchase process?
  • Do you need assistance with the down payment and closing costs?
  • Are you in default on your mortgage loan?
  • Are you a senior homeowner looking for extra income from your home?

Aurora’s Home Ownership Assistance Program (HOAP) offers a variety of housing-related counseling services as well as educational seminars and financial assistance to help qualified, first-time homebuyers. Other programs include:  commercial and home rehabilitation, emergency repair, handicap accessibility, and various public facilities projects.

Since 1985, HOAP has been dedicated to making home ownership a reality for Aurora’s low and moderate-income families. As a HUD-approved counseling agency, the HOAP program offers free pre-purchase, foreclosure, pre-foreclosure sale, and reverse equity mortgage counseling, as well as financial assistance to homebuyers. The HOAP staff conducts educational seminars to first-time homebuyers (in English and Spanish), which covers the process of buying and owning a home.  It is mandatory to attend a HUD-approved homebuyer seminar prior to applying for financial down payment assistance.  HOAP staff also acts as a referral service for residents to other service providers within the community. 

HOAP Housing Counselors provide:

Homebuyer Education Seminars
Homebuyer Seminar Schedule
Go to: and click on “Homebuyer Education” for online courses available.

To apply for the Home Ownership Assistance Program, please call 303.739.7911 to schedule a virtual or phone appointment.  

HOAP Guidelines For Lenders

HOAP Guidelines For Realtors


Founded in 1984, the city of Aurora’s Home Ownership Assistance Program (HOAP) is dedicated to making affordable housing a realization for low- to moderate-income families in Aurora. This is a one-time assistance per family program.

    • To reserve HOAP funding buyer must present a fully signed contract along with a signed copy of the seller’s occupancy certification form. Aurora HOAP Seller Occupancy Certification & Preliminary Value Estimate form.pdf
    • Buyer must have verifiable savings equal to 2 months estimated PITI + HOA showing on 2 most recent consecutive bank statements. 
    • Buyer must have verifiable 2 year work history.
    • Buyer must provide 3 months bank statements at application with no insufficient funds charges evident.
    • Credit reports will be used to verify buyer’s debt obligations.
    • Debt to income ratios: 36% (PITIA) front and 50% back end will be enforced.
    • Monthly expenses will be considered for final decision to ensure sustained affordability.
    • All inspection conditions / repairs must be completed prior to loan closing - no FHA 203k loans accepted.


  • The program will follow the above underwriting criteria for all prospective home buyers in accordance with the 2013 HOME Final Rule. Program underwriting will include Debt Ratios, Monthly Budget, Seasoned Savings and Sustainable Income Sources.
  • Buyer meets HUD maximum income restrictions by household size: (This is defined as the number of people residing in the home including, but not limited to, all minor children, spouses, fiancés, roommates, relatives).  Updated as of June 15, 2022.  
  • 1....................$62,600   5....................$96,600
    2................... $71,550   6....................$103,750
    3....................$80,500   7....................$110,900
    4....................$89,400   8....................$118,050

  • Birth Certificates, Marriage Certificates, Guardianship papers, etc., must be provided if there is no proof of a dependent from the previous tax return.  Proof of legal status in U.S. is required for all household members.     
  • Buyer needs to qualify for the first mortgage according to the financial institutions guidelines. Purchase price limit currently $382,000.
  • Household income must be under 80% of median income (as shown above). The city of Aurora projects out income for a 12 month period based on both pay stubs and VOE’s. We will project the income based on future raises if stated on the Verification of Employment. Please feel free to call us to go over specific situations.
  • Borrowers are allowed to have limited reserves ($15,000).
  • Buyer may not have owned a home within the past (3) years, as evidenced by providing copies of at least three (3) years tax return transcripts.


  • The borrower(s) is required to attend a one on one counseling session with housing counselor.
  • The borrower(s) is required to obtain a Homebuyer Education Certificate from one of the participating agencies found on the website. 
  • HOAP reserves the right to refuse any loan based on any reason management deems appropriate. Written notice of loan denial will be provided.


