Sopris Realty Blog: Colorado

The Federal Housing Administration will raise the minimum down payment for its least credit-worthy borrowers.  FHA is making these changes to ensure long-term financial soundness.  With credit scores below 580, borrowers will need 10% down.  Above 580 will allow for only 3.5% down.  FHA is also increasing upfront mortgage insurance premiums from 1.75% to 2.25%.  For more information visit www.soprisrealty.com

Roaring Fork Valley residents may be eligible for $300 back on insulation upgrade.  http://www.aspencore.org/file/Insulate_Colorado.html

The first time home buyer tax credit has been extended and also includes buyers that are not buying for the first time.  All contracts need to be in effect by April 30, 2010 and close by June 30, 2010.  http://www.mortgagemarketguide.com/specialannounce_land_FEDSIGN.html