Colorado Springs Vintage Homes Blog
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VA Vendee Financing helps sell VA Repos
VA Vendee Financing
Related Article: What is a VA Repo?
Search for Foreclosed Home in Colorado Springs
If you are interested in buying a VA Repo home in the Colorado Springs area, you’ll want to understand take advantage of VA Vendee Financing. Here’s some of the basic the facts:
- It’s a loan product offered to individuals and investors to help finance the purchase of VA Repos
- It’s offered to both veterans and non-veterans
- VA may contribute up to 6% of the purchase price for buyer’s closing costs
- Interest rates are determined by the VA
- For investors there is no maximum number of investment properties; down payment can be as little as 5% down
- For owner occupieds, amount can be financed with 0% down.
- Mortgage insurance is not required.
- It’s available to both owner occupied and investors
- Properties are always sold “as-is”
- There is no contingency for financing or for inspection
There are currently several Read the rest of this entry »
Deal or no Deal
Do you want to buy a Colorado Springs bank owned home?
Related article: 3 Things to know about foreclosure homes for sale
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
If you have an interest in purchasing a foreclosed home in Colorado Springs, you are probably going to be in for some surprises as you start to look at homes as many of the properties need work. I looked at a home yesterday in west Colorado Springs, that is a perfect example of some (not all) bank-owned properties. First the facts:
- Property was in a desirable west side neighborhood on 3827 Ellston in Holland Park
- Currently priced at $141,000
- House was built in 1971
- It’s a bi-level with over 1700 square feet with 4 bedrooms, 2 baths, 1 car garage.
This is what the description in the MLS says: 4 bedroom, 2 bath bi-level in Holland Park. Eat-in kitchen walks out to deck, master bedroom with walk-in-closet, large back yard with sheds. It doesn’t say anything that the house needs work, not just TLC.
What were they think when they did this?
One of the previous owners put rock facing on the front of the house; but vs. removing the existing brick, it looks like they just put mortar on the existing brick and slapped the rock on the front. I’m not any type of a construction expert, but my guess is that the rock won’t last and you can see where it is already pulling away from the house.
As you walk in the house up the stairs, the main living room has been re textured in a mustard yellow; a huge entertainment center has been semi-built (again in Mustard yellow) and not sure what they were trying to do on the ceiling with the space ship look.
All of the appliances have been Read the rest of this entry »
