Denver is set to be recognized in whatever venue we can snag! First, DNC with our President Obama, the latest being "SportAccord". We are trying to get the Winter Olympics here, we can handle it!
It will be nice for the United States to see we really don't travel by stagecoach anymore! Some still wear boots though!
Denver is a GREAT place to live, raise children and enjoy our 300+ days of sunshine!
Joan Cox
Metro Brokers - Turning Point RE
Centennial, CO 80111
720-231-6373
www.JoanCox.com
Tuesday, March 24, 2009
Saturday, March 14, 2009
CHFA Home Loan Programs
Colorado Housing and Finance Authority has new home loans to assist those homeowners struggling with this recession. CHFA provides loans to low and moderate income home buyers at low interest rates.
CHFA just announced a couple new programs - HomeOpener and HomeOpener Plus mortgages which are available to first time homebuyers and those who have already purchased at least one home already. They provide 30 year loans, fixed rates and down payment and closing cost assistance thru these programs, that will require the homebuyer to participate in a homebuyer education course at the authority.
There are some qualifying factors - borrower must have a minimum credit score of 580, and maximum debt to income ratio of 45%.
CHFA has done bond issues since 6/2008, raising $90 million. CHFA sold the bonds largely because of its good name with the capital markets. They continue to search for new lending products for rental housing and small businesses.
CHFA was originally created in 1973 by Colorado Legislature for affordable housing in the State of Colorado. The authority is a major provider of financing for single-family mortgages.
Joan Cox, GRI,CRS,ABR,e-Pro
Metro Brokers - Turning Point Real Estate, Inc.
Centennial, CO 80111
720-231-6373
www.JoanCox.com
CHFA just announced a couple new programs - HomeOpener and HomeOpener Plus mortgages which are available to first time homebuyers and those who have already purchased at least one home already. They provide 30 year loans, fixed rates and down payment and closing cost assistance thru these programs, that will require the homebuyer to participate in a homebuyer education course at the authority.
There are some qualifying factors - borrower must have a minimum credit score of 580, and maximum debt to income ratio of 45%.
CHFA has done bond issues since 6/2008, raising $90 million. CHFA sold the bonds largely because of its good name with the capital markets. They continue to search for new lending products for rental housing and small businesses.
CHFA was originally created in 1973 by Colorado Legislature for affordable housing in the State of Colorado. The authority is a major provider of financing for single-family mortgages.
Joan Cox, GRI,CRS,ABR,e-Pro
Metro Brokers - Turning Point Real Estate, Inc.
Centennial, CO 80111
720-231-6373
www.JoanCox.com
Thursday, March 12, 2009
Rocky Mountain News
The days of a "two newspaper" town are over! The Rocky Mountain News has now closed, and are left with The Denver Post as our only Denver newspaper (other than smaller city newspapers). The days of advertising in the newspaper and carrying high balances for these ads are coming to an end. With advertising our listings on the internet thru MANY sites, for no cost is truly the way of the future. For many years, home buyers have searched the many internet sites for their home - rather than poring over housing magazines or newspaper ads.
Joan Cox, GRI,CRS,ABR,e-Pro
Metro Brokers - Turning Point Real Estate, Inc.
Centennial, CO 80111
720-231-6373
www.JoanCox.com
Joan Cox, GRI,CRS,ABR,e-Pro
Metro Brokers - Turning Point Real Estate, Inc.
Centennial, CO 80111
720-231-6373
www.JoanCox.com
Applications for Mortgages SOARING
The uncertainty of our US economy has slowed home sales over the last 3 years - NOW, there is quite a surge of mortgage activity, which is a wonderful sign for a turnaround of our home sales! US mortgage applications jumped 11%, mostly consisting of first time homebuyers applying for their first home. With the tax credit given to these buyers, this will jump start the home sales, and give the "move-up" buyers the opportunity to move. Going into the spring, this is a good sign for a great housing season this coming summer!
President Obama has promoted hisHomeowner Affordability and Stability Plan, which is prompting these first time homebuyers to jump into the housing market with benefits around the corner on their next tax year. Many homeowners are refinancing due to very low interest rates. This is helping distressed borrowers avoid foreclosure. These interest rates are at historical low levels. For many homeowners to refinance, this will drop house payments up to $300 a month, depending on financed amount.
Joan Cox, GRI,ABR,CRS,e-Pro
Metro Brokers - Turning Point Real Estate, Inc.
Centennial, CO 80111
720-231-6373
www.JoanCox.com
President Obama has promoted hisHomeowner Affordability and Stability Plan, which is prompting these first time homebuyers to jump into the housing market with benefits around the corner on their next tax year. Many homeowners are refinancing due to very low interest rates. This is helping distressed borrowers avoid foreclosure. These interest rates are at historical low levels. For many homeowners to refinance, this will drop house payments up to $300 a month, depending on financed amount.
Joan Cox, GRI,ABR,CRS,e-Pro
Metro Brokers - Turning Point Real Estate, Inc.
Centennial, CO 80111
720-231-6373
www.JoanCox.com
Monday, March 2, 2009
Tax Credit for Homebuyers
first-time homebuyers who purchase in 2009 prior to November 2009 will have the opportunity to reap the benefits of a tax credit. Right now, it sits at $8000 or 10% of the value of the home tax credit. This is a CREDIT, not a tax deduction, which is money in your pocket! However, if the household income exceeds $150,000 for couples and $75,000 for single tax filers, you may not be eligible. If you sell the home within 3 years of purchase, this credit may need to be repaid.
This tax credit may only be used on primary residences, cannot be used for investment properties. This can be used for single detached homes, townhomes, or condos and manufactured homes.
The loan limits have now been raised -between $417,000 and $729,750, you can obtain an extension on the additional tier of conforming loan amounts. These loans will be eligible for rates that are slightly higher than conforming rates, but less expensive than the standard jumbo rates. This is good news for the $500,ooo-$700,000 price range!
Joan Cox, GRI,ABR,CRS,e-Pro
Metro Brokers - Turning Point Real Estate, Inc.
Centennial, CO 80111
720-231-6373
www.JoanCox.com
This tax credit may only be used on primary residences, cannot be used for investment properties. This can be used for single detached homes, townhomes, or condos and manufactured homes.
The loan limits have now been raised -between $417,000 and $729,750, you can obtain an extension on the additional tier of conforming loan amounts. These loans will be eligible for rates that are slightly higher than conforming rates, but less expensive than the standard jumbo rates. This is good news for the $500,ooo-$700,000 price range!
Joan Cox, GRI,ABR,CRS,e-Pro
Metro Brokers - Turning Point Real Estate, Inc.
Centennial, CO 80111
720-231-6373
www.JoanCox.com
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