Centennial Colorado Home Buyers Do You Really Need a Down Payment To Buy Your Home?
This Home Buying Guide is brought to you by:
Kevin Guttman
Top Colorado Home Loan Originator
www.ColoradoHomeLoanTeam.com
877-251-9709
One of the biggest barriers to home ownership in the
country is the money needed to buy a home. The money you
need is broken down into 2 categories: downpayment and
settlement costs. Your downpayment will vary depending on
which loan program you choose.
The three major loan programs are:
FHA - Federal Housing Administration
VA - Veterans Affairs Loan
Conventional
Each of these programs has its own loan limits, down payment
requirements and qualifying guidelines which do occasionally
change so please contact our office for the most up-to-date information.
Centennial Colorado real estate closing practices vary widely from state to
state and even county to county but normally fall between
4-7% of your purchase price. Where you live will determine
exactly what you will have to pay.
Even if you are not required to escrow money for taxes,
you may want to set aside this amount to assure that you
will be able to pay those tax bills when they fall due.
You can get a good idea of what applies to your specific
area by giving me a call at 877-251-9709 or by filling
out the Contact Us form at:
http://coloradohomeloanteam.com/contact.htm
Remember, all lenders and brokers are required to provide
you with a Good Faith Estimate detailing the services you
may be required to get and pay for in connection with your
loan.
This Good Faith Estimate will give you a way to compare
loans and see what your closing costs would be. Click the
link below to find a list of coded names that describe the
different fees, which may be associated with the services
previously mentioned. These codes and names correspond to
those found on the HUD-1 Settlement Statement.
Lenders will want to see that you have had these funds in
the bank for the past 60-90 days and will request your
last 2 months bank statements.
If you do not have a lot of money available to buy a home in Centennial Colorado,
here are some ideas:
1. Borrow against your 401(k)
2. Withdraw money from your 401(k)
3. Get a gift from a relative
4. Ask the seller to help with closing costs
5. Get a grant from a non-profit organization
What If None Of These Sources Are Available?
The good news is that we have several programs that will
allow you to purchase a home if Centennial neighborhoods even if you truly have no funds.
No...this is not like the infomercials.
In the past few years, with homes appreciating rapidly
across the country, lenders have come out with new
products to address these issues.
It is still possible that we may be able to offer you a loan that
allows you to finance 100% (or almost 100%) of the purchase
price of your home.
Call me at 877-251-9709 to arrange a private No-Cost and
No-Obligation Consultation so we can review your situation and
recommend the programs that will be best suited to your needs.
In our next lesson we will cover getting pre-approved and
the CORRECT pre-approval process...
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If you would like to get started now to qualify for a new home purchase
with Centennial Colorado Real Estate please fill out a
Secure Online Application and we will contact you to
set up your free consultation and get you into the
home of your dreams with the best terms available...
regardless of your credit!
http://coloradohomeloanteam.com/application
Or if you have questions, call us or submit them here:
http://coloradohomeloanteam.com/contact.htm
I hope you have enjoyed this step of our guide.
We have many creative loan programs to fit your needs.
Please contact us at 877-251-9709 to schedule
your FREE No-Obligation Consultation where we
will meet to tailor a program to fit your needs
and comfort level for monthly payments and investments.
Kevin Guttman
Sr Mortgage Banker
Top Colorado Home Loan OriginatorColorado Home Loan Team
www.ColoradoHomeLoanTeam.com
8610 Explorer Dr #112
Colorado Springs, Colorado 80920
877-251-9709
Fax: 866-681-4354
mailto help@coloradohomeloanteam.com
P.S. We have more valuable information and resources at:
http://coloradohomeloanteam.com
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