Affordable Homes for Sale in Fountain, CO

Questions people ask about affordable homes in Fountain

Where are the cheapest homes for sale in Fountain?

In and Fountain proper and the Mesa Ridge side. 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 80817.

What does $300,000 buy in Fountain 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 1,432 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 Fountain home?

About $2,650 on the $350,000 median with an FHA loan at 7 percent and 3.5 percent down: $2,247 principal and interest, $131 taxes, $155 mortgage insurance, $117 insurance. A lender approves that payment at about $106,000 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 Fountain?

About $1,000 with CHFA assistance: the 3 percent grant covers the FHA down payment ($12,250 on the median), the seller pays closing costs through the offer, and the earnest money comes back at closing. Without assistance it is about $17,750. The worked example is on $1,000 cash to close; the rules on CHFA down payment assistance.

Which down payment programs work in Fountain?

CHFA statewide (620 score, income under $178,920, 3 percent grant or 4 percent second mortgage). El Paso County Turnkey Plus: the county's down payment grant, usable in Fountain. VA zero down: Fort Carson is next door and nearly every Fountain home takes a VA loan. Every program and its catch is on affordable homes in Colorado.

Are there HUD homes or foreclosures in Fountain?

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

Is rent-to-own cheaper in Fountain?

No. A lease-option on a $350,000 home takes about $11,000 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 Fountain rent-to-own homes.