Eagle County Good Deeds

Making Homeownership Attainable

Eagle County Good Deeds is an innovative housing buy-down program designed to address the rising cost of housing, expand the availability of deed-restricted homes, and preserve long-term affordability for local residents. Originally launched in 2021, the program has evolved to meet the growing needs of the community and respond to the rising median home sales price. Recent updates have increased the Maximum Purchase Price of eligible properties to $1.25 million and introduced exciting new initiatives, including the Community Partner Program and the New Construction Program. These enhancements make homeownership even more attainable for locals while ensuring that housing remains accessible to Eagle County households for generations to come.

How Good Deeds Works

At its core, the Good Deeds program provides a payment from the Eagle County Housing and Development Authority (ECHDA) toward the purchase price of a home. In exchange, buyers agree to record a Price-Capped or Resident-Occupied Deed Restriction on the property, ensuring its long-term affordability. This approach helps convert open-market homes into deed-restricted properties, preserving them for local residents and the workforce while addressing the growing housing challenges in Eagle County.

Who Can Benefit?

Good Deeds is designed to meet the needs of a wide range of Eligible Households:

  • First-time homebuyers looking to enter the housing market.

  • Move-up buyers seeking a home for their growing family.

  • Retirees planning to downsize while staying in the community they love.

No matter your stage in life, Good Deeds offers flexible solutions to help you achieve your homeownership goals.

Program Overview

A comprehensive overview of the key features, benefits, and requirements of the Good Deeds program.

  • The maximum purchase price for Eligible Properties is $1,250,000.

    • Price-Capped Deed Restriction

      • Resale price appreciation is capped between 0-3% simple interest annually.

      • The Program Administrator facilitates resale and approves future buyers.

      • Policy for permitted capital improvements.

      • A 2% brokerage fee applies to resales.

      • Requires annual recertification

    • Resident-Occupied Deed Restriction

      • No appreciation cap.

      • Future buyers must be approved by the Program Administrator

      • The Program Administrator does not facilitate resale.

      • Requires annual recertification

    • Price-Capped Deed Restriction: ECHDA payment of 15% of the purchase price (up to $187,500).

    • Resident-Occupied Deed Restriction: ECHDA payment of 5% of the purchase price (up to $62,500).

    • Buyers must contribute a minimum of 3% down payment, excluding other assistance programs.

    • Buyers cannot own other residential real estate while owning a deed-restricted property.

    • Deed restrictions are perpetual and require annual recertification of eligibility.

    • Applications may be denied if the property or purchase agreement does not meet program standards.

  • A collaborative effort between ECHDA and potential communities and organizations provides a 30% buy-down on Eligible Properties with Price-Capped Deed Restrictions:

    • 15% payment by ECHDA

    • 15% payment by partnering organization

    • 30% total payment, capped at $375,000

    • Additional flexibility and support for Eligible Properties under construction.

    • Developers and Buyers may need to provide extra documentation and guarantees to secure ECHDA’s investment.

How to Get Started

Ready to take the next step? Follow these steps to begin your journey toward homeownership with Good Deeds!

  • Start by reviewing the Program Guidelines to learn about eligibility requirements and deed restriction options. This will help you understand the program’s structure and determine if it’s the right fit for you.

  • Familiarize yourself with the Eagle County Affordable Housing Guidelines: Administrative Procedures to gain a deeper understanding of the program’s policies and processes.

  • All Eligible Households are required to attend a Homebuyer Education Class offered by The Valley Home Store.

    This class must be completed prior to closing or within six months of purchase. Qualified Employers are exempt from this requirement.

  • Locate a property within Eagle County that meets the program’s eligibility requirements. The property must:

    • Be located in Eagle County.

    • Be used as your primary residence.

    • Not already be deed-restricted.

  • Once you have identified an Eligible Property, complete and submit an application.

    Applications are processed on a first-come, first-served basis and are time- and date-stamped upon receipt.

    Approval is at the discretion of the Program Administrator and is subject to available funds.

    A complete application must include:

    • A fully executed purchase and sale agreement for the Eligible Property, including any amendments.

    • The most current title commitment for the property.

    • Proof of current employment.

    • A pre-qualification letter from a local lender.

    • Proof of residency.

    • A valid photo ID.

  • Once your application is submitted, the Program Administrator will review and approve it within three business days, provided all required documents are received.

    Upon approval, you will be notified and required to execute a Deed Restriction Purchase Agreement with the Eagle County Housing and Development Authority.

  • After your application is approved, the Program Administrator will prepare the necessary closing documents and funding.

    This process requires 15 business days from the date of initial application approval.

Program Guidelines

For detailed information, please review the Good Deeds Program Guidelines.

Program Manager

For more information and to apply for the program, contact Jesus Camunez at The Valley Home Store.
jesus.camunez@eaglecounty.us
970-328-8700

Additional Resources

Homebuyer Education
Resident-Occupied Deed Restriction
Price-Capped Deed Restriction
Eagle County Affordable Housing Guidelines: Administrative Procedures