St. Vrain Schools To Home: Longmont & Erie DPA

Full-time St. Vrain Valley School District employees can buy a home in Longmont, Erie, Frederick, Firestone, Mead, Dacono, or Niwot with close to nothing down using CHFA Schools To Home — a 30-year fixed first mortgage paired with a deferred second mortgage worth up to 25% of that first mortgage, with no monthly payment on the second.

What Is the CHFA Schools To Home Program?

Schools To Home was created by 2025 Colorado legislation and is funded through the Public School Permanent Fund, administered by the Colorado Housing and Finance Authority (CHFA). St. Vrain Valley Schools serves a broad northern Colorado footprint spanning Boulder and Weld counties, and home prices across that footprint have climbed well ahead of what a district paycheck saves toward a down payment on its own. Schools To Home is built to close that specific gap for a paraprofessional, bus driver, custodian, or first-year teacher.

Which St. Vrain Valley School District Employers Count as Eligible?

Eligible employers include St. Vrain Valley School District campuses, district-authorized charter and institute charter programs, eligible BOCES serving Boulder and Weld county public schools, and innovation zone campuses. CHFA verifies each employer through the Colorado Department of Education's SchoolView database, and the employer has to carry a public designation there. Private and religious-school employees are not eligible.

Do I Have to Work in a Classroom to Qualify?

• Classroom and special education teachers
• Paraprofessionals and aides
• Counselors, psychologists, and nurses
• Front office and registrar staff
• Custodial and maintenance staff
• Nutrition services staff
• Bus drivers, mechanics, and dispatch
• Coaches and athletic staff
• Administrative, IT, HR, finance, and security staff

Job title does not matter. Full-time status with an eligible St. Vrain employer is what CHFA checks.

How Much Down Payment Assistance Can a St. Vrain Employee Get?

The assistance amount is up to 25% of the first mortgage, not the purchase price. Two loan limits shape the structure: a maximum 97% loan-to-value on the first mortgage, and a maximum 105% combined loan-to-value once the second mortgage is layered in.

A CHFA-participating lender should price both structures side by side. The PMI premium against the extra assistance runs differently depending on credit score and how long the buyer plans to stay in the home.

Is Schools To Home Free Money?

No. It is a second mortgage with a real repayment obligation, not a grant. What it changes is timing: it turns years of saving into a purchase this year, at a cost calculated up front and compared against the alternative.

What Is the Income Limit for Boulder and Weld County Applicants?

$178,920, statewide, regardless of county or household size. The income counted is the qualifying income the lender uses to credit-approve the loan, not a separate household calculation.

Is There a Maximum Purchase Price in the St. Vrain Valley?

No. Most Colorado down payment assistance programs cap the price of the home, which pushes buyers toward the oldest, least convenient housing stock. Schools To Home does not do that. If income and loan amount qualify, a St. Vrain employee can purchase in Longmont, Erie, Frederick, Firestone, Mead, Dacono, Niwot, or anywhere else in Colorado the numbers work.

What Is the Maximum Loan Amount?

The first mortgage is capped at the lesser of $832,750 or the applicable Fannie Mae conforming limit plus financed mortgage insurance, which sits well above what most St. Vrain households will be borrowing.

What Is Shared Appreciation, and How Is It Calculated for St. Vrain Buyers?

CHFA divides the assistance amount by the original purchase price to lock in a fixed shared appreciation percentage at closing. Appreciation itself is measured as sale price minus original purchase price — not down payment, not renovation spend, not agent commission.

Worked example: a full-time St. Vrain employee buys a home in Longmont for $600,000 using Structure A: $480,000 first mortgage, $120,000 in assistance, a locked 20% shared appreciation rate, and a minimum $1,000 contribution at closing. Seven years later, at roughly 3.8% annual appreciation — a reasonable Front Range assumption — the home sells for $780,000. Appreciation is $180,000; the shared appreciation payment is 20% of that, or $36,000; the total owed to CHFA is $156,000 ($120,000 assistance plus $36,000 appreciation share), against a remaining first-mortgage balance near $420,000.

What If My Home Loses Value After I Buy It?

Negative appreciation is treated as zero. The buyer still owes the assistance back in full, but never owes a share of a decline.

When Does the Second Mortgage Come Due?

Four triggers: selling, refinancing the first mortgage, paying it off, or the home no longer being the owner's primary residence. Move out and rent the house, and the whole balance accelerates — this program is not built for a rental portfolio.

Can I Refinance Later to Get a Better Rate?

Yes, but a refinance triggers repayment of both the assistance and the shared appreciation amount. Have a lender model the future CHFA payoff against the refinance before committing to a rate lock.

What Credit Score and Paperwork Does CHFA Require?

