Funding Partners Awarded Operational Support from CARHOF
Release Date:October 26th, 2010
Fort Collins, CO, October 26, 2010 - Funding Partners, a non-profit financial
institution is pleased to recognize the Colorado Association of Realtors, Housing
Opportunity Fund (CARHOF) for its generous support of affordable housing needs
in Colorado.��
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The CARHOF Statewide board has awarded Funding Partners $4,500 in addition to
the $1,048.20 awarded by the Vail Board of REALTORS, to help offset overhead expenses
attributed to the Employee Home Ownership Program (EHOP)�.
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�The Vail Board of Realtors is pleased to support Funding Partners work which
assists many first time homebuyers here in the Vail Valley, thru its administration
of the Eagle County Down Payment Assistance Fund,� according to Matt Fitzgerald
of the Vail Board of REALTORS.�
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Funding Partners EHOP program provides down payment and closing cost assistance
to employees of the participating organization allowing for a more affordable
monthly payment on a property within relative distance to work.� The EHOP program
and has been remarkably successful, not only along the Front Range, but in resort
communities where homes are priced beyond the means of the local workforce. Employees
are typically subject to long commutes, small living quarters and heavy competition
from part-time residents for housing. EHOP fills a significant need in those markets
where resources are very limited and among local area workforce is priced out
of the housing market.� Through EHOP, households are eligible to receive the necessary
funds from their employer to acquire their home without the additional burden
of monthly payments.
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EHOP has originated 102 down payment and closing cost assistance loans representing
$2,406,086 in financing.� To date, EHOP has a 0% loss rate with 14.7% of loans
repaid.� EHOP has served over 200 individuals and currently has 13 participating
employers across the state.
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�Real estate professionals are unsung heroes in communities across Colorado,�
according to Funding Partners Executive Director, Joe Rowan.� �Although Realtors
don�t typically receive the recognition they deserve, collectively and individually
real estate professionals are often the first to respond to need within the community,
contributing time, expertise and money to a variety of important issues.� The
Colorado Association of Realtors exemplifies a long-term commitment and community
leadership necessary to make Colorado home.���� ���
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Contact Information:
Megan Gifford
Funding Partners for Housing Solutions
214 S. College Ave, Second Floor
Fort Collins, Colorado 80524
Megan Gifford
Funding Partners for Housing Solutions
214 S. College Ave, Second Floor
Fort Collins, Colorado 80524