Project Overview
The Rock Creek Housing Project (RCHP) is a new affordable/attainable housing subdivision located in Ignacio, Colorado, and has new homes for sale for income qualified home buyers. These homes are for qualified buyers who, at the time of purchase, must have lived in one of the five counties of the Region 9 Economic Development District of Southwest Colorado (La Plata, Archuleta, Montezuma, San Juan, and Dolores counties) for one year prior to purchase or have secured employment or currently work 32 hours or more per week in La Plata County. All homes will be deed restricted for buyers with an Area Median Income (AMI) at or below 140%. Road, sidewalk and utility infrastructure is complete and home construction has begun. Improvements for new modular homes are underway, and homes are scheduled to be set in February and ready for occupancy in April of 2025. The current construction phase has 10 units for sale utilizing two different models, each with two different sizes. Links below will connect you to the different home floor plans.
The newly formed Ignacio Housing Authority is the lead on this project and has utilized numerous grants and funding sources that have resulted in lower home prices for buyers below the 140% Area Median Income (AMI). These grantors and funders include the Colorado Department of Local Affairs, La Plata County, the La Plata County Regional Housing Alliance, CHFA, First Southwest Bank and the Town of Ignacio. Professional services have also been provided by SEH, Canyon Construction, Fading West, Clearheart Design, HomesFund, DeeDee Johnson (R1 Colorado) and several local subcontractors. Home prices have not been finalized but range between $299,000-$399,000.
Antero
The Antero is a two-story 2-bedroom, 1.5-bath unit that comes in 16 and 18 foot widths resulting in 1024 and 1152 square feet, respectively. The bedrooms are upstairs. An attached single car garage measuring 12 by 24 feet is included. A large front porch offers an attractive street side entrance.
Shavano
The Shavano is a two-story 3-bedroom, 2-bath unit that comes in 16 and 18 foot widths resulting in 1216 and 1368 square feet, respectively. The master bedroom is downstairs and two bedrooms are upstairs. An attached single car garage measuring 11 by 24 feet is included. A large front porch offers an attractive street side entrance.
Democrat
The Democrat is a 1-bedroom, 1 bath unit that comes in an 18 foot width resulting in 608 square feet. The floorplan is open and perfect for a single person or couple. An attached single car garage measuring 12 by 24 feet is included. A large front porch offers an attractive street side entrance.
The Homes
The single family residential homes are situated on individual lots served by all utilities including fiber optics to the home. The modular homes are constructed by Fading West which is located in Buena Vista, Colorado. The homes are International Residential Code compliant and utilize quality materials and finishes throughout. The Fading West production facility constructs quality homes in a controlled environment and with efficient work stations that results in quality and energy efficient homes that upon completion are trucked to Ignacio and assembled and finished by local contractors. The units are energy efficient and include mini-splits (heating and cooling) and all electric appliances.
The unit mix in Phase 1 construction is utilizing Antero and Shavano models. In Phase 2 construction we may also offer the Democrat model which is one-story. For more information click the button below.
The units will be finished with metal roofs and wainscot and a stucco exterior which will provide wildfire resistant construction. An attached single car garage and large entry porch are also provided. Click on the links below to see the different home plans for the Antero and Shavano models. Home prices have not been finalized but range between $299,000-$399,000.
Pre-qualification
This project is only available to qualified home buyers and has income, work and residency restrictions. Interested home buyers begin the purchase process by completing an Eligibility Verification Form (EVF) which is available by selecting the Prequalification tab. The HomesFund, which is a local non-profit organization that provides home buyer education and down payment assistance will review the EVF and associated documentation submitted by interested home buyers. HomesFund will work with the applicant to review the form and associated information to determine homebuyer qualifications. All prospective home buyers are required to take a home buyer education class offered by HomesFund prior to closing. HomesFund also has multiple down payment assistance programs available for eligible income qualified home buyers and they will inform home buyers on these funds and how they can assist with reducing the first mortgage loan amount associated with their home purchase. HomesFund will issue Qualified Buyer Letter to qualified home buyers indicating their eligibility in the program and concluding the prequalification process.
Program Qualification
Once a home buyer has completed an Eligibility Verification Form (EVF) and received their Qualified Buyer Letter they will begin working with a permanent financing lender and the Ignacio Housing Authority (IHA). Several local permanent mortgage financing lenders are familiar with this project and can work with qualified home buyers on permanent mortgage financing. Some of these lenders also have loan programs that provide closing cost assistance for qualified home buyers which helps reduce home buyer funds required at closing. HomesFund and the IHA can direct home buyers to these lenders once they are prequalified.
The permanent financing mortgage lender will work with home buyers and determine the home buyers borrowing capability which is based on eligible income, debt and credit. Permanent financing mortgage lenders will also work with home buyers who are eligible for HomesFund down payment assistance. Eligible down payment assistance will be applied to the new mortgage loan and reduce the final mortgage loan amount. The permanent mortgage lender and HomesFund will coordinate loans prior to closing. Upon loan approval, the permanent mortgage lender will issue a prequalification letter to the homebuyer with all the loan terms.
The IHA will work with prequalified home buyers once a prequalification letter has been issued and determine which housing model the home buyer qualifies for and determine which units are available in Phase 1 of the project. The IHA has retained DeeDee Johnson from R1 Colorado to assist qualified home buyers and work through the contract signing and other final steps associated with the qualifying process. At the conclusion of the qualification process home buyers will know which unit and lot they will purchase and the final step will be closing on the home.
Homes are scheduled to be set in early December and ready for occupancy in early 2025. Home buyers may be able to select exterior finishes if they are approved before this work is completed on the homes.
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