Category Archives: Mortgages

Mortgage Down Payment Assistance in Colorado

Down payment assistance is becoming a better deal through the Colorado Housing and Finance Authority (CHFA). To compete with some of the down payment assistance bond programs that are out there, CHFA is changing their down payment assistance second mortgages to grants. They will no longer need to be repaid!

CHFA is also removing the purchase price limits.  You will still be limited to the county limit for the county your home you are purchasing is located in. These changes go into effect on 2/2/2015.  Please feel free to contact Dave Slater at Academy Mortgage for any info or questions!

Are Higher Interest Rates Hitting the Housing Market?

[This is a snippet of a blog post from Wall Street Cheat Sheet — we think you’ll find it very helpful!]

The real estate market is taking a breather from the recent rise in interest rates, but mortgage applications continue to decline. According to the Mortgage Bankers Association’s latest report for the week ended July 19, loan application Continue reading

News: Low Mortgage Rates May Not Be Here For Much Longer

While you may have become used to seeing mortgage interest rates at or below 4 percent, the age of historically-low rates may be coming to an end. In fact, the Mortgage Bankers Association (MBA), the national association representing the real estate finance industry, predicts 30-year mortgage rates to rise to 4.4 percent by the end of 2013. Continue reading

5 Tips For First Time Homebuyers

1) Establishing a Realistic Price Range
A common mistake among first-time home buyers is purchasing more house than they can afford. You should not rely on banks to determine what you can comfortably spend on a new home. Banks are adept at determining the amount of monthly debt in the form of mortgage, insurance, credit card, student loan and auto loan payments. Continue reading