El Paso County Housing Authority

El Paso County Housing Authority –  Turnkey Mortgage Origination Programs
Note – for details, see the Administrator’s Guidelines under GUIDE & FORMS

  • TBA Turnkey Program funds are available first-come, first-served from a continuously funded revolving pool.
  • TBA Turnkey Program – RESERVATIONS/Locks are OPEN on business days from 8 am to 6 pm Mountain (10am-8pm EDT)
  • MCC Program and All other system features available 24/7, 365
  • All of El Paso County, Colorado
  • including the City of Colorado Springs
LOAN TIME LINE REQUIREMENTS DO NOT RESERVE EARLY: Must complete Underwriter Certification by 15th day

  • Reservation to UW Cert: 15 days (Lock expires on the 15th day, cancelled)
  • Reservation to Close and Delivery: 45 days (expires on the 45th day)
  • Reservation to Loan Purchase: 70 days
  • Any loan not purchased within 70 days is ineligible for purchase unless the lender chooses a one-time only 30-day extension.
  • To request a one-time 30-day extension, click here.
  • Extensions are not granted to extend the 15 days from Reservation to UW Certification
  • TBA Turnkey only – No First-Time buyer requirement
  • MCC , Turnkey/MCC as additional
    • All Borrower(s) & Spouse (including NPS) must qualify First-Time Homebuyers
    • IRS Tax Transcripts for past 3 yrs.
  • Must be Principal Residence
  • Must occupy within 60 days of closing
  • Freddie Mac HFA Advantage 
  • Assistance is automatically calculated of the Note amount
  • Assistance is a grant, no second mortgage or note.
  • DPA Funds are requested prior to closing
  • TBA Turnkey Household income = 1003 Credit Qualifying Income (do not include co-signor’s income)
    • 1 or 2 Person Household: $88,680  
    • 3 or more Person Household: $103,460  
  • MCC , Turnkey/MCC Household income = Borrowers & spouse 
    • 1 or 2 Person Household: $73,900 
    • 3 or more Person Household: $84,985 
  • TBA Turnkey  –  New or Existing Residence –  $312,368  
  • MCC , Turnkey/MCC –  New or Existing Residence –  $255,573 
  • The Authority recommends but it is not required.
  • FICO – see Guidelines 
  • DTI – Max DTI ratio is 45%
  • manual UW not allowed
  • Follow Agency Guidelines (FHA, VA, Freddie Mac)
  • may NOT have a ownership interest (Warranty Deed)
  • May NOT reside in the residence
  • Online, once logged in to eHP system, see FORMS and Guide
  • Issues the First Mortgage Program and Down Payment Assistance Program
  • Sets the rate, term, points and DPA options
  • Lender relationships
  • Markets the Program
  • Takes application for the program
  • Reserves first mortgage in eHousingPlus system
  • Must meet loan processing timeline
  • Process, Underwriter, Certify, Fund, Close and Sell qualified loans to the Program Master Servicer
  • Check with your company on how to reserve a loan in YOUR own system so that you have funds available at closing
  • Responsible for servicing loans in accordance with Agency requirements until loan is purchased by the Master Servicer
  • Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file
  • Servicer Lender Guides, Click here
  • If you need assistance getting to the Servicer Lender Guides, Click here. To contact US Bank Lender Help Desk, Click here.


Current Rate/Offerings – Reservation/locks – AVAILABLE from 8:00am-6:00pm Mountain (10-8 EDT excluding weekends & holidays)

Rate/Offerings FICO Lock Rate DPA Effective Date
USDA-RD or VA 640 4.50%  w/4% 4/12
FHA 660  w/4%
FHA 640-659   w/3%
HFA Advantage   640 4.875% w/4% 4/20


  • All Loans are Assisted Rate Loans
  • 30 Year, Fixed Rate, Amortized
  • DPA Assistance is automatically calculated on the Final Loan Amount (Grant)
  • manufactured homes not allowed
  • manual UW not allowed


eHousingPlus is the Program Administrator, and provides some of the following services:

