Colorado Springs Realty Blog

Fannie Mae and Freddie Mac have recently changed guidelines regarding seller contributions.   If you are purchasing a second home that is not your primary residence, the seller can not contribute more than 2% of the purchase price toward buyer closin… more »

Many home buyers in Colorado Springs obtain FHA financing for their home purchase and may be affected by the upcoming changes with FHA guidelines.  FHA requires a low down payment making it easier for many buyers to purchase a home; currently, home buyer… more »

For seniors 62 and older, Reverse Mortgages may be a great option for gaining aceess to the equity in their home for additional income.  No monthly mortgage payments are required and the equity pulled out of the home does not have to be paid back until t… more »

  VA is offering Energy-Efficient Mortgages (EEM) to borrowers who are interested in making energy-efficient improvements to their home.  New borrowers or current homeowners interested in re-financing can increase their loan amount to account for the Gr… more »

      One advantage of having a VA mortgage is that it is assumable. If the interest rates skyrocketed and a buyer wanted to assume the seller’s VA loan instead of obtaining a new loan with a high interest rate, it can be done with approval of V… more »

There is another advantage available to first time home buyers who purchase a home between January 1, 2009 and November 30, 2009.  First time home buyers or buyers who have not owned a home in the last three years will benefit from the $8,000 tax credit.… more »

There are options outside of foreclosure available to homeowners who have fallen behind on their mortgage payments.  Many banks have taken measures to slow down foreclosures and help troubled homeowners.  Citibank not only has put a moratorium on foreclo… more »