Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in Colorado : Real Estate Advice

  • All258
  • Local Info17
  • Home Buying135
  • Home Selling26
  • Market Conditions8

Activity 2,279
Sat Jan 13, 2018
Lainatolson asked:
Tue Jan 9, 2018
Frank S. answered:
Hello A_cool_09, you may consider FHA or conventional depending on what the lowest middle scores are between all borrowers. You and you wife could be co-borrowers with your grandparents also as co-borrowers. A VA loan could not be utilized as all borrowers would have to be veterans.

You may consider 3.5% down FHA from a minimum 580 fico score and from 3% down conventional from a minimum 620 fico score. All qualifications will be determined by credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the purchase.

Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary. You will need to be pre-approved to be able to meet an agent to view and submit offers on any hones of your choice.

How much do you pay in rent and what is the maximum payment you are all looking to afford? If you figure out what cities/zip codes you are considering, minimum number of bedrooms, baths and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria.

You will need to gather paystubs/income documentation, bank statements, tax returns and copies of your drivers license/ID and social security cards. Check out the web reference link below...
... more
0 votes 1 answer Share Flag
Mon Jan 8, 2018
Sally Grenier answered:
Where did you get that figure? I seriously doubt it's that high. It's true that some homes are sold "off market" because agents network with other agents, but it's really not in the seller's best interests to sell without being marketed in the MLS. If you're a buyer, then your best bet is to hire a REALTOR as your Buyer's Agent. It really doesn't matter what brokerage they work under. Every agent has access to every listing via the local MLS. You want to find someone who you connect with, who has a good track record of getting deals done and having happy customers. You can try asking around to family, friends or co-workers and get a referral. Or, give me a call, I'd be happy to help you. :). I've been in business for 10 years and have helped hundreds of buyers and seller successfully buy and sell in the Boulder County area. I used to work for a big brokerage, but decided to become independent 7 years ago when I realized they were just taking a large chunk of my commission and not really providing any real value to my clients. Any agent who has access to BOTH MLSs can help you find a home. And a good one will go "above and beyond" to find the right place for you.

Sally Grenier
Broker Owner
Grenier Real Estate
sally@sallygrenier.com
303-475-4508 Cell
... more
0 votes 1 answer Share Flag
Tue Jan 2, 2018
Rookteresamarie answered:
All basic answers sound good, HOWEVER, check with an Elder Care Attorney. If your mother is ever in a position to require Medicaid, Title 19, complications arise with a quick deed or transfer of property. Check with an attorney in your state who specializes in Elder Law. ... more
0 votes 14 answers Share Flag
Mon Jan 1, 2018
Kathy Burgreen answered:
The time to buy is when you feel comfortable financially that you can afford to pay a monthly mortgage, property taxes, unexpected and regular maintenance costs, homeowners insurance + your regular monthly expenses.

You should contact a mortgage lender and have him/her pull your credit and see if you are qualified now. Ask to be pre approved as this guarantees a lender will give you a mortgage provided there are no major changes after you apply. Start with your own bank first since you're already a customer. You will have plenty of time later on to shop around for different rates, fees, etc.

