FHA CHANGES ARE COMING
April 1, 2013
As of April 1, loans submitted to FHA will have an increase in the annual mortgage insurance premium from 1.25% to 1.35%.
This translates into a payment difference of about a $16 increase on a $200,000 loan.
Additionally, it will mean a difference of about $3,000 in the amount a buyer will be able to qualify for.
June 3, 2013
Loans applied for and submitted to FHA as of June 3, 2013, will see a dramatic change for the worse for borrowers: The Mortgage Insurance Premium will be charged for the life of the loan – it NEVER stops.
Right now, the mortgage insurance premium is cancelled after 5 years or when the loan to value reaches 78 per cent.
Some FHA changes have little impact. This FHA change is huge. HUGE. Borrowers will be paying thousands more on an FHA loan.
Complete information from HUD can be found in the link below:
http://portal.hud.gov/hudportal/documents/huddoc?id=13-04ml.pdf
If you are looking to purchase a home with an FHA loan then take careful note of these FHA Changes and the dates the changes are happening – so plan accordingly!
The DOD (Department of Defense) has increased the Basic Allowance for Housing for 2013
Most active duty personnel will receive larger monthly amounts in 2013 than they received in 2012, to apply towards their VA mortgage payments and other housing expenses.
The decision is effective as of January 1, 2013. Active Military will receive a BAH increase of 3.8% on average.
The change is positive news that is being welcomed thru out the military since VA mortgage rates are anticipated to continue to increase through 2013, in spite of the Fed’s continued efforts to keep rates lower.
What Is the Basic Allowance For Housing?
The Basic Allowance for Housing is a monthly, non-taxable allowance, paid to active duty military members.
Formerly known as the BAQ – this housing stipend is necessary and helpful to those military members serving our country, in addressing housing costs needs.
Basic Allowance for Housing is determined by average housing costs, which is reviewed annually from data received by a nationwide property manager database. Data is taken into consideration to make final determinations from real time rental rates for all residential types as well as other data received from an annual Census Bureau publication.
The BAH is payable to active military personnel in non-government quarters on a monthly basis. There are three criteria that will determine the amount of the monthly allowance for an active military individual’s BAH:
- Dependents in the family
- Pay grade
- Location
Military personnel with greater rank and/or who live in higher cost of living areas receive an increased Basic Allowance for Housing.
The 3.8% average increase in the Basic Allowance for Housing should help military personnel nationwide to offset their rising housing costs. A welcome relief for many in these uncertain times.
Down Payment Assistance with New El Paso County Program available
We are happy to bring this Down Payment Assistance program to your attention. This County program has great eligibility requirements that fit Military relocations, first time home buyers, move up or move down buyers. This is a wonderful opportunity to attain home ownership.
Below, read some of the details of the El Paso County program regarding eligibility.
Down Payment Assistance:
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Assistance cannot exceed an amount equal to 4.00% of the principal amount of the mortgage loan to eligible borrowers.
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Down payment assistance is a grant and is not repayable by the borrower.
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Any down payment assistance shall only be applied to the down payment on the mortgage loan and closing costs.
Eligibility Requirements:
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Minimum 640 borrower FICO score
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Borrower income limits are as follows: $88,900 for a two member household and up to $103,700 for a three member or more household borrower
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Maximum home purchase price of $283,000
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No first-time homebuyer requirement
Types of Loans eligible for down payment assistance:
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VA
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FHA
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USDA
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30 year fixed loan terms
Rock Bottom Pricing on this Short Sale Home for Sale located at 121 Norman…
Don’t miss this short sale home for sale…totally beautiful…Investors take a look!
http://listings.realbird.com/W6U7M3W6/171391.aspx
This Short Sale Home for sale has the beauty you need and the value you are looking for.
See it today!
Fort Carson Commissary is now open for Business
The Fort Carson Commissary is now open- it opened its doors on May 9th, 2012 – have you been there yet? As Your Military Relocation resource of choice, (Colorado Springs Short Sale Agent) and as an Army retiree, I visit the Fort Carson commissary quite frequently. Military families PCS’ing into or out of the Mountain Post will definitely find this information very worthwhile in the process of relocating their families. Great shopping, great services and great location.
Yeah. This has so been worth the wait!
The new Fort Carson commissary sales shopping area was increased by 42% over the old commissary. It will now accommodate in excess of 115,000 active duty, Guard and Reserve, retirees and family members in the community. The total square footage of the facility exceeds 122,000 square feet, has 28 checkout registers, stocks more than 2,100 grocery items and expectes annual sales will top $60 million. The Post Exchange, Commissary, hospital and other facilities offer a broader range of services for soldiers, family members and retirees to take advantage of.
