Affordable Homes for Sale in Parker, CO

Affordable homes in Parker: the numbers this week

Cheap homes in Parker are condos and townhomes: 100 percent of the 54 listings under $400,000 carry an HOA, median $361 a month, and that line decides the payment as much as the price does. 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 Parker home is about $3,049 a month, which a lender approves at about $122,000 a year of income at 30 percent, or $81,000 at 45 percent. Under $300,000 it is a one- or two-bedroom condo of about 1,123 square feet. The first townhomes with a garage appear in the $300,000s, and a detached house under $400,000 is rare and sells in days.

How the price comes down in Parker

• 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.
• metroDPA: Douglas County is a member.
• Metro districts: most Parker townhomes carry a district levy on top of the HOA; the table below prices it.
• HUD homes at $100 down: Parker HUD homes, when one is listed.
• Rent-to-own, priced honestly: Parker rent-to-own homes and why assistance beats it.

Related Parker searches

Parker starter homes · Parker condos · Parker townhomes · Parker 2-bedroom homes · Parker 3-bedroom homes · Parker fixer-uppers · Parker foreclosures · Parker homes that pass FHA · All Parker homes for sale. Nearby: Castle Rock (37 under $400,000), Centennial (38 under $400,000), Aurora (769 under $400,000), Lone Tree (4 under $400,000). Statewide: affordable homes in Colorado, the Denver affordable homes guide.

Questions people ask about affordable homes in Parker

Where are the cheapest homes for sale in Parker?

In Stroh Ranch, Cottonwood and Pine Lane and east Parker and Canterberry. ZIP 80134 alone holds 49 of the 54 Parker 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 80134.

What does $300,000 buy in Parker today?

Under $300,000 it is a one- or two-bedroom condo of about 1,123 square feet. The first townhomes with a garage appear in the $300,000s, and a detached house under $400,000 is rare and sells in days. 12 Parker homes are listed under $300,000 this week and 2 under $250,000.

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

About $3,049 on the $347,400 median with an FHA loan at 7 percent and 3.5 percent down: $2,230 principal and interest, $361 HOA, $188 taxes, $154 mortgage insurance, $116 insurance. A lender approves that payment at about $122,000 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 Parker?

About $1,000 with CHFA assistance: the 3 percent grant covers the FHA down payment ($12,159 on the median), the seller pays closing costs through the offer, and the earnest money comes back at closing. Without assistance it is about $17,659. The worked example is on $1,000 cash to close; the rules on CHFA down payment assistance.

Which down payment programs work in Parker?

CHFA statewide (620 score, income under $178,920, 3 percent grant or 4 percent second mortgage). metroDPA: Douglas County is a member. Metro districts: most Parker townhomes carry a district levy on top of the HOA; the table below prices it. Every program and its catch is on affordable homes in Colorado.

Are there HUD homes or foreclosures in Parker?

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

Is rent-to-own cheaper in Parker?

No. A lease-option on a $350,000 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 Parker rent-to-own homes.