Is the Value of Your West Denver Home on the Rise?

I was browsing the latest real estate news when I came across something that might interest you.

According to CoreLogic’s Equity Report, “256,000 properties regained equity in the third quarter of 2015.” Anand Nallathambi, their President and CEO, expects home values to continue appreciating in 2016. In fact, he predicts a 5% rise in home prices this year!

This is obviously fantastic news for West Denver homeowners. The problem, however, is that many people are unaware that their equity has increased. According to a study by Fannie Mae, only 37% of Americans believe that they have “significant equity,” when in reality, 74% of homeowners have a great deal of value in their properties.

Essentially, 37% of homeowners have no idea how much their home is actually worth. Not only that: they are completely unaware that their home is worth more than they think!

I just thought I would share this information with you today because you could be one of those people. If you’ve been on the fence about selling your home in West Denver, it’s time to reevaluate your situation and take advantage of your equity before market conditions change!

You can take a look to see if your home is worth more than you thought by following the link:

http://www.3cprofessionals.com/sell/

This is a free, no-obligation tool that will give you an idea of how much your home is worth. You may be shocked by how much value your home has accrued!

If you have any questions about how you can cash in on your increased equity, or if you need real estate assistance of any kind, I’m always here to help!

Different Loan Options for Denver Buyers

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Today, I'm going to talk to you about three different types of loans that don't require 20% down: VA loans, FHA loans, and conventional loans.

The VA loan is a great option for active and retired military. You can purchase a home with no down payment, and you don't have to pay the mortgage insurance premium. The mortgage insurance premium usually gets tacked on when you can't put 20% down because the lender considers you as more of a risk. Additionally, this loan is less strict with their credit check, and more flexible with your credit score in order to qualify.

Another option for buyers is the FHA loan. The FHA requires a 3.5% down payment to purchase a home, and they are less strict when it comes to your credit score. You will have the mortgage insurance premium added on, but the FHA loan gets you into a home. That way, you invest in your own property instead of paying of the landlord's mortgage.

Finally, there's the conventional loan. This option is strictest with credit scores, but you can buy a home with as little as 5% down. You can get a lower interest rate, but you need a higher credit score than you would with the FHA loan. You can get a 10, 15, or 30 year conventional loan.

If you have any questions, give me a call or send me an email. I would be happy to help you!