Affordable Homes for Sale in Fort Morgan, CO

Questions people ask about affordable homes in Fort Morgan

Where are the cheapest homes for sale in Fort Morgan?

In and all of Fort Morgan. The grid below lists every match live from the MLS, and the market stats under it show today's median price and price per square foot. The map above shows every one; the ZIP pages start with 80701.

What does $300,000 buy in Fort Morgan today?

Under $300,000 it is a small older house or a manufactured home; $300,000 to $400,000 buys a three-bedroom ranch or split-level of 1,614 square feet or so, no HOA, a yard, a garage. The grid below lists every match live from the MLS, and the market stats under it show today's median price and price per square foot.

How much is the monthly payment on an affordable Fort Morgan home?

About $2,474 on the $325,000 median with an FHA loan at 7 percent and 3.5 percent down: $2,087 principal and interest, $135 taxes, $144 mortgage insurance, $108 insurance. A lender approves that payment at about $99,000 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 Fort Morgan?

About $1,000 with CHFA assistance: the 3 percent grant covers the FHA down payment ($11,375 on the median), the seller pays closing costs through the offer, and the earnest money comes back at closing. Without assistance it is about $16,875. The worked example is on $1,000 cash to close; the rules on CHFA down payment assistance.

Which down payment programs work in Fort Morgan?

CHFA statewide (620 score, income under $178,920, 3 percent grant or 4 percent second mortgage). USDA zero down: all of Fort Morgan is USDA-eligible, so a buyer under the county income limit puts nothing down and skips mortgage insurance. CHFA: works here too, and the two stack for closing costs. Every program and its catch is on affordable homes in Colorado.

Are there HUD homes or foreclosures in Fort Morgan?

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 Fort Morgan HUD homes. Bank-owned and fixer listings are on Fort Morgan foreclosures and Fort Morgan fixer-uppers.

Is rent-to-own cheaper in Fort Morgan?

No. A lease-option on a $330,000 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 Fort Morgan rent-to-own homes.