Colorado Springs Real Estate - Colorado Springs Homes

Colorado Springs real estate listings are readily accessible on this site that also includes a FREE relocation cd offer & complete relocation guide.
This is your source for the most current Colorado Springs real estate information and for receiving help from experienced Colorado Springs REALTORS.

The 3S Approach

-The Setup

Types of Agents
How to Select an Agent
Prequalified or Pre-Approved
7 Reasons to buy a home
Moving with Teenagers

-The Selection

How to Find a Home
50 "Things To Watch"
when viewing a home
9 Types of Loans You Should Know

-The Sale

What is a Sales Contract
Finding Quality Inspectors
10 Ways to Ascertain a Down Payment
How Lenders Approve Loan Applicants
Definitions of Closing Costs

Colorado Springs Homes Buyer

- 10 Ways to Ascertain a Down Payment -

You just found the home of your dreams, but you need more money or you can't have it. Major problem, however here are ten surefire methods for ascertaining a larger down payment, and getting that home.

1. Receive a tax-free gift -From your parents, lovers, or anyone who will; documented by a “gift letter” stating that you do not need to repay the debt. This move effectively raises your down payment without increasing your debt load figured into your original pre-approval.

2. Borrow Against a Life Insurance Policy – Insured collateral for the lender.

3. Borrow Against Stocks and Bonds- Avoid the capital gains, used for collateral.

4. Borrow Against a Company Pension Plan – If you remove the money there are usually penalties and taxes.

5. Cash in a Retirement Savings Plan – You may have to pay penalties

6. Ask Current Employer for Cash Advance- This can usually be asked for in lieu of next years raise, sick time, or vacation time.

7. Advance on Future Inheritance- Don't Make Grandma Mad

8. Use your own Business as Collateral- Default on your loan = Lender owns a business. Only works for businesses with positive cash flow and financial statements.

9. Team Up With Cosigners- Trade equity in your home for signers. The more standup folks you can get to sign on the dotted line the more a lender will trust you too!

10. Sell Personal Possessions- Usually the last option. However, cars, diamonds, antiques, collectibles, and jewelry can fetch enough money to boost your down payment.

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