  • Property must be located within the city of Aurora.
  • Property must be a Single Family Residence, Condominium or Townhome.
  • A full written inspection report is required on all properties. We will review this inspection for all health and safety items. Proof of repairs is required (receipts, etc.) prior to closing. In other words, we are unable to accept inspection conditions at the closing table. Community Development will ensure a 5 year certification of major systems through checking the AMANDA building permit system for the subject property along with determination of the age of the furnace, water heater, plumbing, electrical and windows. If the major system cannot be certified as safe or is too old, Community Development will require replacement.
  • Market value/purchase price is set through the financial institution’s appraisal.
  • A lead hazard screen is required on all pre-1978 properties.
  • Because of HUD Regulations, (Handbook 1378, Tenant Assistance, Relocation and Real Property Acquisition Chapters 2 and 3), the City of Aurora Home Ownership Assistance Program cannot assist if the property is renter occupied. In other words, THE PROPERTY NEEDS TO BE OWNER OCCUPIED AT THE TIME THE CONTRACT IS WRITTEN. IF VACANT, SELLER MUST PROVIDE EVIDENCE THAT THE TENANT WAS NOT DISPLACED. HOAP CANNOT ASSIST IF THE PROPERTY IS CURRENTLY TENANT OCCUPIED.
  • The Voluntary Acquisition Letter must be signed and dated by all sellers at least 24 hours prior to closing. In other words, we are unable to accept the Acquisition letter at the closing table.

In accordance with HUD Regulations Handbook 1378, Chapter 5, Section 1, the City of Aurora must inform the seller that the City of Aurora will not use its power of eminent domain to acquire the property if negotiations fail to result in an amicable agreement. Prior to the closing of the sale, the city of Aurora will provide the seller with a written estimate of the fair market value of the property.


  • The program offers Financial Assistance for the minimum required down payment, depending on the loan program (a maximum of 5% for conventional loans), and all allowable closing costs under HOAP guidelines up to a maximum of $10,000. We do not pay for buy-downs or points. We will not reimburse nor advance appraisal or credit report fees. Please note that if borrower is able to put more than the minimum required down beyond allowable reserves, HOAP is unable to assist.
  • Buyer participation in down payment/closing costs will be required based on the total loan package and buyers ability to pay their contribution of 1% of the purchase price towards the transaction. HOAP will assist up to a maximum of 5% down payment. First lien minimum loan to value allowed is 95%.  No additional DPA assistance allowed without prior approval.   
  • The term of the second mortgage is thirty years, with simple interest of zero percent (0%). No monthly payments are required.
  • Principal is due and payable in full upon sale of the property, with cash out refinance, transfer of ownership, failure on the part of the borrower to maintain home as principal place of residence, or payment in full of the first mortgage.
  • There is no prepayment penalty. We also do not accept monthly or partial payments.
  • A document recording fee of $23 is charged, but there are no other discount points, origination fees or processing fees under this program.
  • In order to reserve funds, the borrower must have had a one on one counseling session as well as a fully executed contract.

***Program subject to funding availability and conditions are subject to change without notice.

It is unlawful to discriminate in housing based on Race, Color, National Origin, Religion, Sex, Familial Status or Handicap.


Under the Fair Housing Act, it is against the law to:

  • Refuse to rent or sell you housing
  • Tell you that housing is unavailable when in fact it is available
  • Show you apartments or homes only in certain neighborhoods
  • Set different terms, conditions, or privileges for property sale or rental
  • Provide different housing services or facilities
  • Advertise housing to preferred groups of people only
  • Refuse to provide you with information regarding mortgage loans, deny you a mortgage loan, or impose different terms or conditions on a mortgage loan
  • Deny you property insurance
  • Conduct property appraisals in a discriminatory manner
  • Refuse to make reasonable accommodations for persons with a disability if the accommodation may be necessary to afford such person a reasonable and equal opportunity to use and enjoy a dwelling
  • Fail to design and construct housing in an accessible manner
  • Harass, coerce, intimidate, or interfere with anyone exercising his / her fair housing rights

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