Colorado Springs Vintage Homes Blog
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How do I get a down payment for Homes in Colorado Springs?
Colorado Springs Vintage Homes is happy to feature a great article by
Harry Venik with Adams Mortgage, LLC in Colorado Springs
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Colorado Springs Home Buyer’s Down Payment FAQs
With today’s combination of lower home prices, some of the lowest interest rates the industry has ever offered, and 
the $8000 tax incentive for first-time buyers, buying a home in Colorado Springs has never been so attractive. The only real hurdle left for many Americans is coming up with a down payment. With this in mind, we’ve put together some of the most frequently asked questions we get about down payments in today’s market.
Q. Are there any no-down payment programs left?
Yes. While it’s true that most of the popular no-down payment programs disappeared in the wake of the subprime mortgage collapse, there are still two longstanding government-backed programs that offer mortgages with no down payment: the USDA Rural Development Program and the VA Loan Program.
A USDA Guaranteed Loan is a Read the rest of this entry »
USDA has money to lend for home buyers in rural areas of Colorado!
Are you searching for a home in Colorado that’s perhaps a little out of the way? Perhaps an area like Peyton or Rush (even parts of the Springs may qualify). Do you have a good credit rating but lack a big down payment? (only requirement is $100 down). Perhaps you only make a small amount of the median income in the area, which might prevent you for qualifying for a conventional
USDA has MONEY to lend for home loans
loan. There’s help out there for you in the form of a USDA (United States Department of Agriculture) home loan! That’s right, the USDA has a home loan program geared to help people with a low to moderate income purchase homes in rural areas (you may also be surprised at what rural means). These loans are backed by the US government and unlike FHA loans, USDA loans do not require the borrower to qualify for monthly mortgage insurance premiums.
To see if you qualify based on the income limits, visit Colorado USDA office adjusted income limits which can provide you the limits based on the county that you want to purchase your home in.
USDA loans offer competitive rates and also allow seller concessions to be used towards closing costs. There’s no Read the rest of this entry »
