Shawn

PCS to Colorado Springs?

Homebuying FAQ's 1. Isn't it just easier to rent than to buy? I get this question a lot. Colorado Springs is very different from other duty stations you may have lived at. The area is large but really still small. That won't make sense to you now but when you arrive you'll get what I mean. We have really one county in our area (excluding the mountain communities). Finding a home takes (with a good Realtor of course) no more than a...Continue Reading!

How Long Do You Have to Wait to Buy a Home Again After a Short Sale?

Answer: It Depends Read below for a list of loan scenarios. It is definitely better to do a short sale than to just let your home go into foreclosure. Even if you have already been notified that the bank is going to foreclose there still may be time to sell your home and avoid the ramifications of a foreclosure on your credit report. Conventional Fannie Mae: After only 2 years with an 80% LTV ratio (Loan to Home Value), 4 years with...Continue Reading!

What if I can’t make my mortgage payments?

Good Question! This is a common question that I hear all the time. There is no simple answer. The thing to know first is that if you miss a payment, the bank is not going to foreclose immediately.  Foreclosure is a lengthy process and costs lenders a lot of money so they don’t want to have to foreclose on their borrowers. If you act quickly, you will have time to make an informed decision. Can I make a partial payment? (more...)Continue Reading!

2313 Stepping Stones Wy, Colorado Springs CO 80904 $89,900

[nggallery id=19] Super nice condition with all new interior paint, carpet and appliances. This unit shines! Two bedrooms on upper level. You'll enjoy spectacular mountain views from the front deck. This is the best location in the complex! This unit is a bank-owned property but easy to buy. Call me at 719-264-7777  for more details or to arrange a showing!Continue Reading!

Walkout Basements and Radon

I just closed on a sale for one of my military buyers. It was a wonderful home in Broadmoor Glen at the base of Cheyenne Mountain. Typically, this area will have high radon readings when testing is done. When it came time to do the home inspection, the buyer was deciding whether or not to do the radon testing.  Radon testing costs around $110 extra on top of the regular home inspection fees according to Scott Whitbeck of HomeTeam inspections. ...Continue Reading!

Credit Reports: What You Should Know

Questions & Answers  How do lenders determine who is approved for a credit card, mortgage, or car loan?  Why are some individuals flooded with credit card offers while others get turned down routinely?  Because creditors keep their evaluation standards secret, it is difficult to know just how to improve your credit rating. It is important, however, to understand the factors and to review your credit report periodically for any irregularities, omissions, or errors. Reviewing your credit report annually can help you...Continue Reading!

1605 Westmoreland Rd. Colorado Springs CO 80907 $144000

Great opportunity close to UCCS! [nggallery id=16]This cute home is walkable to UCCS. Avoid parking hassels. All new interior paint and upper level carpeting. Main level features lovely wood floors. Four bedrooms and two full baths. Covered deck is perfect for BBQ's and entertaining. FHA and VA financing are offered on this home so buyers can close with minimal or no down payment.  This home just needs a new owner to add personal touches and a bit of TLC to make it perfect....Continue Reading!

FHA Loan Limits Are Going Down Soon!

Buy or Re-Fi now! As of September 30,2011 the new FHA loan limits will be going down. Please remember though that this means the loan limit and not the sales price. FHA requires at least a 3.5% down payment on every loan. For a single family home in El Paso county, the new FHA loan limit will be $271,050 instead of the current $325000. I personally do not see this as a problem in the Colorado Springs area. (more...)Continue Reading!

“Do’s” and “Don’ts” Make Getting a Mortgage Easier

Waiting for your closing day? During the processing of your loan there are certain things to keep in mind that may impact your loan transaction. During the loan approval process, your credit history, income and assets are verified for the initial approval and oftentimes just before your loan closing.  (more...)Continue Reading!

Benefits of an FHA Home Loan are many!

FHA loans have increased in popularity in the past few years and for good reason. I'll list a few in this post. First, the FHA loan requires a down payment of only 3.5%. This helps first time buyers get into a home with little investment. Next, closing costs of up to 3% can be paid by the seller of the home. This is another great benefit that helps buyers with little cash buy a home. (more...)Continue Reading!