We are moving from CA to Colorado - Colorado Springs to be exact. We were able to buy our first home here

Asked by Edie, SF Bay Area Thu Dec 27, 2007

with the Acorn loan mentioned in another post.) So we are not first time buyers however, I am disabled and by CA standards, we are considered low-mod. income. Not sure that we would be out in CO. Are there loan programs with good terms and no or low down payment for low-moderate income buyers who are NOT first time home buyers, particularly programs for the disabled? THANK YOU!

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, ,
Thu Sep 27, 2012
Good afternoon Edie,

Your question points to specific advice I give often here on Trulia.com: get a referral to a Local Mortgage Banker in the area where you wish to buy a home. Your Local Mortgage Banker will have the most intimate knowledge of local programs specifically designed to assist you in this situation.

Even though I'm answering this for you on the internet, I would strongly advise against working with an internet based Lender for such an important local scenario unless that Lender has a local brick and mortar office in the area where you wish to buy your home.

Trevor Curran
NMLS #40140
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Cathia Bell, Agent, Colorado Springs, CO
Sat Sep 22, 2012
yes- give me a call. I think I can help you find a house and hook you up with a lender who can get you into the right loan program

Thanks - 719-291-4676
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, ,
Fri Dec 28, 2007
Edie, let me add to my statement. Finding a "good" mortgage broker is the key: a good mortgage broker has more flexibility than a lender, but it will really depend upon your individual financial situation. It will not hurt you to check around with a few mortgage brokers, bankers or retail mortgage shops i.e. countrywide, wells fargo etc. to find the best loan program.

What most buyers do not understand is they should shop around! There are many differences in what lenders/bankers/ brokers can and cannot do. So it will be in your best interests to check around with a few local mortgage originators.
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Suzanne Walk…, Agent, Oklahoma City, OK
Fri Dec 28, 2007
We do have similar programs to those in CA. There are a variety of programs in CO starting at the local level all the way to the state level that work in conjunction with Freddie Mac and Fannie Mae loan products. Here are a few links:


In regards to being a first time home buyer; it will depend on the program and requirements. One program stipulates every 7 years you are a first time home buyer and others do not have a first time buyer requirement. Each program has different guidelines.

I would not randomly choose a mortgage broker, for multiple reasons, but for purposes of this answer because some of our programs require approved lenders. My experience has been the mass majority of brokers either are not approved or don't understand these programs and try to talk buyers out of using these loans. You need someone who understands these programs, who is approved to originate the loans using these programs and that can best fit the program which will be most suited to your financial interest.

We have the resources needed to make home ownership possible in CO.

Susan Walker
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, ,
Fri Dec 28, 2007
Almost every loan program is designed for those allowances: no-low down payment and low- mod income. Here's a few: FHA, USDA, MyCommunity (Fannie Mae), Home Possible (Freddie Mac)...

I love Colorado Springs... I was stationed at Ft. Carson (inside Colorado Springs) for over 2 years. Your best option is to find a good mortgage broker that will take care of you. Use the link below which is to the National Association of Mortgage Brokers - this will show you a listing of Mortgage Brokers in Colorado Springs.
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