Affordable Homes for Sale in Pueblo, CO

Affordable homes in Pueblo: the numbers this week

Cheap homes in Pueblo are mostly houses on their own lots: only 12 percent of the 276 listings under $400,000 carry an HOA, so the price you see is close to the payment you get. 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 Pueblo home is about $1,994 a month, which a lender approves at about $80,000 a year of income at 30 percent, or $53,000 at 45 percent. 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 1,401 square feet or so, no HOA, a yard, a garage.

How the price comes down in Pueblo

• 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.
• Pueblo County and city programs: the housing authority and the city run small down payment funds that open and close through the year; we check the day you call.
• USDA on the edges: Pueblo West and the St. Charles Mesa carry USDA zero-down eligibility for incomes under the county limit.
• HUD homes at $100 down: Pueblo HUD homes, when one is listed.
• Rent-to-own, priced honestly: Pueblo rent-to-own homes and why assistance beats it.

Related Pueblo searches

Pueblo starter homes · Pueblo condos · Pueblo townhomes · Pueblo 2-bedroom homes · Pueblo 3-bedroom homes · Pueblo fixer-uppers · Pueblo foreclosures · Pueblo homes that pass FHA · All Pueblo homes for sale. Nearby: Colorado Springs (1151 under $400,000), Fountain (81 under $400,000), Canon City (0 under $400,000), Florence (0 under $400,000). Statewide: affordable homes in Colorado, the Denver affordable homes guide.

Questions people ask about affordable homes in Pueblo

Where are the cheapest homes for sale in Pueblo?

In Bessemer and the South Side, Belmont and the East Side and Sunset Park and Regency. ZIP 81004 alone holds 74 of the 276 Pueblo homes under $400,000 this week, and the top three ZIPs hold 66 percent. The map above shows every one; the ZIP pages start with 81004.

What does $300,000 buy in Pueblo 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 1,401 square feet or so, no HOA, a yard, a garage. 189 Pueblo homes are listed under $300,000 this week and 129 under $250,000.

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

About $1,994 on the $259,000 median with an FHA loan at 7 percent and 3.5 percent down: $1,663 principal and interest, $130 taxes, $115 mortgage insurance, $86 insurance. A lender approves that payment at about $80,000 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 Pueblo?

About $1,000 with CHFA assistance: the 3 percent grant covers the FHA down payment ($9,065 on the median), the seller pays closing costs through the offer, and the earnest money comes back at closing. Without assistance it is about $14,565. The worked example is on $1,000 cash to close; the rules on CHFA down payment assistance.

Which down payment programs work in Pueblo?

CHFA statewide (620 score, income under $178,920, 3 percent grant or 4 percent second mortgage). Pueblo County and city programs: the housing authority and the city run small down payment funds that open and close through the year; we check the day you call. USDA on the edges: Pueblo West and the St. Charles Mesa carry USDA zero-down eligibility for incomes under the county limit. Every program and its catch is on affordable homes in Colorado.

Are there HUD homes or foreclosures in Pueblo?

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

Is rent-to-own cheaper in Pueblo?

No. A lease-option on a $260,000 home takes about $8,000 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 Pueblo rent-to-own homes.