Did you know that 76% of PIE participants are saving for homeownership right now? Yes, it's possible to buy your first home in today's market! You may need to be more creative than in the past, but we continue to see families and individuals moving in to their new homes and sharing their stories with our community.
Here are some tips and local resources that may be very helpful to you if you are on the homeownership journey:
1. Consider pairing the PIE program with a city, county or state program that is available where you would like to buy. Refer to the list of options from the CHFA homeownership class and/or choose from the options in the resources section below. This may require submitting additional paperwork, but it may provide an additional $9,000 grant for your first home. A homeownership counselor can assist you in reviewing these options.
2. If you are to pair a down payment assistance program with PIE, when shopping for a loan, confirm that the lender is able to work with the selected down payment program. Some down payment programs work with specific lenders.
3. Make sure that the lender is aware of the home payment that will work for you and your budget. Feel free to meet with a financial housing counselor to review these details.
4. Take 40 minutes and listen to the homeownership podcast by America Saves.
5. Always reach out to the PIE program if you have questions.
Resources:
- Steps to Homeownership: Download America-saves-homeowner-checklist Download MDPA-10-Steps-to-Homeownership
- Buying your first home America Saves Podcast
- Local down payment programs: Download Home Purchase Resources Boulder County
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From Elevation Community Land Trust: Download Doors to Opportunity Download Property Criteria for Doors Download Down-Payment-Assistance-by County
Comparison programs Doors to Opportunity, FirstBank PATH Program, Metro DPA Social Equity Program: Download Doors Social Equity Program Comps (1) (1)
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MetroDPA program: Download MetroDPA_DPA_Flyer_0621 Download MDPA - What Is It
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FirstMid Bank: MidFirst Home Loan Grant Program Download MidFirst Home Loan Grant Program
- Personal Finance Program: Scroll down to Option 2: Link for Homeownership Financial Counseling
ABOUT THE PERSONAL INVESTMENT ENTERPRISE (PIE) PROGRAM
The Personal Investment Enterprise (PIE) program is a local savings program provided through Community Action Programs of Boulder County and Mile High United Way. The program is designed for low-income families to enroll in financial literacy classes and save through a matched saving account at a rate of 4 to 1. The first step in applying to the program is to attend an orientation meeting with Community Action Programs at Boulder County. They can be reached at 303-441-3998 or at [email protected]. For more information on the PIE program visit https://www.bouldercounty.org/families/community-action-programs/personal-investment-enterprise/ or https://unitedwaydenver.org/personal-investment-enterprise-pie-program/. To see if you qualify, take this survey: https://www.surveymonkey.com/r/PrelimPIE.
