Affordable Homes for Sale in Woodland Park, CO

Affordable homes in Woodland Park: the numbers this week

Cheap homes in Woodland Park split between condos with dues and small houses without: 42 percent of the 38 listings under $400,000 carry an HOA, median $320 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 Woodland Park home is about $2,083 a month, which a lender approves at about $83,000 a year of income at 30 percent, or $56,000 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 816 square feet at the median.

How the price comes down in Woodland Park

• 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.
• USDA zero down: Woodland Park and Teller County are USDA-eligible.
• CHFA: stacks for closing costs.
• HUD homes at $100 down: Woodland Park HUD homes, when one is listed.
• Rent-to-own, priced honestly: Woodland Park rent-to-own homes and why assistance beats it.

Related Woodland Park searches

Woodland Park starter homes · Woodland Park condos · Woodland Park townhomes · Woodland Park 2-bedroom homes · Woodland Park 3-bedroom homes · Woodland Park fixer-uppers · Woodland Park foreclosures · Woodland Park homes that pass FHA · All Woodland Park homes for sale. Nearby: Colorado Springs (1151 under $400,000), Fountain (81 under $400,000), Monument (18 under $400,000), Pueblo (276 under $400,000). Statewide: affordable homes in Colorado, the Denver affordable homes guide.

Questions people ask about affordable homes in Woodland Park

Where are the cheapest homes for sale in Woodland Park?

In Woodland Park and ZIP 80866. ZIP 80863 alone holds 37 of the 38 Woodland Park 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 80863.

What does $300,000 buy in Woodland Park 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 816 square feet at the median. 24 Woodland Park homes are listed under $300,000 this week and 19 under $250,000.

How much is the monthly payment on an affordable Woodland Park home?

About $2,083 on the $275,000 median with an FHA loan at 7 percent and 3.5 percent down: $1,766 principal and interest, $103 taxes, $122 mortgage insurance, $92 insurance. A lender approves that payment at about $83,000 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 Woodland Park?

About $1,000 with CHFA assistance: the 3 percent grant covers the FHA down payment ($9,625 on the median), the seller pays closing costs through the offer, and the earnest money comes back at closing. Without assistance it is about $15,125. The worked example is on $1,000 cash to close; the rules on CHFA down payment assistance.

Which down payment programs work in Woodland Park?

CHFA statewide (620 score, income under $178,920, 3 percent grant or 4 percent second mortgage). USDA zero down: Woodland Park and Teller County are USDA-eligible. CHFA: stacks for closing costs. Every program and its catch is on affordable homes in Colorado.

Are there HUD homes or foreclosures in Woodland Park?

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

Is rent-to-own cheaper in Woodland Park?

No. A lease-option on a $280,000 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 Woodland Park rent-to-own homes.