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what prospective homebuyers should know about debt and income What is DTI? When you apply for a home mortgage loan, your lender will need to consider what existing debt you have before qualifying you.

This year, the cost of living has increased in many ways. In fact, in March 2022, inflation rose to 8.5 percent, representing the largest 12-month increase since 1981*. This can affect budgets and savings plans.

Manufactured housing options can provide an affordable opportunity for homeownership. In Colorado, there are more than 900 mobile and manufactured home communities, where more than 100,000 Coloradans live.

Being financially fit is important, especially for prospective homebuyers, and includes assessing and/or building your understanding of saving, earning, borrowing, investing, and protecting your money wisely.

When you buy a home, one of the most anticipated upfront costs is the down payment. Many believe they need to put 10 to 20 percent down, but that is not the case with many assistance options available.

On your homebuying journey, whether you’re doing research, going to a class, or speaking to an industry professional, you may come across many terms that are new or seem confusing.

2022 housing market forecast Given the state of Colorado’s housing market, it’s good for anyone who wants to become a homeowner to prepare for potential challenges and opportunities.

Homebuying in 2022? what to know Do your New Year’s resolutions include becoming a homeowner? If so, plan to take a free, CHFA-sponsored homebuyer education class if you haven’t already. This will help you feel knowledgeable and prepared

2021 market watch: home prices Home prices in Colorado are undoubtedly high and continue to increase. Currently the statewide median sales price is $525,000* but it may be interesting to know how prices vary across regions. If you have flexibility in wha

buying a home despite historically low inventory As a prospective homebuyer, you may have many ideas of where you want to buy and the type of home you want. In today’s market, where inventory—therefore selection—is limited in Colorado, the home search

eight steps to homeownership If you’re thinking about buying a home, you may be wondering: where do I start and what should I expect along the way? Here are “Eight Steps to Homeownership” to walk you through a high-level roadmap of the homebuying journey

what is “nontraditional” credit and how might it help you buy a home? To finance the purchase of a home, credit is a major component. Your credit report has information on how you borrow money, use credit, and pay it back—and therefore may show the

can I afford it? prepare for upfront and ongoing costs of homeownership Colorado’s high-priced housing market, many are crunching the numbers to figure out what they really may afford if they want to become homeowners. Consider upfront and monthly costs a

debunking down payment myths Sometimes, prospective homebuyers can be discouraged from pursuing homeownership because they think they cannot afford a down payment. There are significant up-front costs associated with homebuying, including the down payment

what lenders look for when qualifying applicants for a mortgage Knowing what to expect from working with a home mortgage lender can help make your road to homeownership much smoother. Qualifying for a mortgage loan depends on your current financial

Celebrate financial capability month by setting a goal April is National Financial Capability Month and serves as a reminder that we all have the potential to be financially empowered. If you’re interested in homeownership, your financial health is vital.

five tips to get "credit ready" for homebuying If you want to get a home mortgage loan, the strength of your credit history and credit score will play a key role. March is Credit Education Month and if you’re planning to buy a home in the near future,

decoding real estate listings Searching online for homes is a very common part of the homebuying process—in fact, 97 percent* of homebuyers searched online for a home in 2020. The pandemic has made virtual tools, listings, and showings even more necessary

market watch: home prices across colorado Home prices continue to steadily increase in many areas throughout Colorado and the current median home price in Colorado is $435,000*. Population growth in recent years, among other factors, has affected local