Many home buyers are unaware of ways to save money on home loans such as the assumable mortgage loan. This article explains what an assumable mortgage is and how it is used with VA loans to save veterans thousands in the Colorado real estate market. Active military service members and veterans looking for Fort Carson housing should take advantage of this often overlooked interest rate workaround. If you’ve ever wondered “Are VA loans assumable?”, this article will give you a detailed explanation of an assumable mortgage.
Not every loan can be an assumable mortgage loan. Only FHA and VA loans are assumable. It’s not a sure thing either because most assumable loans must be approved by the lender unless the mortgage was closed
Home buyers can expect a triple whammy in 2019 with a continuing tightly competitive market (low supply), higher prices, and an interest rate increase. But all is not lost in the 2019 Colorado Springs real estate market. There are several welcome developments for home buyers and mortgage borrowers. New construction will include more affordable entry-level homes and mortgage lenders are easing the qualification requirements for loans. First time home buyers are getting much-deserved attention now in the real estate market, more so than ever before.
Below, is a list of housing and mortgage trends for 2019.
Need More Homes
The lacking supply of homes for the market will continue to lag in 2019, but it’s not expected to worsen. The number of
Choosing a professional real estate agent to list your home is so important in today’s market where buyers pay attention to details such as how long a home has remained on the MLS and how many times the price has dropped. Hiring a poor performing realtor can end up costing you in the long run when you find yourself paying the mortgage for your unsold unoccupied home.
Your listing agent should act as an advocate for you every step of the process. But oftentimes, some agents post the listing on MLS and then do nothing to promote it.
The sellers that hire these realtors are unaware of the realtor’s lack of professionalism. The seller assumes that the realtor they’ve hired is someone they can trust.
Whether or not those homes were the right homes for buyers, however, is an entirely different matter. Finding the right kind of home that suits our needs and wants is possible when we know exactly what we're looking for and where.
High competition and limited housing choices sometimes skew a buyer's mindset when selecting a home. Other times a lack of patience can also cause a buyer to make the wrong housing choice. Regardless of the reason why some buyers make these decisions, some end up selling after discovering the house just wasn't right for them.
We all want to find our dream homes within our price range. We see our homes as symbolic to time with family, a sense of security, and as a reflection
It isn’t any wonder that people flock to Colorado Springs for their next home. According to the U.S. News and World Report “Best Places to Live”, Colorado Springs ranked second! And data from the U.S. Census shows that Colorado is currently the seventh fastest growing state in the country. With that in mind, you might be surprised to know that there are also numerous local, state, and national down payment programs available to Colorado home buyers.
Many people don’t believe they can afford to buy a home, so they continue to throw away thousands of dollars in rent year after year. Sadly, these rental payments could be used to build equity on a home instead. One big reason for this is because many people are simply not aware of the first time home
The most recent numbers show another strong quarter for the Colorado Springs housing market.
Compared to Q3 of 2017, the total number of listings and days on the market remained virtually identical. Homes priced between $300k-$500k along with the $1million+ market gained momentum, but the number of units sold under $300k declined by 26% due to the extreme lack of inventory.
One interesting indicator during this quarterly cycle is the median sales price. Although our local market values have increased another 11% over the same period last year, the current median sales price is down 2% compared to Q2 of 2018.
Keep An Eye On Interest Rates
Mortgage interest rates also continue to rise. According to Freddie Mac, the average rate for a 30-year
Looking for a place to live with a little bit of everything?
Perhaps a place that's consistently ranked highly as a desirable place to live?
Look no further than Colorado Springs, Colorado. The city has grown more than 12 percent in recent years, and it doesn't appear to be slowing down any time soon.
Thinking about moving to Colorado Springs? Read on to find out more about why it might be the perfect place for you.
1. Active Real Estate Market
Colorado Springs has a bustling real estate market. Although it's tilted slightly in favor of sellers, the fact that housing prices continue to rise means that buying a home is a solid investment. Now is definitely the time to move, as the market is expected to slow down a bit by 2020.