Realtors will ask to see a pre approval from a lender before they will show you any homes. The reasons are that sellers don't want buyers walking thru their home unless they have proof they can afford to buy that home; realtors don't want to waste their time or yours showing you homes that you cannot afford; realtors practice safety - they want to know who the buyers are.
... more
0 votes 1 answer Share Flag
Mon Jan 1, 2018
Daniel Philips answered:
You can get this on http://agentsdeal.com where you have to put all your requirements and you have to pay only for those services which you will take from selected discount buyers agents.! ... more
0 votes 24 answers Share Flag
Thu Dec 28, 2017
Kathy Burgreen answered:
I'm confused by your question. If you have job offers, that means you don't have a job yet in CO otherwise you would have stated you will be starting a job on a specific date. How can you have W2's unless those W2's are from your current job where you live now. If that is the case, those W2's don't mean anything because it's not related to a job in CO. So nobody will accept a W2 from a previous job. Whether you rent or buy, landlords and lenders need a CURRENT source of income. That means from a job in CO which I don't think you have yet. ... more
0 votes 2 answers Share Flag
Wed Dec 27, 2017
Peter Lamberti answered:
This is the worst place in the entire state of Colorado to live. The people that live here are racist, homophobic and hate anyone who is not white. I would absolute recommend that you never move or buy a house in this area of Colorado. The worst of the worst is Castle Pines North and development of the Retreat is a total getto with multiple home break ins, over 20 cars stolen or broken into over the last year. Lastly, the home owners association and property management abuse their power and use this power to remove those that don't fit into their white world. Avoid this place like the plague as there are much better places to live. ... more
0 votes 9 answers Share Flag
Sun Dec 3, 2017
Melissa Blevans answered:
Fast forward to 2017-2018. I have the same exact question as the one stated above. What has changed and are there any new recommendations?
0 votes 11 answers Share Flag
Thu Nov 16, 2017
Unspecified asked:
Tue Nov 14, 2017
Frank S. answered:
Hello Kathleenherring198225, yes you may consider FHA 3.5% down FHA from a minimum 580 fico score and 3% down conventional from a minimum 620 fico score. Since all lenders go by the middle score of all three bureaus there are other unknown scores. If you have lower scores between 500-579 you may consider 10% down FHA.

Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms, baths and the maximum payment/price you are considering you can be emailed listings to fit your criteria.

The purchase in Fort Collins start from 275k for 2bd 1ba single family home. The condos start from 189k for 2bd 1ba and the 55+ community homes start from 141 for 2bd 1ba. Check out the web reference below...
... more
0 votes 1 answer Share Flag
Sat Nov 11, 2017
Scott Godzyk answered:
Seeing deadlines are not law and set by the seller or agent, there is no reason they can not look at, discuss, counter or accept an offer as it comes in. If the seller wants to sell. They should be negotiating out the offer. Your agent needs to press for answers ... more
0 votes 1 answer Share Flag
Fri Nov 10, 2017
Angelica P answered:
Hi Kayla,

We have closed your Trulia profile on your behalf.


Thank you for using Trulia,
Angelica
Consumer Care
0 votes 1 answer Share Flag
Sat Oct 28, 2017
Alan May answered:
It certainly would, if both parties agree and sign. It's called "third-party-approval".

Once the spouse approved the property, that contingency would be removed, and the contract would move forward. ... more
0 votes 1 answer Share Flag
Thu Oct 26, 2017
Angelica P answered:
Hi,

We have unsubscribed your Trulia profile as you requested.


Thank you for using Trulia,
Angelica
Consumer Care
0 votes 1 answer Share Flag
Wed Oct 25, 2017
Kathy Burgreen answered:
V.B. Adding more information to educate you a bit...Typically in very expensive housing markets (New York City, San Francisco, Washington, D.C., etc.) realtors tell buyers upfront that buying a cheap or foreclosed home is not realistic and the odds of getting one is 0. Since I was a realtor in the NYC area (extremely expensive), I also had to tell buyers to sacrifice and instead of getting a house, the only thing they could afford was a condo or a coop.

Based on your situation I’m getting the idea that Denver is now one hot and expensive housing market. Unfortunately you need to be realistic and if your approval is much less than what the average house sells for, then you need to start looking at condos, manufactured homes, etc. because this is all you can afford. I hate to say it but buying a single family house is not going to happen. Sorry.
... more
0 votes 6 answers Share Flag
Mon Oct 23, 2017
Densilucy answered:
IRA has clear guidelines regarding withdrawing IRA or 401k money for a home down payment. There is a limit to the amount you can use to buy a home. You will have to pay income tax on it and a 10% penalty. It must be your first home. Your plan may have additional restrictions.

Check out the latest guidelines regarding using a 401K loan here: http://downpaymentguide.org
... more
0 votes 103 answers Share Flag
Thu Oct 19, 2017
Kathy Burgreen answered:
If your brother needs financing from a lender, he needs to know that lenders will contact to verify employment and income the day of closing or the day before. Therefore, if your brother is getting laid off, his employer will tell the truth to his lender. The lender will cancel the loan and refuse to finance the home. When your brother has a new job, then he can apply for a loan. ... more
0 votes 1 answer Share Flag
1 2 3 4 5 6 7 ...
Search Advice
Search

Followers

90