Fort Carson Commissary: http://www.commissaries.com/stores/html/store.cfm?dodaac=HQCMCA
Peterson AFB Commissary: http://www.commissaries.com/stores/html/store.cfm?dodaac=HQCMCE
Ft Carson Commissary
Fort Carson is planning to welcome a new Combat Aviation Brigade in 2013 which will increase the military presence in the Colorado Springs area by at least 2,700 troops between 2013 and 2015. The number of family members accompanying new arrivals will increase at a minimum of 4,000 people (Source: Fort Carson Public Affairs and Plans, Analysis and Integration Offices).
On-Post housing construction continues to expand for officers and enlisted members alike. Members and retirees wishing to relocate to off-post housing or wanting to sell their current home will find me here in Colorado Springs, standing by to assist. Contact me today for a personal tour of the commissary or any homes you want to see. Charles@AngelRealtyGlobal.com – write to me if I can be of help.
So now that the Fort Carson Commissary is now open for business – come in and take a look – you will like what you see. I will be shopping there myself so if you see me – come say hi – hope to see you there!
Fort Carson Commissary
Peterson AFB Commissary
Colorado Springs Luxury home for sale Ranch style on 5 acres
Owner says sell in Corral Valley Bluffs Homes for Sale
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Overview Maps Photos Features Description |
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Charles E Walk
Angel Realty, LLC
(719) 640-8648 Charles@AngelRealtyGlobal.com http://ColoradoSpringsShortSaleAgent.com
Listed by: Charles Walk |
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Our recent listings
Owner has lowered the price again on this Short Sale
Windmill Masa’s Finest Short Sale Corral Valley Bluffs Homes for Sale 1403 Royal Troon Dr
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Colorado Springs Short Sale Home for Sale at 7325 Woody Creek Dr is available at a great value
Look at this Colorado Springs Short Sale Home for Sale at 7325 Woody Creek Drive…
Angel Realty, LLC, is offering this outstanding short sale value in the Fountain Valley area, just listed, at a great price – check out our MLS# 769439.
Just listed in Widefield – Colorado Springs Short Sale Homes for Sale – being sold in it’s “as is” condition. This is a home that requires little cosmetic fixing and is large enough to welcome family living.
7325 Woody Creek can be bought for some of the lowest interest rates available since 1930 – making it more affordable than renting.
7325 Woody Creek Dr, C/S, CO 80911
7325 Woody Creek Dr, C/S, CO 80911
This tri-level home is located in the Fountain Valley community of Widefield and is close to Fort Carson, Peterson AFB, I-25 and the Colorado Springs International Airport.
7325 Woody Creek Dr is located in Sierra Ridge, a neighborhood that boasts highly desirable grade schools and conveniently near the Mesa Ridge Shopping Center.
Colorado Springs Short Sale Home for sale at 7325 Woody Creek Dr is offering:
* Kitchen appliances
* Carpeted floors
* Ceiling fans
* Central Air Conditioning
* Generous back yard
7325 Woody Creek Dr, C/S, CO 80911
7325 Woody Creek Dr, C/S, CO 80911
Minutes from all the places you want to go, this low-priced Colorado Springs Short Sale Home for Sale is perfect for the first time home buyer or those looking for a great opportunity to buy right now. Call Charles Walk, your Colorado Springs Short Sale Agent Expert and Military Relocation resource, to see this excellent value at 719-640-8648.
Offered at $118,000
Colorado Springs Short Sale Homes for Sale
Colorado Springs Home Market Info for April takes a positive turn in 2012
Colorado Springs Home Market Info indicates a positive turn of events in April, with the numbers showing an increase in the “For Sale” inventory over March inventory.
Home sales show a favorable jump in most areas in April – signs show a decisive upward trend in sales for the Spring selling season for all homes for sale in Colorado Springs.
As your Colorado Springs Short Sale Agent and Military Relocation resource, you can count on current information and changes as they happen.
It is important to know the direction of the Colorado Springs Home Market Info inventory of “Homes For Sale”. Knowing if the market is expanding or contracting can help you keep a good eye on the pulse of the market.
