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Financing options for Colorado Springs Military — VA Loans are the best!
Are you a military member or a veteran?
Are you moving to Fort Carson? Schriever AFB? Peterson AFB? Air Force Academy?
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- How do I get a down payment for Homes in Colorado Springs?
- Credit score explanation
- Financial Do’s and Don’ts
- Local lenders vs. a National lender
With your VA Guaranteed Home Loan benefit you can still obtain a loan with no down payment and a fixed interest rate that is as good as or better than a conventional mortgage rate. Let’s start with some of the basics about VA loans.
What is a VA Guaranteed Home Loan?
Some people have the misconception that the military is the organization loaning the money. Not true. Your VA Guaranteed Home
Loan will be made by a private lender, such as your bank or a mortgage company of your choosing that has VA lending approval.
The guaranty means the lender is protected if you fail to repay the loan. This is also why you will not have to pay private mortgage insurance (PMI). Normally, a lender would require a down payment and/or PMI to obtain a loan.
For even more facts about VA Guarantee Home Loans in Colorado Springs, go the web site for the United States Department of Veteran Services.
You still must meet loan requirements
If there are items in your credit history that are derogatory, you can be denied a loan even though you have your Certificate of Eligibility. The VA cannot demand a lender make a loan to you that would violate their lending practices.
Lenders also must comply with the VA rules and policies when it comes to income and credit standards. Just having the benefit is not enough, you must be credit worthy and have the correct debt to income ratios.
Is a VA Appraisal the same as an Inspection?
No, these are not the same thing. Read the rest of this entry »
First quarter 2010 market report for homes in SOUTHWEST area in Colorado Springs
Housing Market Report for Southwest Colorado Springs, Single Family Homes
Includes Homes in Broadmoor, Cheyenne Meadows, Broadmoor Bluffs, Quail Ridge
Search for homes in Southwest Colorado Springs
Related Articles:
Homes in Southwest Area continue to be a Buyers Market, as there is currently a 8 month of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET”.
- Number of Homes in Southwest Area sold are up by 8% in 2009 vs. 2008. When comparing the high of 801 homes sold in 2005, unit sales are down by 40%.
- Average pricing continues to see downward pressure, currently down 16% from 2009 to 2008. Pricing is actually down 24% from the high of $394,375 in 2007.
- 2010 is continuing to see an increase in sales and a decrease in average pricing.
Tax Credit for military personnel
Tax Credit for military personnel
Must Read Posts:
- Government and Military are #1 employers in El Paso County
- Relocate to an Award Winning City in the Colorado Rockies
- Relocating, it’s all about the schools
- High Altitude Tips
- Moving to Colorado Springs, check out Zip Skinny
Military families stationed at Fort Carson, Peterson AFA, Schriever AFA, and the U.S. Air Force Academy and other military installations in the Colorado Springs Since Colorado Springs will be glad to learn that 
the First Time Home Owner Tax Credit has some wonderful additional benefits for the military. Here’s some of the highlights:
- Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. Read the rest of this entry »
2009 Colorado Springs Market Report for homes in Southwest
Market Report for Single Family Homes in Southwest
Includes Homes in Broadmoor Bluff, Cheyenne Meadows, Quail Ridge, Broadmoor
Search for homes in Southwest Colorado Springs
- Federal Tax credit available for remodeling
- Real Estate Agent or Realtor? What’s the difference?
- ILC versus a Survey, what’s the difference?
- Don’t forget about the Better Business Bureau
- Colorado Springs home Improvement — it’s all about the windows
- Preparing your home for a home inspection – Advice for Sellers
- What is the MLS?
- Number of Homes in Southwest Colorado sold are up in 2008, but are still down substantially from 2005, when 801 homes were sold.
- Average pricing continues to see consistent downward pressure, currently down 16% from 2009 to 2008.
- Average days on market has continued to increase from 97 to 91.
New Foreclosure listings hit the market
NEW Foreclosure Listings in Colorado Springs as of October 17, 2009
During the first two weeks of October, only 38 bank-owned properties came on the market; 15 (39%) of them are already under contract.
Homes in Fountain and Homes in the Powers area are still continuing to see more foreclosures than other areas of the city.
For a FREE list of up-to-date Foreclosure Homes in Colorado Springs, Email KTorline@msn
Read the rest of this entry »
What are my housing choices near Fort Carson?
Colorado Springs Military Relocation Tips
Must Read Posts: Relocating, it’s all about the schools
When relocating to Fort Carson, there are many neighborhoods to choose from including the Cheyenne Mountain area in southwest Colorado Springs, Fountain, Security/Widefield which are close to the base, and the Powers Corridor on the East Side of town. Commute times vary from 5-35 minutes from these areas.
Search for Homes for Sale Near Fort Carson
Fountain, Security/Widefield
Due to its close location to the base and an abundance of affordable housing, Fountain and Security/Widefield are one 
of the most popular choices for Fort Carson Relocation. Directly East from I-25 , Fountain is a vibrant growing community. Fountain is located 10 miles south of Colorado Springs and the Fountain Valley area also includes Security and Widefield; which are located in-between Colorado Springs and Fountain. Commute times to Fort Carson range from 5-20 minutes. Some of my favorite neighborhoods in the area are the Glen at Widefield, Windmill Mesa, and Clearview Estates.
