Tax Rules for Giving a Down Payment for a Home as a Gift

Tax Rules for Giving a Down Payment on a Home as a Gift

Are you thinking of giving your child, relative or friend a down payment for a home in the Denver area? Have you been given a magnanimous amount of money to put down on your first home? It's more common than you may think. Roughly one-quarter of first-time home buyers receive a down payment gift from relatives or friends. Before you decide what to do … [Read more...]

Denver Mortgage Rates Hit New Record Lows

Denver Mortgage Application

As Denver mortgage rates continued to drop earlier this month, housing affordability increased considerably, putting potential home buyers in a very enjoyable position. 30-year fixed-rate mortgage rates have now been under four percent for six weeks in a row, the longest streak of these historically low figures. These new record lows were made possible by … [Read more...]

What’s Your Reason for Owning a Home in Denver?

Denver Homeownership

No matter if you are a first-time home buyer or a seasoned professional on the hunt for the perfect investment property, homeownership is a goal for many across the nation and in the city of Denver. What is your reason for owning? Owning your first home is a big step that many feel is necessary to begin building equity and settling down. 81 percent of homeowners … [Read more...]

FHA Maximum Loan Limits Raised Over Thanksgiving Holiday

FHA Loan Limits in Denver, Colorado

Over the Thanksgiving holiday weekend, Congress passed new legislation raising the maximum limits for Federal Housing Administration loans while keeping Fannie Mae and Freddie Mac loan limits at the same levels. The compromise between Republican and Democratic lawmakers is a move to provide more "oomph" for the housing industry. The maximum FHA loan amounts … [Read more...]

Low Home Prices Mean Early Buys for Those Thinking About Retirement

Retirement in Denver

Are you nearing the age of retirement and beginning to think about where you will be living once you are now longer working? Some savvy buyers are taking advantage of the current real estate market and nabbing their dream retirement home while prices remain low. National home prices are down 36 percent since their mid-2006 peak, and interest rates are at record … [Read more...]