SJDA Homeownership Program Application

APPLICATION PERIOD: 12:00am February 11th, 2025, to 11:59pm March 11th, 2025. Applications must be submitted according to the official Application Packet below. Late and/or incomplete Applications will not be considered or reviewed.

ELIGIBILITY REQUIREMENTS: Eligible applicants must earn exactly or less than the 2024 80% Area Median Income in San Juan County. The Area Median Income levels are published here. 

2024 San Juan County 80% Area Median Income 

Reasonable Accommodation – Applicants can request accommodations under the ADA if they need modifications to the Initial Qualification Application or the SJDA Homeownership Program. Requests must be submitted to Silverton Housing Authority staff before the Application Period closes for review and approval.

Limited English Proficiency – The SJDA Homeownership Program follows state and federal guidelines to ensure language access. Free interpretation and translated documents are available as needed. Applicants can indicate language preferences during the application process, and bilingual staff or interpreters will assist. No one will be excluded due to limited English proficiency.

Fair Housing Act – The Silverton Housing Authority follows all federal, state, and local nondiscrimination laws, the ADA, and HUD fair housing regulations in the administration of this Application. 

FOR ASSISTANCE, REASONABLE ACCOMMODATION REQUESTS, OR TRANSLATION SERVICES: 

Contact Anne Chase: achase@silverton.co.us, 970-880-0278

The SJDA Homeownership Program (Section 200) / Silverton Affordable Housing Guidelines can be accessed here: Silverton Affordable Housing Guidelines.

• Please note in cases where the SJDA Homeownership Program conflicts with the Silverton Affordable Housing Guidelines, the SJDA Homeownership Program shall govern. 

The 735 Martha Rose Affordability Covenants will be recorded to the property prior to the closure of the Application Period (subject to change). Review the draft version here. 

How do I apply?

If you believe you are eligible to apply for the Waitlist, please complete and submit the Official Application Packet by March 11th, 2025. The Application Packet has instructions and further information. If you require the application in a different format or language, or need general assistance, please contact Anne Chase at achase@silverton.co.us or 970-880-0278. 

How do you calculate income?

To be eligible to apply for the Waitlist, your household's gross income (income before taxes) must be exactly equal to or less than the 2024 80% Area Median Income level for San Juan County. Income sources include, but are not limited to paychecks, Social Security / Pension payments, interest earned on assets, income from rental properties, gig-economy income, etc. If you are self-employed and your business operated at a loss, your income would be considered $0.00, i.e. the loss will not be subtracted from your other income. The Silverton Housing Authority reviews and verifies your income level according to the Part 5 Income Calculation of 24 CFR 5.609(b) and (c). 

For a more conclusive list of Income inclusions and Exclusions, click here. 

Additionally, you will find more information in the Silverton Affordable Housing Guidelines Section 104: Household Income Verification. 

What is the Waitlist Drawing Process? 

On April 7th during a Silverton Housing Authority Special Meeting, Applications will be randomly selected through the Waitlist Drawing Procedure in the SDJA Homeownership Program Guidelines to determine the order of Applicant Placement on the Waitlist. Admission to the Waitlist does not constitute and official offer, nor does it create any right or expectation that the Application will be eligible or offered to purchase the Housing Unit. Placement on the Waitlist is solely for the purpose of determining potential future consideration and does not guarantee that the Applicant will be offered the opportunity to purchase the unit. The Waitlist determines the order in which the Silverton Housing Authority will initiate a Buyer Approval Process. If the buyer is approved, they will be offered the opportunity to purchase the unit. If they are not approved, they will be removed from the Waitlist and the next Applicant on the Waitlist will begin the Buyer Approval Process until the unit has sold.

What supporting documents do I need to submit in my Application? 

The Applicaiton Checklist can be found in the Official Application Packet. The following shall not be considered the official Application Checklist.

• Application Fee: $25.00 via check made out to Silverton Housing Authority, or for credit card, call 970-387-5522.

• Waitlist Application

• Mortgage Pre-Approval Letter from Lender: Letter must be dated within 90 days of Application Period Opening. Letter must include applicants full legal name and maximum loan amount.

  • If Applicant is not using a mortgage to purchase the property, Proof of Funds in the amount of the purchase price must be submitted in lieu of the mortgage pre-approval letter.   

  • If Applicant is using a co-borrower or co-signor, Applicant must complete the Exception Request Form (in the Application Packet).

• Waitlist Applicant Agreement (in the Application Packet).

• Authorization to Release Information (in the Application Packet).

• Income Verification: 

  • Part 5 Income Calculation (in the Application Packet).

  • 2023 or 2024 Tax Return

  • Verification of Deposit for all bank accounts or:

    • Checking Accounts: 6 consecutive months of bank statements

    • Saving Accounts: 2 consecutive months of bank statements

    • Interest or Investment-Bearing Account Statements: minimum of quarterly statement, or an annual statement.

• Self-Employment (if applicable): 

  • Self-Employment Certification (in the Application Packet)

  • Previous year’s Profit and Loss Statement. Note: If your business operated at a loss last year, your income from the business should be listed as zero ($0); losses are not subtracted from income.

  • Business Plan Summary: Include business type, state started, frequency of work, frequency of payment, and typical payment amounts.

• Fixed Income (if applicable): Includes: Social Security, Pensions, Annuities, Trust Distributions.

  • Benefits Letter / Award Letter; OR

  • Six (6) months of bank statements to which the deposit is made.

• Employment Verification Form if applying for Bonus Entries (in the Application Packet).