Boulder, C0 (November 20, 2025) |
For almost 100 first-time homebuyers in Colorado, the dream of owning a home is a little closer. With a nearly $1 million grant from the FHLBank Topeka – Affordable Housing Program and support from Elevations Credit Union, the Local Change Foundation has launched the Local Change Down Payment Assistance Program to help eligible residents afford their down payments.
Applications are now open, and qualifying Coloradans can apply today.
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- Grant amount: ~$1 million
- Recipients: ~95 first-time homebuyers
- Grant per household: $10,000 toward down payment
- Eligibility: Must earn ≤80% of area median income (AMI) and obtain mortgage through Elevations Credit Union
- Priority: ~50% of funds reserved for those earning ≤60% AMI
“This grant allows us to turn the dream of homeownership into a reality for almost 100 families who’ve been priced out of the market,” said Jennifer Hinderliter, executive director of the Local Change Foundation. “When people have stable housing, it strengthens entire communities — supporting better health, educational outcomes, and long-term economic opportunity.”
Housing affordability is a growing concern across Colorado:
- Boulder County’s median home price: $750,000 — a 50% increase since 2013
(Source: City of Boulder’s 2020–2024 Consolidated Plan)
- Denver home prices: Up 170% since 2012
(Source: Common Sense Institute of Colorado)
In addition to supporting this program, Elevations Credit Union empowers members with free financial education seminars and webinars, in-branch advice from certified credit union financial counselors (CCUFCs), and free member access to a gamified financial wellness app.
Along with mental health and education, affordable housing is one of the pillars guiding Local Change’s work in the community. Each year, the foundation also contributes over $150,000 in grants to local nonprofits and scholarships to deserving students.