Administrator Guidelines (9/13)                       MCC Guidelines  (1/11)    Guidelines 6/17   

  • Provides the web-based program loan reservation and management system, Administrator’s Guidelines, Program forms, Lender Program and System Training, Notices and updates to Lenders, Compliance Support to Lenders, Reviews Compliance Files, Timelines, Works with the Agency and Master Servicer on Program Goals.
  • Need help, Click here

Program Sample Forms sample

The Following Lenders have been approved to originate loans in the El Paso TBA Turnkey Program and/or in the El Paso MCC Program:

TBA MCC   Approved Lenders
y y   Academy Mortgage
y y   Air Academy FCU
y y   Axia Financial, LLC
n y   Bank of America
n y   Bay Equity, LLC
y n   Broker Solutions, Inc. DBA New American Funding
y n   Caliber Home Loans
y y   Catalyst Lending, Inc.
y y   CB&T Mortgage (Farmers & Stockmens)
y n   Cherry Creek Mortgage
n y   CityWide Home Loans
n y   Cornerstone Home Lending, Inc.
n y   DHA Financial, Inc.
y n   ENT Credit Union
y n   Envoy Mortgage
y y   Fairway Independent Mortgage Corporation
y y   First Mortgage Co. LLC
y n   Franklin American Mortgage
y n   Georgetown Mortgage, LLC
y y   Guaranteed Rate, Inc.
y y   Guild Mortgage Company
y n   Homebridge Financial Services, Inc.
y n   Integrity Mortgage & Financial, Inc.
y n   LeaderOne Financial Corporation
y y   LoanDepot.com dba iMortgage
y n   Midland States Bank
n y   Midwest Mortgage Associates Corp.
y n   Moria Development Inc. dba Peoples Mortgage Corporation
y n   Mortgage Solutions of Colorado
n y   Mountain West Financial, Inc.
y n   Northpointe Bank
y y   NOVA Financial & Investment Corp.
y y   Peoples National Bank
y n   SWBC Mortgage Corporation
y n   Universal American Mortgage Company, LLC dba Eagle Home Mortgage
y n   US Bank Home Mortgage
y n   VIP Mortgage, Inc.
n y   WR Starkey Mortgage, LLP


Interested in becoming a participating lender? Contact us.

Program Updates


  • 5/20 – effective as of 5/18 – revised income & acquisition limits for the MCC Program. Please see the Guidelines.
  • 12/1- MANUFACTURED HOMES are eliminated
  • 12/1- FHA – no manual underwriting
  • 10/1-Freddie Mac HFA Advantage
  • 9/1 – new income limits for the TDA Program
  • 6/18/15 – MCC income & acquisition limits updated
  • 7/18/14 – MCC Program Starts
  • 7/16- MCC Training
  • 6/9- Updated guidelines – servicer fee
  • 10/18 USDA-RD – resumed reservations
  • 10/15 Guidelines updated
  • 10/1 – USDA-RD – New reservations temporarily suspended due to government shutdown
  • 7/1/2013 – Mortgagee Letter 2013-14 & Guidelines
  • NEW DPA Funds Request Form on line – login to system, under forms. See Sample
  • 2013 Program Starts 1/10 – All lenders must attend eHP Program Training

EhousingPlus University

  1. eHP Lender Program Training
    • Required for everyone participating in the program
    • offered 24/7
    • Click here to attend Program training
  2. eHP System Training*
    • After you complete the online Lender Program Training, information is provided as to what happens next.
    • Click here to register for system training


Should you have any questions on training, please contact jennifer@ehousing.cc

To read more about eHP Program Training, click here.

* System Training is required at least once, so that users gain the knowledge necessary to originate and manage their loans on-line. eHP University provides additional opportunities to re-train and/or refresh your system knowledge. Recurring (experienced) system users do not need to attend system training.