Curtis Park Residences is a deed-restricted community. Prospective buyers must income-qualify and meet certain criteria set forth by the City and County of Denver, Denver Office of Economic Development.
Maximum Annual Household Income (gross income – before taxes)
DEFINITION OF INCOME
- Include income from all household members over 18 years of age
- Include all sources of income, including:
- Earnings and overtime pay
- Unemployment compensation
- Workers’ compensation
- Social Security or Supplemental Security Income (SSI)
- Public assistance
- Veterans payments, survivor benefits, and disability benefits
- Pension or retirement income, interest, and dividends
- Rents, royalties, estates, and trusts
- Educational assistance
- Alimony and child support
- Financial assistance received from outside of the household
1. Do I have to be a first-time homebuyer, or could I have owned a home before?
No, you don’t have to be a first-time homebuyer. You may have owned a home before. But your affordable home will be your primary residence and occupied by you. Once you close on your affordable home, your name cannot be on title for a previously purchased home.
2. Is my household income recalculated after I move into an affordable home?
No. Once you are income-qualified with the City, they do not start the income process again if your household size increases/decreases, or if your income changes.
3. Can I sell the home for any amount I wish?
No. The City has a resale formula indicating the maximum resale price. Your maximum resale price will be calculated by the City before putting your property on the market.
4. Is there a minimum amount I need to earn to be able to purchase an affordable home?
Yes. Our approved list of lenders will clarify that amount with you during preliminary loan approval.
5. How long is my income approval from the City valid?
Your income approval from the City will be valid for one (1) year.