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In 2001, a partnership of real estate associations created the HOPE (Home Ownership Participation for Everyone) Awards,
Today more American families own their own homes than ever in history, but not all Americans participate equally in homeownership.
Only about half of minority households enjoy the benefits of home ownership. The HOPE Awards showcase the bery best
of projects and programs that increase minority homeownership, revitalize communities, expand affordable housing opportunities
and that encourage more real estate professionals to seek innovative ways to serve the minority community.
In 2007 Colorado Housing Assistance was awarded the Finance Award. This award recognizes organizations or programs
that have helped minorities overcome barriers to finance the purchase of a home. Criteria include impact, innovation,
minority focus and acceptance by minority communities. Special consideration is given to programs that address barriers
related to affordable housing.
Colorado Housing Assistance Corp. offers loan programs and supportive financial counseling to help Colorado Families
turn homeownership dreams into reality. Its unique program is different than that of any other program in the country.
More than 10 years , CHAC received a planning grant from the U.S. Department of Housing and Urban Development to create a
coalition of organizations that help people with 100 percent permanent disabilities achieve homeownership. Since then,
CHAC has helped more than 325 participants fulfill their homeownership dreams. Potential homeowners served by CHAC typically
earn less than 60 percent of the area median income, Under the CHAC program, borrowers are provided 3 percent, , fixed-interest
30 year loans and $19,500 in down payment assistance that they do not have to pay back unless they sell, refinance or rent
the property. CHAC has stabilized people's lives, created a sense of community and belonging, and helped home buyers
on very limited incomes live the American Dream.
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