Affordable Homes for Sale in Evans, CO

Affordable homes in Evans: the numbers this week

Cheap homes in Evans split between condos with dues and small houses without: 59 percent of the 46 listings under $400,000 carry an HOA, median $275 a month, so the same price buys two different payments. The grid above is every one of them, updated daily; the charts below show where they are, what they cost a month and which programs bring the cash to about $1,000.

The full payment on the median affordable Evans home is about $2,826 a month, which a lender approves at about $113,000 a year of income at 30 percent, or $75,000 at 45 percent. Under $300,000 it is a condo or an older two-bedroom house; $300,000 to $400,000 is where the three-bedroom houses and the newer townhomes with a garage start, about 1,284 square feet at the median.

How the price comes down in Evans

• CHFA assistance: 3 percent grant or 4 percent second mortgage, 620 score, income under $178,920, repeat buyers welcome. The program and the $1,000 cash-to-close math.
• USDA zero down: most of Evans is USDA-eligible, which beats every down payment program when the income fits.
• CHFA: stacks for closing costs.
• HUD homes at $100 down: Evans HUD homes, when one is listed.
• Rent-to-own, priced honestly: Evans rent-to-own homes and why assistance beats it.

Related Evans searches

Evans starter homes · Evans condos · Evans townhomes · Evans 2-bedroom homes · Evans 3-bedroom homes · Evans fixer-uppers · Evans foreclosures · Evans homes that pass FHA · All Evans homes for sale. Nearby: Greeley (147 under $400,000), Loveland (83 under $400,000), Johnstown (29 under $400,000), Windsor (17 under $400,000). Statewide: affordable homes in Colorado, the Denver affordable homes guide.

Questions people ask about affordable homes in Evans

Where are the cheapest homes for sale in Evans?

In Evans and west Greeley and Boomerang Ranch. ZIP 80620 alone holds 44 of the 46 Evans homes under $400,000 this week, and the top three ZIPs hold 100 percent. The map above shows every one; the ZIP pages start with 80620.

What does $300,000 buy in Evans today?

Under $300,000 it is a condo or an older two-bedroom house; $300,000 to $400,000 is where the three-bedroom houses and the newer townhomes with a garage start, about 1,284 square feet at the median. 20 Evans homes are listed under $300,000 this week and 9 under $250,000.

How much is the monthly payment on an affordable Evans home?

About $2,826 on the $335,000 median with an FHA loan at 7 percent and 3.5 percent down: $2,151 principal and interest, $275 HOA, $140 taxes, $148 mortgage insurance, $112 insurance. A lender approves that payment at about $113,000 a year of income. Run your own numbers on can I afford a home now.

How much cash do I need to buy a cheap home in Evans?

About $1,000 with CHFA assistance: the 3 percent grant covers the FHA down payment ($11,725 on the median), the seller pays closing costs through the offer, and the earnest money comes back at closing. Without assistance it is about $17,225. The worked example is on $1,000 cash to close; the rules on CHFA down payment assistance.

Which down payment programs work in Evans?

CHFA statewide (620 score, income under $178,920, 3 percent grant or 4 percent second mortgage). USDA zero down: most of Evans is USDA-eligible, which beats every down payment program when the income fits. CHFA: stacks for closing costs. Every program and its catch is on affordable homes in Colorado.

Are there HUD homes or foreclosures in Evans?

HUD homes sell as-is at HUD's appraised price with a $100 down option on an FHA loan; Colorado has 26 this week and the list changes every Monday on Evans HUD homes. Bank-owned and fixer listings are on Evans foreclosures and Evans fixer-uppers.

Is rent-to-own cheaper in Evans?

No. A lease-option on a $340,000 home takes about $10,000 up front plus a rent premium, with no title until the end, where CHFA puts you on title now for about $1,000 at a 620 score. The side-by-side is on Evans rent-to-own homes.