Home Buying Information for Colorado Springs

Everything you need to know about the home-buying process in Colorado Springs, CO.

Found 59 blog entries about Home Buying Information for Colorado Springs.

Should I Get an FHA or VA Loan? What You Need to KnowThose trying to decide between a VA or an FHA loan may have a number of questions before getting started. It's time to find out more about how the two are similar, how they differ, and how Palmer Lake homeowners can use this information to decide which is right for them.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Mortgage Facts

Both VA and FHA loans are backed by the government to encourage home buying. However, the rates aren't always as low as homebuyers may think. When it comes to comparing the averages, the VA loan boasts the lowest rates when compared to both FHA and conventional lenders. In addition, VA loans do not require Private

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Where Do Military Members Need to Update Their Addresses When They Move?Most members of the military are no strangers to the concept of moving, whether it be due to an assignment transfer, the end of a tour of duty or retirement finally rolls around. However, the processes of making an official change of address request will differ depending on the circumstances and logistics of the move. Here are the steps for changing a military address and ensuring mail is forwarded to a new Gleneagle residence or non-military location.

How to File a Change of Address for a Military Address

Individuals planning to transition from a military address that includes FPO, DPO or APO will have two options for changing their address: in person at a United States Postal Service location or at the USPS website online. Taking action in

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How to Save Money During a Military RelocationFor members of the military, moving is often part of the job. Those in active duty as well as their family members are often asked to move across the country to a new base. Sometimes they have advanced notice and can plan accordingly, and other times, a last-minute decision is made and logistics must be coordinated quickly.

Either way, a military move can be expensive. These tips can help military members and their families save money while making plans to head to their new Monument home.

Organize and Reduce Household Products Before the Move

Whether a military family has been living on the same base for a decade, or they have only been in their current location for a year, it's likely they have acquired more stuff than they truly need to

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What Kinds of Homes Can I Buy with a VA Loan?There are a lot of misconceptions when it comes to the VA loan, and these myths can unfortunately keep people from even applying for it. These government-backed loans give lenders more freedom, meaning their terms are different from that of a conventional lender. However, these loans do specify homes must be in liveable conditions in order to purchase. So whether it's a townhome, condo, or single-family home, certain requirements need to be met. Florissant home buyers considering the conditions of the property they can purchase with a VA loan should keep the following in mind.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Basic Amenities

VA

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What You Should Know About VA Home Improvement LoansThe Department of Veterans Affairs backs one of the most attractive loans available in the industry today. However, they have their own rules when it comes to what types of property are eligible for these special loans. Those who want to buy a fixer-upper will not be approved unless the home meets basic livability standards and declared free from defects. For those whose dream homes may need some work to meet these requirements, a VA home improvement loan may be useful. Learn more about how these loans work and who they're meant for.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Understanding the Terms

A VA home lender wants the property to

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203k Loan vs. VA Loan: Which is Right for Me?Both the 203k and VA loan have a reputation for being buyer-friendly options that can help Northgate homeowners manage their budgets. But there are a few key differences to know that can make it easier for homeowners to choose between them. Learn more about the requirements, eligibility, and terms for each type of loan before applying.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

The Basics of Each Loan

A 203k loan can be used to either buy or refinance a home that needs repair work. It's a type of FHA loan created to breathe life into decaying neighborhoods. These loans incentivize homeowners to improve their properties in an effort to

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How to Qualify and Apply for a VA LoanA VA loan is often the best way for a veteran to purchase a new home. VA loans are sponsored by the US Department of Veterans Affairs (VA), and they make it easier for veterans to purchase, renovate, or build a new home. Because the loans are government-sponsored, they have very specific qualifications that need to be met. Here is what Downtown Colorado Springs home buyers need to know about how to qualify for a VA loan.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Homes Eligible for VA Loans

Not every home can be purchased with a VA loan. In order for a home to be eligible, it can be a condo, manufactured home, modular home, or new

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How to Find Real Estate Agents Skilled in Working with VA LoansThrough the VA home loan program, servicemembers, veterans, and other eligible individuals can start their journey toward Black Forest homeownership. There are many requirements to pay close attention to, however, in finding an eligible property for sale. Real estate agents can make this process much easier and more approachable, but it is important to find the right one. To do so, use this guide to learn how to screen real estate agents who work with VA loans.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Ask About Their Experience

To best serve the needs of the homebuyer, real estate agents need to have experience in helping people buy properties

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Facing Military Reassignment: Should I Lease or Sell My Home?There's little doubt leasing a home when transferred to a new permanent duty station can be a smart financial decision for some military families. Although individual situations differ, if the new assignment includes on-base housing, or if a family's goal is to return to the home some time again, leasing is a good way to cover the cost of ownership and build equity for the future.

However, the prospect of becoming an absentee landlord can be a major headache. Carefully weigh the pros and cons of leasing vs. selling a Colorado Springs home, and consider all available options before making an informed decision.

For informational purposes only. Always consult with a qualified legal expert before proceeding with any real estate transaction.

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Should You Be Living Off Base or On Base? TipsIf you're in the military, you have the choice to live on or off the military base. The place where you live can make a big difference in your overall experience in the military. Knowing the differences between each option as well as the pros and cons can help you decide whether life on a military base is right for you.

Benefits of Living On Base

A military base is a facility owned by the military. People in the military have the option of living on base, in military-owned housing. Often, people interested in living on base must put in their request months or even years in advance. However, there are many advantages of living on the base.

Convenience

Military bases come with basic services like schools, parks and stores. People who live on

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