Colorado Springs Home Market Info –For Sale 04/2012: 2200
- Average days on the market: 106
Price Range: $35,000 – $4,000,000
Homes sold in Colorado Springs in 04/2012: 1435
- Average days to sell: 91
Price Range: $15,000 – $1,665,000
Colorado Springs Short Sale homes for sale 04/2012: 167
- Average days on the market: 122
Price Range: $35,000 – $850,000
Short Sale Homes sold in 04/2012: 132
- Average days to sell: 151
Price Range: $55,000 – $1,200,000
Short Sale Homes Under Contract 04/2012: 320
- Average days on the market: 177
Price Range: $42,500 – $1,295,000
Homes Sold in Colorado Springs for April took a 220% jump over March home sales.
Colorado Springs Short Sale Homes for Sale decreased by 15%, while Short Sale Homes Sold increased by 215%.
Keeping track of market activity in Colorado Springs Home Market Info For Sale thru this report can help you determine the pace and direction of the housing recovery.
Take another look at the numbers in this Colorado Springs Home Market Info report for April – it has definitely turned positive. Continued low interest rates help stimulate buyer interest tremendously.
Colorado Springs Short Sale Agents can help you protect your interest in the market. Call me if you need short sale help. Choose an experienced Colorado Springs Short Sale Agent Realtor to give you the help you need to avoid foreclosure.
Colorado Springs Home Market Info
Colorado Springs Home Market Info indicates upward pace for March of 2012
Colorado Springs Home Market Info indicates an upward pace in March with the numbers showing an increase in the “For Sale” inventory over February inventory.
Home sales continues to show modest improvements in all areas in March – a positive sign for the Spring and summer selling season for homes for sale in Colorado Springs.
As your Colorado Springs Short Sale Agent and Military Relocation resource, I’ll continue bringing you the changes when they happen. Soldiers are continually moving their families in and out of Colorado Springs. For military relocation purposes, this information can be vital in their family planning. Colorado Springs Realtors are keeping you informed as changes happen -making your plans easier.
Knowing if the Colorado Springs Home Market Info inventory of “Homes For Sale” is expanding or contracting is important. The following numbers give a clearer picture of the behavior of the housing recovery in the Colorado Springs area.
Colorado Springs Home Market Info –For Sale 03/2012: 2156
- Average days on the market: 109
Price Range: $35,000 – $4,000,000
Homes sold in Colorado Springs CO in 03/2012: 444
- Average days to sell: 97
Price Range: $32,000 – $1,500,000
Colorado Springs Short Sale homes for sale 03/2012: 196
- Average days on the market: 126
Price Range: $40,000 – $950,000
Short Sale Homes sold in 03/2012: 42
- Average days to sell: 153
Price Range: $61,100 – $760,000
Short Sale Homes Under Contract 03/2012: 301
- Average days on the market: 175
Price Range: $42,500 – $1,295,000
Homes Sold in Colorado Springs CO for March showed a small increase over February home sales. Short Sale Homes Sold and Short Sale Homes Under Contract continue to be a notable part of overall area sales.
Keeping your finger on the pulse of the Colorado Springs homes for sale market thru this report gives you a look at the pace of housing recovery taking place. As a military retiree and your Military Relocation resource, living in Colorado Springs, keeping you knowledgeably informed is the goal.
Looks like we are getting that Colorado Springs selling season fully underway!
Colorado Springs Short Sale Agents can help you protect your interest in the market. Call me if you need short sale help. It is important that you choose an experienced Colorado Springs Realtor to represent your interests if you have to sell your home thru the short sale process to avoid foreclosure.
Colorado Springs Home Market Info
How can you know if you qualify for a VA loan in Colorado Springs?
As your Military Relocation Resource in Colorado Springs, I can help you determine if you have the option of purchasing a home with a VA loan. A VA loan gives you several strategic benefits that can help you attain home ownership. One of those benefits is the no down payment requirement. Another benefit is that there are no monthly mortgage insurance premium payments required.
VA eligibility guidelines lay out qualifying terms that can help you determine whether or not a VA loan can be a choice for you, as a would be homeowner who is actively engaged in the military.
VA guidelines lay out qualifying terms based on how long a veteran has served in the military:
- The Active duty vet must have served a minimum of two years to be eligible
- Veterans who have been discharged must have served a minimum of two years
- National Guard or those in the Reserve must serve six years to be eligible
- Military who have been called up to active war time duty must serve 90 days
If you are looking to take advantage of low interest rates and homes priced low enough to be more affordable than renting – give me a call. I can walk you thru the process to help you find the home you need, at the price you want, with a VA loan designed to ensure the most affordable payment terms you can rely on.
As your military relocation resource in Colorado Springs, and retired military, you can feel confident that your home search will be more than successful with me helping guide you through the home purchase and VA loan process.
Military Relocation Services
How can you know if you qualify for a VA loan?