Cheyenne Mountain in Southwest Colorado Springs
Cheyenne Mountain is on the southwest side of Colorado Springs, just north of Post. Part of the area is included in one of the most poplar school systems, District-12, Read the rest of this entry »
Foreclosures near Fort Carson
Diamonds in the rough near the Broadmoor – Part II
Search for Foreclosures in Colorado Springs and Fort Carson
My favorite affordable foreclosed homes of last week was on Whistler Hollow Drive on the
East side of Highway 115 in the 80906 zip code. It’s been listed since July 2008, and is currently banked owned. It looks like it’s been under contract a couple of times, but the contracts mus
t have fallen through. The original price started at $240,000 and is now priced at $230,000. When we previewed it last week, new carpet had been put in it and new paint had just been completed on the main level. It’s a 2500 square house with 4 bedrooms, 4 baths with a main level master. There doesn’t seem to be any other houses for sale in the area. Convenient location close to the main gates of Fort Carson.
We then saw a “tree house” in the foothills behind the Broadmoor, in Dixon Heights. It was extremely unique, not sure how else to explain it. Definitely a retreat in the woods; back behind the Broadmoor, the house was mostly built on stilts. As is typical
Homes in Southwest Colorado Springs continues to be a Buyers Market
Colorado Spring Real Estate – Market Report for Southwest, Close to Fort Carson
Single Family Homes – Includes Broadmoor, Cheyenne Meadows, Bluff Bluffs, Quail Ridge
Search for Homes in Southwest Colorado Springs
The Southwest housing market continues to be a BUYERS Market, as there is currently a 9.425 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “BUYER’S MARKET“. 2008 Sales units are down 25% from 2007, but 2008 pricing is only down 10% from 2007.
Open House tips
It is Open House Season
The following information is the forth in a series of Buyer Tips to provide tips for both the first-time home buyer and the most experienced home buyer. The goal is to help the consumer to become better educated about purchasing real estate in Colorado Springs and the surrounding area. This article includes tip #10.
For a FREE Buyer’s Guide, Email KTorline@msn.com
Many Colorado Springs Realtors hold open houses; and do so on many weekends during the spring and summer 
time. It can be a great way for a Realtor to get additional exposure for their sellers and it can also provide a way for Realtors to meet other potential buyers and sellers.
Also, many potential home buyers like to visit open houses. It’s a great way for them to get educated about the marketplace and to see a wide variety of homes in different neighborhoods. It helps them to see what is for sale.
When a buyer visits an open house; it’s important for them to understand who the Realtor is representing. (See my previous article about Who is Representing You?) Many people visiting an open house; don’t realize the Realtor at the open house may ONLY be representing the Seller.
In Colorado, potential clients can be represented 3 different ways, as a Buyers Agent, as a Seller Agent, and as a Transaction Broker. (See my previous article on Buyer Representation.) As a potential home buyer Read the rest of this entry »
Housing relief for military families in Colorado Springs
Colorado Springs Military
For a Free Colorado Springs Relocation Guide, Email Kathy Torline at KTorline@msn.com
Military families stationed at Fort Carson, Peterson AFA, Schriever AFA, and the U.S. Air Force Academy and other military installations in the Colorado Springs area will be glad to learn they may now be eligible for relief for their housing challenges.
An addition was made to the the Homeowners Assistance Program (HAP), administered by the Army Corps of 
Engineers. For military personnel in Colorado Springs, the main contact is US Army Corps on Engineers in Fort Worth. Their phone numbers are:
The program was originally intended to only assist military homeowners affected by base closings or a partial closure of a base.
According to the web site the new groups affected are:
- Homeowners who cannot ‘ride out’ the depressed real estate markets until their home values can recover, they are moving because of a Permanent Change of Station (PCS) order”
- Wounded warriors required to relocate for medical reasons
- Surviving spouses of fallen service members
Again, according to the web site: “HAP benefits offset some of the losses incurred when homes are sold, purchased by the government, or foreclosed upon. Applicants should understand that Read the rest of this entry »
NORAD is still alive and smaller under Cheyenne Mountain
NORAD
- After fierce competition Colorado Springs finally lands the Air Force Academy
- Military relocation? 6 tips to read before you buy a home
- An early history of Ft. Carson
- History of Ft. Carson part II
NORAD today, stills sits under the caverns of Cheyenne Mountain, even though its in a warm 
status. It may not be as large as it once was due to the consolidation of NORAD and Northcom now housed mainly at Peterson Air Force Base, but its still there protecting us from not just external but now internal threats with the help of the FAA.
In 1957, both Canada and the United States were reeling from the threats of the Soviet Union, especially after the launch of the first satellite, Sputnik. Everyone was scared and even schoolchildren were drilled on diving under their desks and covering their heads in case of a nuclear strike. Both countries realized the importance of a continental home alarm system. This lead to the creation of NORAD at Ent Air Force Base (now the Olympic Training Center). Read the rest of this entry »
Military relocation? 6 tips to read before you buy a home
Are you in the military?
Are you relocating to the Colorado Springs area? Do you want to purchase a home?
- Government and Military are #1 employers in El Paso County
- Relocate to an Award Winning City in the Colorado Rockies
- Relocating, it’s all about the schools
- High Altitude Tips
- Moving to Colorado Springs, check out Zip Skinny
Buying home is a complicated process which needs some investigation and education before making a decision. if you are in the military, you should ask yourself some questions before making the decision to purchase:
- Can you get financing? (It’s important to talk to a mortgage professional to get pre-qualified for a loan.)
- Is your tour of duty going to be longer than 2 years before the next PCS? If you know your current tour is less than two years, you have to weigh the risks of breaking even or even a loss when you go to sell.
- Will you have the opportunity to do another tour here or will you have an opportunity to come back? Read the rest of this entry »
