To qualify to purchase an affordable housing property, you or your household must meet specific criteria outlined in the Town of Mountain Village Housing Authority Operating Document. For a complete list of for-sale housing options, that information will be posted on our homepage, under Village News, whenever something becomes available.

Criteria Snapshot

• Comply with the Employee Housing Restriction
• Net worth not to exceed 2.5 times the purchase price of the home; net worth is the sum of the value of real estate investments, cash, vehicles, etcetera, minus liabilities like credit card debt
• Occupy the unit as the primary resident and maintain the work requirements
• Total annual income not to exceed 250% of area median income for San Miguel County as defined by the U.S. Department of Housing and Urban Development 

Appreciation Limits on Resale Affordable Units

• Appreciation cap is 4% per year annualized for the time period that you own the unit.
• Home improvement costs may be added to the original purchase price (gross amount); improvement costs may not exceed 10% of the original purchase price and must be approved by the San Miguel Regional Housing Authority.
• Town Council may grant a variance for improvements that exceed 10% of the original purchase price of the ownership unit.

 
Foreclosure

• We have the first right of refusal to repurchase any affordable housing unit built by us.