Affordable Homes for Sale in Loveland, CO

Questions people ask about affordable homes in Loveland

Where are the cheapest homes for sale in Loveland?

In north and west Loveland and south Loveland and downtown. 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 80538.

What does $300,000 buy in Loveland 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 1,144 square feet at the median. 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 Loveland home?

About $2,932 on the $340,000 median with an FHA loan at 7 percent and 3.5 percent down: $2,183 principal and interest, $330 HOA, $156 taxes, $150 mortgage insurance, $113 insurance. A lender approves that payment at about $117,000 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 Loveland?

About $1,000 with CHFA assistance: the 3 percent grant covers the FHA down payment ($11,900 on the median), the seller pays closing costs through the offer, and the earnest money comes back at closing. Without assistance it is about $17,400. The worked example is on $1,000 cash to close; the rules on CHFA down payment assistance.

Which down payment programs work in Loveland?

CHFA statewide (620 score, income under $178,920, 3 percent grant or 4 percent second mortgage). Larimer Home Ownership Program: the county's deferred second mortgage for buyers under 80 percent of area median income. Loveland Housing Authority: income-restricted homes that resell under market. Every program and its catch is on affordable homes in Colorado.

Are there HUD homes or foreclosures in Loveland?

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

Is rent-to-own cheaper in Loveland?

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 Loveland rent-to-own homes.