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Greeley Colorado Home Ownership Program

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Greeley has announced a great new program to help residents buy a home. Greeley, Colorado has a seen a huge increase in the price of homes in the last few years. It is getting harder and harder to find homes and buy them because of the intense competition. The G-Hope program will make it easier for certain employees in Greeley to purchase a home with down payment assistance. The program is for employees of:

  • The City of Greeley
  • University of Northern Colorado
  • Weld School District 6
  • Banner Health/NCMC

This program is called G-HOPE, or Greeley Home Ownership Program for Employees.

G-HOPE Greeley Program Overview

The program is designed to help employees:

  • Purchase single family homes that they will occupy as their primary residence
  • Homes are eligible within certain areas near the University or Redevelopment District (see map in attached PDF)
  • Only one loan per employee household and lifetime

Down Payment Assistance Details for Greeley G-Hope Program

The G-Hope program will give you up to $6,000 to use toward a home purchase. This money is “loaned” to you at 0% interest rate, but if you maintain your eligible employment, that amount will be forgiven by 20% each year, until it is totally forgiven by year 5. This means that if you buy a home and stay employed with one of these employers for the next 5 years, you will not have to pay back any of that money! Even if you do not stay in the home for five years, or change jobs, this is a no interest loan until you sell the home.

This money can be used toward your down payment, closing costs, and items related to the primary loan (excluding buyer pre-paid items).

How to Get Started with G-HOPE

Check with your Human Resources department at work to ensure your eligibility. If eligible, gives us a call or email and we can help you get going!

Download the Full Details of the Greeley Home Ownership Program

Here is the 2015 brochure PDF: Greeley Home Ownership Program

Why is Down Payment Assistance Helpful When Buying a Home?

When you purchase a house you have to pay for the home and most people do not have cash. When you get a loan there are various costs associated with that loan like appraisals, origination fees, credit checks and much more. If you buy a $100,000 home and your down payment is 3.5 percent, you will actually be bringing much more than 3.5 percent cash to closing. The closing costs associated with the loan can add up to 3 percent or more of the loan which almost doubles the cash you need to buy the home.

You can ask the seller to pay part of your closing costs, but that takes money out of their pocket. In this competitive market it is best to make your offer as attractive as possible and if you can avoid asking for closing costs, it will help you get a house under contract. Down payment assistant like the G-HOPE program allow the buyer to have part of or all of their closing costs paid (or loaned) without affecting the seller’s bottom line.

Why is the G-HOPE program different than other down payment assistance programs?

Some down payment assistance programs give you a loan to pay part of your closing costs. However, some programs jack up the cost of the loan when using down payment assistance programs and those loans never go away. Although you are paying less cash when you buy the house, you are actually paying much more money in long run in the form of increased costs. I have seen some down payment programs add $10,000 to the loan amount when they were only saving the borrowers $3,500 in closing costs!

If you are using a down payment assistance program make sure you know the details.

  • Will the loan go away after a certain amount of time like the G-HOPE program?
  • Will you be charge interest on the down payment assistance and how much?
  • How much will the down payment assistance increase your loan amount compared to a loan with no down payment assistance?
  • If you sell the home in the next couple or years or sooner, what will be the penalties?


Down payment assistance programs like G-HOPE can be great programs for the right buyers. However not all down payment assistance programs are equal or even beneficial to some buyers. Make sure you use a real estate agent and a lender who know what they are doing and are working in your best interest!


Ready to talk to a Greeley Real Estate Agent?

We love to hear from you.

Call us at 970-573-6441 or

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