Colorado Springs, CO

Down Payment Assistance Programs Are Back In Vogue In El Paso County

02-09-10

Hans Fetterhoff: Loan Officer in Colorado Springs, CO

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Office: (719) 686-3652

Well they never really went out of style, except for the seller funded stuff.

As a Mortgage lender that specializes in home purchase transactions in Colorado Springs, the biggest challenge that I see keeping potential homeowners from purchasing a home today is the lack of a down payment.

When applying for financing, especially in today's market, the amount you have saved for your down payment really dictates the type of financing that will be offered to you even if your you have great credit. If the down payment requirement is the only thing holding you back from the benefits of being a homeowner, then I have some great news!

If you live in El Paso County you may qualify for grant through the El Paso Co Mortgage bond program. This grant can equal 3% of the loan amount and it never has to paid back! This grant works very well in unison with an FHA loan which requires only 3.5% down.(It can also be used with VA or USDA Financing). For example, if you were looking to buy a home that was listed for sale at $150,000 under current FHA guidelines you would need $5250 down. If you were to use this program the grant would be for $4342 which means you only need $907.

This program isn't for everybody and has some stringent guidelines regarding income and credit score, not to mention a possible recapture tax if the home is sold within 9 years.

Below are some highlight but make sure you speak to a qualified mortgage profesional about your scenario before you apply for this type of financing.

Minimum Credit Score 600
First Time Home Buyers Only(Except in target areas)
Maximum Loan Amount $283,000(Higher in Target Areas)
Family income no greater than $71,000 for a 2 person household or $81,650 for a 3 person household or more. (Higher in target areas)
Interest Rate 5.125%/5.238%APR
30 Year Fixed Rate Mortgage

Get Started With Are Quick Pre-Qualification Form!

Hans Fetterhoff

Mortgage Banker

CMB #100009597

Crestline Mortgage

"A Division of Universal Lending Corp"

Twitter: CoMortgagePro

www.SpringsHomesAndLoans.com

www.ColoradoSpringsMortgagePreApproval.com

You're Better Off With Fetterhoff"

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Colorado Springs Realtor - Cherise Selley - What We Say Makes A Difference

02-09-10

Cherise Selley - Colorado Springs Realtor

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Office: (719) 598-5101

Mobile: (719) 337-9779
Secondary: (888) 842-4196

Even though many of us in this industry have vast and sage experience about real estate, it’s always prudent to push the refresh button on our thinking about how to do business even more effectively, especially on behalf of the client.

I just listened to a 26-minute discussion from Allan Dalton, who runs Top 5 Real Estate Network. Essentially, Allan brings some fresh ideas to some of the staleness and complacency of our profession, which has snuck its way into our business practices over the last 4 decades.

While I’m inclined to think “outside-the-box” for the pursuit of opportunities of the client and to clean away the dusty ideas, I also take pause with what I’m saying.

To me, the essence of sales equates to the essence of character. Catch phrases, such as “Thanks for asking, and this is an opportunistic market, and marketing agent instead of listing agent, and consumer covenant, and pricing strategy instead of comparative market analysis,” might bring to light some lofty thoughts about self-improvement and business enhancement.

But again, for my own Colorado Springs Real Estate practices, I tend to differentiate the ideas of manipulative versus influence.

Personally, I appreciate what Allan Dalton presents with his real estate coaching style. Nevertheless, my customers have always come first, thus I’ve always tried to surrender to personal/professional excellence. I don’t think that these two paradigms can really be separated when working heartily with the right motives.

Just some thoughts from Colorado Springs Realtor Cherise Selley about business practice styles of Colorado Springs Realtors.

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Colorado Springs Realtor - Cherise Selley - 2009 Construction Jobs

02-09-10

Cherise Selley - Colorado Springs Realtor

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Office: (719) 598-5101

Mobile: (719) 337-9779
Secondary: (888) 842-4196

According to the Bureau of Labor Statistics, the national unemployment for construction jobs in the United States averages around 22.7%. This high percentage has significantly doused our nation’s attempt for economic recovery.

Last year, Colorado lost about 23,000 construction jobs statewide, hovering around 14.7% unemployment, which seems favorable in light of the national construction unemployment numbers.

As I mentioned in a previous blog about construction projects, publically-funded projects comprise a low percentage of jobs as compared with the federally-funded work.

Within the construction world of Colorado Springs Real Estate, there was a reported 11% decrease of jobs from 2008 to 2009. Colorado Springs has five military bases, a number of defense contractors, and several school district projects which affords some modest sustainability with the uncertain part of the construction industry.

Continue with these blog posts with Colorado Springs Realtor Cherise Selley, who is broker/owner of Selley Group Real Estate, LLC – a collaborative group of experienced Colorado Springs Realtors.

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Academy School District 20 Townhome For Sale!

02-08-10

Murray Knoll Partners

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Office: (719) 357-6320

Mobile: (719) 964-4810
Secondary: (719) 459-2213

Murray Knoll Partners | Keller Williams Clients' choice | 719-357-6320

3471 Plantation Grove, Colorado Springs, CO

Gorgeous ranch style townhome!

3BR/2+1BA Single Family House

offered at $295,000

Year Built	2000
Sq Footage	3,080
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	Unspecified
Parking	2 Car garage
Lot Size	2,500 sqft
HOA/Maint	$181 per month

DESCRIPTION

Beautiful ranch townhome with gorgeous view of Pikes Peak * Academy School District 20 * Main level master * Private patio off kitchen * 3bed/3bath/2cg * Formal dining room * Large eat-in kitchen with island and breakfast bar * Great room with gas fireplace * 5 pc master bath with walk-in closet * Two bedrooms and full bath and large rec room with wetbar and entertaining area in basement * A/C * Stucco exterior * Great community!

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Walk-in closet	- Hardwood floor
- Living room	- Bonus/Rec room	- Dining room
- Breakfast nook	- Dishwasher	- Stove/Oven
- Microwave	- Basement	- Washer
- Dryer	- Laundry area - inside	- Balcony, Deck, or Patio

COMMUNITY FEATURES

- Guest parking

OTHER SPECIAL FEATURES

- Beautiful mountain view!

ADDITIONAL PHOTOS

3471 Plantation Grove	Large Kitchen
Entry	Great room
Mainlevel Master	Rec room

Contact info:

Murray Knoll Partners

Keller Williams Clients' choice

719-357-6320

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 8, 2010, 6:31pm PST

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Colorado Springs Realtor - Cherise Selley - First-Time Homebuyer - Special Financing Programs

02-08-10

Cherise Selley - Colorado Springs Realtor

view my blog
Office: (719) 598-5101

Mobile: (719) 337-9779
Secondary: (888) 842-4196

Oftentimes, there are some special financing programs that are available for the first-time homebuyer regarding the Colorado Springs Real Estate market. Cherise Selley, a Colorado Springs Realtor, discusses just two potential options for those who are looking to have their down payment either fully or partially subsidized when contracting on a Colorado Springs home. Cherise Selley briefly mentions some information about El Paso County Bond Money and CHFA loans. Of course, it is advised to glean more detailed information from a qualified lender, especially one who is familiar with these local programs.