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Julie Montgomery's Blog

By Julie Montgomery | Agent in Denver, CO
  • Julie Montgomery, RE/MAX Masters, Inc. introduces "little knonw" fact about low down payment loans for home buyers

    Posted Under: General Area in Highlands Ranch, Home Buying in Highlands Ranch, Home Selling in Highlands Ranch  |  January 27, 2013 3:09 PM  |  274 views  |  No comments

    Local real estate expert Julie Montgomery with RE/MAX Masters, Inc., surveyed over 5,000 renters in Littleton and Highlands Ranch, Colorado. The results were eye-opening, according to Montgomery.

    "I wish I could talk to every renter in the Denver Metropolitan area to let them know they can buy a house with a 3.5% down payment," said Montgomery. "The survey conducted confirmed what I have suspected for years: most first-time home buyers still think they need a 20% down payment before they can buy a home.

    The cost of renting vs. buying has changed dramatically over the past few years, said Montgomery.

    "Many people have lost their homes since the market crashed in 2008, which has created a shortage of rental properties and much higher rental fees," she said. "In many cases, it's much less expensive to own a home than it is to rent one."

    FHA loans benefit people who want to own their own homes but cannot afford a 20 percent down payment. These mortgages require mortgage insurance, but the cost is spread over 30 years making the monthly payments more affordable."

    Because the down payment requirement is just 3.5 percent, FHA loans require the buyer to pay mortgage insurance, which financed into your loan with no cash requirement from the home buyer. The monthly insurance is included in the monthly payment for a minimum and automatically drops off after five years.

    "I wished I could talk to every renters who is currently paying at least $1,000 a month for rent," said Montgomery. "For example, potential buyers using FHA's low-down payment financing could purchase a home -- with just 3.5 percent down -- and pay the same or less than what they're paying their landlords." said Montgomery.

    For more information about purchasing a home in Denver and its surrounding suburbs, contact Julie Montgomery, RE/MAX Masters, Inc., directly at 303-906-3150 or email juliemontgomery(at)remax(dot)net.

    Julie Montgomery of RE/MAX Masters, Inc. is ranked as one of the top producing real estate brokers in the Mountain States Region (Colorado, Arizona, Utah, New Mexico and Wyoming.) You can contact Montgomery at (303) 906-3150 or juliemontgomery(at)remax(dot)net



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  • First-time Home Buyers -- Buy a Home with just 3.5% Down

    Posted Under: Home Buying in Highlands Ranch  |  July 8, 2012 4:24 PM  |  174 views  |  No comments

    One of the biggest misconceptions that prevents renters from buying a home is they don't realize they do NOT need a 20% down payment.  The truth is the majority of buyers only put 3.5% with an FHA loan.

    A couple of things to know:

    1.  Realtors are ALWAYS free to buyers -- seller's pay our commission fee.
    2.  The first step toward buying a home is talking to a "local" lender.
    3.  You can buy your first home for as little as $1,000 down.
    4.  Interest rates are under 4%, which is the lowest ever recorded in history.
    5.  These rates WILL go up -- it's just a matter of time.

    If you have questions or would like more information, please contact me.  Julie Montgomery, RE/MAX Masters, Inc., 303-906-3150, jmontgomery@coloradomasters.com or www.jmontgomery.com.

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