Mortgage Tips

Discussions and articles about home mortgage issues in Colorado Springs.

Found 4 blog entries about Mortgage Tips.

8 Steps To Get Out Of Debt And Buy A House

This is a guest post from our friend and fellow real estate professional, Tony Mariotti, founder of RubyOne Mortgage Company.

Ask a loan advisor or real estate agent what they find satisfying about their career, and many will say how rewarding it is to help people buy their first home. If you ask those same professionals about the biggest challenges for first time home buyers, and they’ll bring up two sticking points:

  1. Buyers often carry too much debt
  2. Buyers don’t have enough cash saved for a down payment.

These are two sides of the same coin. If you want to buy your first home, the goal is clear: get rid of debts that create a drag on your ability to save up for a down payment.

Mentally, we all know we shouldn’t spend more than we

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Is Your Tax Strategy Sabotaging Your Ability to Buy a Home?It's almost the start of another year, which means that tax season will be upon us shortly. Many people will be planning the best ways to structure their income tax to pay as little money out of pocket as possible. This may backfire on you if you plan on purchasing a house with a mortgage in the next few years though. Are you one of the many Americans who claim as many income tax deductions as possible? If so, you will definitely want to continue reading this article to find out how effective your tax strategy may be.

A while back, I had some clients who wanted to buy a house in Fountain, CO. They contacted me to get started with the home buying process. The first step in this kind of relationship is to make sure that they can get pre-approved for a

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August 2014 Colorado Springs Real Estate Market Report

The Colorado Springs Real Estate Market is Sending Mixed Signals

According to the new data released by the Pikes Peak Association of REALTORS®, the Colorado Springs real estate market is sending mixed signals. Let's take a look:

August 2014 Colorado Springs Real Estate Statistics

  • New Listings: 1,422 (Down -2.8% from last year)
  • Sold Listings: 1,111 (Up +0.5% from last year)
  • Total Active Listings: 4,104 (Down -3.5% from last year)
  • Average Sales Price: $258,398 (Up +3.7% from last year)
  • Total Under Contract: 1,933 (Up +8.1% from last year)
  • List To Sold Price Ratio: 98.2% (Up +0.2% from last year)
  • Days on the Market: 84 Days (Down -8.7 from last year)

All of the numbers above point to a strong housing market that

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Don't Be Afraid of the Mortgage Loan Process

The first step in the home buying process is to determine how you are going to pay for the home. Most of us do not have enough cash to purchase a home without a loan (unfortunately), so we have to find someone to lend us the money. This is intimidating for many of us, so we put off the home mortgage pre-approval process until the last minute.

This can lead to disappointment if we spend many hours looking at homes and planning our future living situation, only to be let down by a loan officer later on. However, there really is no need to feel intimidated. The mortgage loan pre-approval process is not difficult.

Local loan officers in Colorado Springs are very excited to gain new clients. When you approach a loan officer to discuss your mortgage

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