Colorado's new program gives teachers help buying their first home

Colorado's Schools to Home program, funded by $10 million from the state's Public School Permanent Fund, offers public school employees down payment and closing-cost help worth up to 25% of a first mortgage, with the state recouping funds plus a share of home appreciation when the house sells. Since launching July 1, 85 people have used it, and officials estimate the initial funding will support about 125 purchases averaging $80,000 in assistance each. With Colorado's median home price near $550,000 against average teacher salaries of $60,000-$78,000, the program is an early but concrete example of a state trying to address teacher retention through housing subsidy rather than pay alone.