Anvil Townhomes Waitlist Application 2026

ACCEPTING APPLICATIONS BEGINNING JANUARY 5th 12:00am

Applications must be submitted according to the official Application Packet below. You must first complete the packet, then complete the online application. 

For application materials in Spanish, scroll to the bottom of the page. 

The Silverton Housing Authority believes everyone in our community deserves access to quality-built and thoughtfully designed homeownership opportunities. The Anvil Townhomes are 2- and 3- bedroom, energy efficient, climate hardy, quality finished homes, designed to make homeownership attainable in Silverton for years to come. 

The Anvil Townhomes is a mixed-income development designed to create homeownership opportunities for households that intend to use the home as their primary residence. The homes have restrictions on buyer income-levels and use and resale restrictions to protect the substantial public and private investment in the affordability of these homes.  

AMI stands for Area Median Income. Each year, the U.S. Department of Housing and Urban Development (HUD) calculates the area median income (AMI) for every geographic region in the country using data from the US Census-based American Community Survey. The area median income is the midpoint of a region's income distribution (100% AMI), meaning that half of the households in a region earn more than the median and half earn less than the median. A household's income is calculated by its gross income (total income received before taxes and other payroll deductions). 

Eligibility Requirements: 

• Applicant households' gross income (total income before any deductions) must be less than either 100% AMI, or 140% AMI to qualify for the homes.
• Applicant must get a mortgage pre-qualification letter for the sale-price of the home you are applying for or show alternative proof of funds for the sale price. 

• Applicant must demonstrate the anticipated monthly housing costs (primary mortgage payment, interest, insurance, taxes and HOA fees) are less than 35% of applicant's monthly income. 

• Applicant must have completed a HUD-certified homebuyer education course in the past 3 years. 

Use Restrictions:

• The owner must use the property as their primary residence and reside in the property 8 months of the year. 

• The home appreciates at a 1% annually compounded rate. 

• Short term rental is prohibited. 

The property is governed by Affordability Covenants, Program Guidelines, and an HOA. Applicants are encouraged to review these documents prior to applying and is included in the 2025 Application Packet below.  

See resources and FAQ's below to support your application process. 

1. STEP ONE: Determine Income Eligibility: Applicants may apply for a home under the following conditions:
   • Household gross income is below the unit’s Income Limit.
   • Can obtain a mortgage pre-approval for the sale price or demonstrate proof of funds.
   • Can demonstrate the monthly housing costs, including primary, interest, taxes, insurance, and HOA fees are less than 35% of the Applicant’s gross monthly income.
   • Has completed a HUD-approved homebuyer education course in the past three years immediately prior to the closing date of the application period.
2. STEP TWO: Review Program Requirements and Property Covenants
3. STEP THREE: Complete a HUD Certified Homebuyer Education Course. The SHA will accept certificates of completion of a Homebuyer Education Course dated within the past three years.
4. STEP FOUR: Gather necessary income-verification documentation. Using the Application Checklist, gather supporting documentation to upload in your online application form. Conveniently, your mortgage lender will need to see this information as well.
5. STEP FIVE: Obtain a mortgage pre-qualification letter or show proof of funds for the sale price of the home. When selecting a mortgage broker to work with, it is strongly recommended to work with someone who is familiar with and comfortable with lending for a home encumbered by affordability and use covenants. If you are paying cash for the property, proof of funds must be demonstrated. *YOUR MONTHLY HOUSING EXPENSES MUST NOT EXCEED 35% OF YOUR MONTHLY GROSS INCOME. For the purpose of this application, housing expenses include: the primary mortgage payment (Primary), Interest, Taxes, Insurance and HOA fees (together, commonly referred to as “PITI” costs). You must request your lender to include estimated taxes, insurance, and interest in your pre-approval letter, as this is not typically included in the standard pre-approval letter. Please refer to the Property Details section for HOA fees.
6. STEP SIX: Pay Application Fee. You can pay the application fee by calling or visiting the Town of Silverton (970-387-5522, 1360 Greene Street). You will need a receipt of this payment to upload when completing the online application.
7. STEP SEVEN: Complete necessary Application Forms. Refer to the Application Checklist to determine which forms apply to you. Necessary forms for all applicants are:
   • Waitlist Applicant Agreement
   • Authorization to Release Information
8. STEP EIGHT: Once you are ready, you may begin the online application form to formally submit your application. 

These properties are subject to use restrictions and requirements to ensure they are used as-intended, which is to provide affordable homeownership opportunities for years to come. Before applying, make sure the restrictions and limitations are in line with your homeownership goals. 

The Anvil Townhomes are subject to the Silverton Affordable Housing Guidelines. The program details are under the 300’s section of the Guidelines. In addition, there are Affordability Covenants and a Homeowners Association (HOA) that place restrictions on the property.

Application Contact: Anne Chase

For any questions or support, contact Anne at achase@silverton.co.us, or 970-880-0278.

How do I calculate my income?

• The SHA considers income from every household member over the age of 18 that will occupy the home.
• We look at gross income: all the money you earn before any taxes or deductions.
• Any money that your assets (bank accounts and investment accounts) earn annually. 

Using the information of the previous year's income, we calculate the anticipated income for the following year. If you will not continue a job you held this year, that income will not be included in next year’s anticipated income calculation.

Where can I take a HUD Certified Homebuyer Education Course?

When selecting a homebuyer education course, one thing to consider is whether you will use downpayment assistance or mortgage assistance. 

 

Recommendations for downpayment & mortgage assistance: 

HomesFund: HomesFund is a non-profit in Durango that can provide downpayment assistance to eligible buyers under 100% AMI. You must complete their in-person class to qualify for their services.  

Housing Resources of Western Colorado: HRWCO is a non-profit in Grand Junction that can provide mortgage assistance to buyers. 

 

Online Options

CHFA: Homebuyer Education

 

The Silverton Housing Authority may be able to provide scholarships to complete the courses. Please email achase@silverton.co.us to inquire about scholarship opportunities.