Affordable Homes for Sale in Loveland, CO

Affordable homes in Loveland: the numbers this week

Cheap homes in Loveland split between condos with dues and small houses without: 70 percent of the 83 listings under $400,000 carry an HOA, median $330 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 Loveland home is about $2,932 a month, which a lender approves at about $117,000 a year of income at 30 percent, or $78,000 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 1,144 square feet at the median.

How the price comes down in Loveland

• 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.
• 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.
• HUD homes at $100 down: Loveland HUD homes, when one is listed.
• Rent-to-own, priced honestly: Loveland rent-to-own homes and why assistance beats it.

Related Loveland searches

Loveland starter homes · Loveland condos · Loveland townhomes · Loveland 2-bedroom homes · Loveland 3-bedroom homes · Loveland fixer-uppers · Loveland foreclosures · Loveland homes that pass FHA · All Loveland homes for sale. Nearby: Fort Collins (168 under $400,000), Greeley (147 under $400,000), Longmont (95 under $400,000), Berthoud (10 under $400,000). Statewide: affordable homes in Colorado, the Denver affordable homes guide.

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. ZIP 80538 alone holds 50 of the 83 Loveland 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 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. 27 Loveland homes are listed under $300,000 this week and 12 under $250,000.

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.