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Turnkey Mortgage and Down Payment Assistance

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Turnkey Mortgage and Down Payment Assistance

Not limited to first time home buyers, the “Turnkey” Mortgage is a competitive 30-year fixed-rate mortgage with a Down Payment Assistance (DPA) Grant (no repayment) equal to 4% of the mortgage amount!

Mortgage Tax Credit

Used jointly with the tax credit feature, qualifying first time home buyers receive an annual federal income tax credit equal to 50% of the annual interest they pay on their mortgage loan!

Qualifications

  • No “recapture tax”
  • Max Income and purchase price limitations
  • Available with various lenders!

Additional Down Payment Assistance Programs

We’ve identified over 25 down payment assistance programs to help new and existing home owners with costs to buy or upgrade the home of their dreams while saving tens of thousands, making the dream of home ownership a reality. Visit our Down Payment Resource page to locate additional programs that may help with your home ownership dreams.

The Axiom Realty Team

Norberto Villanueva is a REALTOR©/District Director for the Axiom Realty Team at Fathom Realty in Colorado Springs. A licensed real estate broker since 2002 and a mortgage loan officer/broker for five years before that, we specialize in residential housing and investment solutions. As a Certified Home Buying Advisor, Norberto is able to help most if not all homeowners with the funding necessary to cover most if not all down payment, closing and prepaid costs.

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160210 Hot Properties

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Relationship-Safe Remodeling

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In a recent HomeAdvisor survey, more than half of respondents who reported completing a remodeling project with a spouse or domestic partner admitted to arguing with their partners during the process. In fact, 3 percent even considered separation or divorce! Check out the infographic below to see what couples argue most about — and to get some expert advice to help keep your relationship from crumbling under the pressure.

Source: HomeAdvisor | Relationship-Safe Remodeling

01272016 Hot Properties!

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Did Existing Home Sales Rebound in December?

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The National Association of Realtors (NAR) just released their latest Existing Home Sales Report on Friday. Sales of existing homes rose by the largest increase every recorded as they rebounded 14.7% over November’s numbers and now stand at 7.7% higher than a year ago.

Source: Existing Home Sales Rebound in December | Keeping Current Matters

Existing Sales Rebound Nationwide

On a national scale, existing sales rose 14.7% over November and are 7.7% higher than December last year. That's good news! Real estate has long been the little engine that could insofar as the national economy is concerned and this is an encouraging fact to consider in terms of consumer confidence.

Location, Location, Location

We've previously discussed the fact that real estate is local in the sense that national trends, be they good or bad, may or may not apply in your local area. 

As a case in point, consider the negative trend for existing homes for sale in El Paso County, CO as shown in this graph, where there was a 19% decrease from November to December 2015 and a 18% decrease from December 2014.

December 2015 Homes for Sale

Supply and Demand

And not that this is bad news. The law of supply and demand makes it so the decreased supply causes an increase in demand and with it an increase in prices, as you will see from the graph below.

In addition, depending on price range it can also bring nirvana to any seller, multiple offers which often exceed asking price.

PPAR Average_Median Sales Price Chart dec 2015

Overall, the Colorado Springs real estate market is not only alive and well, but awaits your participation and the professionals at realestatesupermarkets.com are standing by to be of service with down payment assistance, referrals to quality lenders and service providers, as well as investor financing. Contact us anyway you can and let's get it started.

 

What Do You Actually Need to Get a Mortgage?

Fannie Mae recently released their “What do consumers know about the Mortgage Qualification Criteria?” Study. The study revealed that Americans are misinformed about what is required to qualify for a mortgage when purchasing a home.

Source: What Do You Actually Need to Get a Mortgage?

 

012116 Hot Properties

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