Find out what down-payment assistance programs you may qualify for!
Hard Money Made Easy
At Axiom Funding Group, we are always looking to bring additional value in the form of quality partnerships and are happy to announce a new partnership with a private money lender.
Fix and Flip
- Nationwide
- Max LTV 90% of Purchase Price and 100% of rehab funds
- 65% ARV
- 2+ Points
- Property Types: 1-100 Units, (Mixed Use in North East)
- Minimum Loan Size is 150K
- Rates from 8% -11%
Rental Program (Stated Doc)
- 3 Year, 5 year, 7 year, 10 Year ARM or 30Year Fixed
- Rates from 5.5% to 8%
- Max LTV 70% Cash-Out
- Max LTV 75% Rate and Term
- Points 2+
- Nationwide
- Minimum Loan Size is 150K
- Blanket loans possible – Minimum 3 properties
Please contact us for your alternative lending needs at 719-453-8690.
Turnkey Mortgage and Down Payment Assistance
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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A Better Return on Investment
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According to Remodeling’s 2016 Cost vs. Value Report, you’ll recoup an average of 64% of what you paid for a renovation if you sell your home this year.
Return on Investment
We’ve previously discussed Return on Investment (ROI) about how much more (or less) than an asset’s cost it is (or will be) worth at resale. It went a little something like this.
OK. The same concept of ROI applies, perhaps but not always on a lesser scale, to the effect of improvements made after purchase to the resale value of that asset.
Many (not all) buyers want gorgeous granite, jacuzzi tubs, bedroom fireplaces and similar creature comforts. And where these add great value…prestige, will they amount to a dollar for dollar increase in financial value? It depends.
Remodeling Values
It’s never good to have the most expensive house in the neighborhood. First, they can stand out like the a Taj Mahal near Quonset huts. Gaudy is definitely not good, IMHO. Worst, pride in ownership can be a bitter pill to swallow when no one cares how much that Italian marble tub cost. When it comes to comparable values, a tub’s just a rub-a-dub-dub. Sorry, couldn’t resist.
Quickly. What is relatively worth more, adding attic insulation or a bathroom that will relieve congestion come school time? Before we tell it, understand you’ll recoup about 67% of improvements on average. Drum roll, please…
Attic insulation, by a long shot of 2:1. Sad but true. 
Rehab Loans – Pennies from Heaven
So be careful what you ask for, you might not get it. Unless it’s help to pay for remodeling projects on that would be perfect home were it not for the host of improvements needed to make it your castle, whether necessary or not.
With Fannie Mae’s and Freddie Mac’s HomeStyle Renovation and FHA’s 203k loans, it is relatively easy to turn that ugly house into the nosy neighbor’s bane of existence.
Energy Efficiency Assistance
How about we add energy efficiency upgrades to our efforts and receive up to $8,000 in help to do so?! This is HOT! No pun intended. Learn more here.
Thanks for reading. Let us know how we can help?
Energy Efficiency Assistance
Energy Efficiency Assistance
As an incentive for new and existing homeowners to buy homes with high energy efficiency ratings or make upgrades (furnace, insulation levels, windows, etc.) to an existing home, the state of Colorado is offering up to $8,000!
Qualifications
- New or existing homes (existing homeowners OK)
- Lender must reserve the incentive amount before closing
- Energy upgrades completed within 120 days of purchase
Additional Down Payment Assistance Programs
There are hundreds, if not thousands of extra programs that help with adapting homes for folks with disabilities, down payment. closing and other costs. Check them all out here!
Eight Steps To Saving For A Down Payment
Don’t worry—we’ll do the painful math for you so you know what splurges to kick to the curb in 2016.
Time To Save For A Down Payment?
Depending on where you are in the country, it can take over 10 years to save for a down payment. Here are some 
things you can do to cut that time down considerably:
- $ 876 savings – Skip the latte
- $ 696 savings – Cut the gym membership
- $1,189 savings – Cancel cable TV
- $ 100 savings – Drop a streaming service
- $ 300 savings – Lower smart phone plan
- $1,714 savings – Pack a lunch
- $3,168 savings – Cut out drinking alchohol
- $1,354 savings – Cut the dry cleaning bill
$9,397 total savings!
Yes, with a lot of focus (and sacrifice), it’s possible to save close to $9,400 to use for the all important down payment for your home purchase. But, why?
Down Payment Assistance
Many don’t realize there are assistance programs that can cover:
- Down payment
- Closing costs and prepaids
- Energy efficiency upgrades
- Disability adaptability upgrades
- And more!
And the truth is these programs are available in most areas, sometimes regardless of income!
As home buying advisors, we pride ourselves on our dedication to helping anyone who wants to own a home with that goal.
Contact us today for your personalized consultation!
Commercial Finance – NPV/IRR
Want to better understand the difference between NPV and IRR?
Source: Understanding the Difference Between NPV and IRR
Are You Thinking About Buying a Home?
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The process of buying a home can be overwhelming at times, but you don’t need to go through it alone.
Buying a Home – Helping many buyers and sellers to successfully transact real estate, we offer this comprehensive guide to buying a home this winter. With information including four great reasons to buy a home today instead of waiting, what will happen to interest rates, whether it’s better to buy or rent, and more, the experts at the Axiom Realty Team are standing by to help and not in the traditional sense either.
After many years of institutional lending experience as a mortgage loan officer for major banks, we are experts at helping both buyers and sellers understand the lending side of things, a crucial part of the process. Still active in non-owner occupied lending circles, we are also able to help with hard and private money, business lines of credit, lease options, land contracts…whatever it takes to make the deal happen.
Partner with us and work with the finest professionals in the title, insurance, remodeling and other related service providers to make sure everything comes together smoothly and efficiently.
If you are thinking about buying a home, be it this winter or next summer, we are here to help. Please subscribe at the top left of this page and/or ask for your personalized consultation via the contact form at the bottom right. We’ll work together with you to make it happen.
Thanks for reading. See you on the other side!
What Credit Score Do You Need To Buy A Home?
In a recent article by the Wharton School of Business at the University of Pennsylvania, it was revealed that some millennials are not looking to buy a home simply because they don’t believe they can qualify for a mortgage.
Source: Millennials: What Credit Score is Needed to Buy a Home?
The question, what credit score do I need to buy a home is a difficult one to answer because, dependent on numerous factors, not the least of which being the type of buyer, the answer can run the gamut.
For example, if you are a traditional first time home buyer seeking institutional lending rates (high 3% to low 4% as of this writing), you’d be hard pressed to qualify with anything less than a 620 yet, are there exceptions? Of course there are.
On the other hand, if you are an investor, the distinction being one that will not occupy the home as their primary residence, or someone with difficulty qualifying for more traditional lending, then you may not need any credit at all depending on how much you can buy it for versus how much it’s worth, repairs, and the like.
Perhaps most important is the question not asked meaning, contact a local professional with your desire, wants/needs and qualifications (or lack thereof) and let us sort it out. That’s what we do. Until then, all the best!
Norberto Villanueva is a licensed broker and experienced loan officer offering full service real estate and related services in Colorado Springs and surrounding areas. Contact Norberto at 719-453-8690 for a free consultation or by submitting a request in the lower right hand section of this page.
Mortgage Interest Rates Over 4%?!
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Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Along with Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors are all calling for mortgage rates to continue to rise over the next four quarters.Th
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