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Colorado Springs Real Estate – FHA Down Payment Requirements

By in Buying On September 15, 2008

FHA currently requires a minimum down payment of 3% from home buyers and beginning January 1, 2009, FHA will increase the requirement to 3.5%. If you are in the process of purchasing a home in Colorado Springs, the loan must close by December 31, 2008 in order to fall under the current guidelines (3% down payment).…

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Housing Stimulus Bill to Help Troubled Homeowners

By in News On August 7, 2008

The Housing Stimulus Bill (The Housing and Economic Recovery Act of 2008) recently signed by President Bush, is expected to alleviate some of the turmoil surrounding the foreclosures bombarding the current real estate market in many areas around the nation.  The Housing Stimulus Bill entails many provisions and I will include only a few of…

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Foreclosure in Colorado Springs

By in News On May 8, 2008

There is no longer a redemption period for homeowners in Colorado Springs as of January 2008.  In other words, once a Colorado Springs home goes to sale through the El Paso County Public Trustee and is sold to a buyer, the homeowner no longer has 75 days to redeem the property like in the past.…

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FHA Loan Limits Increase for Homebuyers in Colorado Springs!

By in Buying On March 31, 2008

Great news!  The FHA (Federal Housing Administration) Loan Limits increased on March 5, 2008 for this year to $325,000 for El Paso and Teller Counties.  If you are looking to buy a home, now is a great time with the low interest rates, recently increased FHA loan limits, and large selection of homes to choose…

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