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QUESTION: Will I owe more than my house is worth with a reverse mortgage, and leave my children with a huge debt.
November 4, 2018
QUESTION: I do not have enough to put down to buy a home right now. What options are out there for a middle income person who wants to buy a home?
December 1, 2018

QUESTION: I live in Colorado and want to know how much down do I need to buy a house. I know there are programs out there, but not sure which is the best one for me.

Happy Family on Their Front Porch

Answer:

There are several ways to put less or minimum down to buy a home in Colorado.  If you have served in the military, you may be eligible for a VA loan.  VA loans do not require a down payment!  Another program used in targeted rural areas is USDA.  USDA loans allows you to finance the costs and fees up to 100% of the appraisal value.  If you do not fit one of those programs, there are many down payment assistance programs out there.  Many are specific to their city/county, but CHFA Colorado Housing Finance Authority covers the whole state.  In most cases the minimum needed to buy a home would be $1000.

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