• Minimum middle credit score: 620
• Maximum DTI: 50% for scores of 620-659, 55% for 660 and above
• Manufactured homes: maximum 95% LTV / 105% CLTV
• Automated underwriting through Fannie Mae DU only
• CHFA-approved homebuyer education course, every borrower, valid 12 months
• Full appraisal required — a Property Inspection Waiver is not permitted

What If My Spouse Doesn't Work for St. Vrain Valley Schools?

That is not disqualifying. Only one borrower on the loan has to be the eligible school employee. A spouse or partner in any other line of work can still be a co-borrower, which lets many households qualify on combined income. Cosigners and non-occupying co-borrowers are not permitted, and a non-borrowing spouse cannot take title.

What Kind of Homes Qualify, Including ADUs?

• Single-family homes, attached or detached
• Townhomes and PUDs
• Condominiums
• Modular homes
• Manufactured homes on a permanent foundation, subject to Fannie Mae guidelines
• Homes with an existing ADU, subject to Fannie Mae requirements

The home must be owner-occupied as a primary residence, and a full appraisal is required.

Where Are St. Vrain Employees Actually Buying Homes?

• Longmont — the district's largest population center, with the widest mix of price points and housing stock, from older Old Town homes to newer subdivisions.
• Erie and Frederick — newer master-planned development along the US-287 and I-25 corridors, popular with buyers wanting new construction.
• Firestone, Mead, and Dacono — lower entry prices in Weld County, with a mix of newer builds and larger lots.
• Niwot — closer to Boulder, with higher price points and an unincorporated, lower-density feel.

Browse current inventory at Explore Erie, Explore Frederick, and Explore Dacono, or search every county at once at homes for sale in Colorado.

What Makes Buying Across Longmont, Erie, Frederick, and Firestone Different?

Boulder County and Weld County carry different mill levies and permitting processes, so a nearly identical home can land a different tax bill depending on which side of the county line it sits on. Many of the newer Erie, Frederick, and Firestone subdivisions carry metro district assessments and HOA dues on top of the base property tax, so price the full monthly payment rather than just principal and interest. Parts of the valley along the St. Vrain Creek and Left Hand Creek corridors sit in mapped flood zones; check FEMA flood status and flood insurance cost before writing an offer. Some unincorporated Weld County properties still rely on well and septic systems, which need a separate inspection. Because Schools To Home requires a full appraisal with no waiver option, build the offer timeline around that reality in competitive Longmont and Erie markets.

When Is Schools To Home the Wrong Move for a St. Vrain Employee?

• Moving within three years. A short hold does not build enough equity to comfortably absorb the payoff, and transaction costs add up regardless.
• Already holding 15% to 20% saved. A straight conventional loan with no shared appreciation is the cheaper path in most of those cases.
• Planning to keep the home as a rental. The primary-residence trigger ends that plan the moment the home stops being owner-occupied.
• Planning a major value-add renovation. The buyer shares appreciation on value created with their own money and labor.
• Buying at the top of the budget. Zero down means zero cushion for a furnace repair and a hail-claim deductible landing in the same year — a genuinely common northern Colorado sequence.
• Credit under 620. Not yet eligible; a focused six-month credit cleanup resolves this for most borrowers.

What Is the Step-by-Step Process to Use Schools To Home?

1. Confirm the employer carries a public designation in the CDE SchoolView database.
2. Get pre-approved with a CHFA-participating lender and start the required homebuyer education course early.
3. Compare Structure A and Structure B, and compare both against a straight conventional loan.
4. Search Longmont, Erie, Frederick, Firestone, Mead, Dacono, and Niwot inventory, and account for the required full appraisal in the offer timeline.
5. Close with the minimum borrower contribution, near $1,000 for most files.

Where Can a St. Vrain Employee Get Help Comparing Loan Structures?

Financing questions on Schools To Home, and on Boulder and Weld county mortgages of any kind, are a good fit for Mike Oswald at Rate (NMLS 261003, Equal Housing Lender). You are free to use any lender. Start at the Colorado home financing guide or check readiness first at Kenna Credit Care mortgage readiness. Ask for the printable Schools To Home closing-cost checklist in the form below and we email it the same day.

Where to go next

• Search every home for sale in Colorado
• CHFA Schools To Home Colorado: every district guide
• CHFA Schools To Home program: the complete guide
• Boulder Valley Schools To Home: DPA help
• Explore Erie
• First-time home buyer guide for Colorado

Talk to the Kenna Real Estate Group

The Kenna Real Estate Group works with St. Vrain Valley School District staff on Schools To Home purchases across Longmont, Erie, Frederick, Firestone, Mead, Dacono, and Niwot — comparing loan structures, checking flood zone and metro district exposure, and timing offers around the required appraisal. Call or text 303-955-4220. A live person answers. Not a robot, not a phone tree. Or start now and search every home for sale in Colorado.