Real Estate Questions Answered Here
by Art Santellen,
REALTOR®
NOTICE: Before I answer the questions at the end of this column, I'd
like to share some important information with my readers.
I just got word from Norwest Mortgage that they have been selected to
participate in a new home buyer assistance program called, the Community Housing
Assistance Program (CHAPA). Not only does it sound like the more familiar CHAFA
program, it also shares some similarities.
For example:
• The amount of the grant is based on individual needs, typically from 3% to
5% of the loan amount.
• May be used for 1 to 4 unit properties and condo's. But here's the best
part. There are important differences between this program and the traditional
CHAFA disbursement:
• There are no income limits.
• There is no first time home buyer requirement.
• No minimum down payment or buyer contribution.
• No repayment of the grant......ever.
• FHA loans only.
• Simple paperwork with no delays by CHAPA.
Remember, participation in this program, like many other federal, state and
county home buyer programs require attendance at a home buyer's seminar. Yes,
there are other requirements.
To find out more about this program, you need to call Norwest's Community
Development Lending Representative, Beverly Widdel, at 471-4520 and tell her
your Uncle Art sent you.
2nd Notice: Last week I was talking to a fellow Realtor in Pueblo.
After speaking on the phone for a few minutes, he asked if I was the same Art
Santellen that writes the real estate column for Hispania News. "Yes,"
I confessed. He went on to say how much he enjoys reading my column and we
continued to discuss the commercial real estate issue that started the phone
call. After the call I was thinking that many of my columns, like the one above,
really focus on the real estate market in Colorado Springs. I think I focus too
much on Colorado Springs.
So, here's my invitation to other Realtors®
(as well as lenders and other real estate professionals) in Southern Colorado.
I want you to send me real estate news, events, happenings, new loan programs in
your area, pet peeves, good ideas and I'll print them along with your name and
phone number. C'mon Pueblo, Canyon City, La Junta, Trinidad, and the good folks
in the San Luis Valley, tell me how the recent court rulings pertaining to water
rights has affected the price of farms and ranches. I want to know if the defeat
of recent ballot issues pertaining to raising hogs has helped or hindered. I
also want to know about special Farm and Rural Home loan programs that could
benefit my readers. Most important, I want to know if there's a carneceria
around here that sells cooked cabezas or a panaderia that sells authentic
Mexican pan dulce.
Remember, the purpose of my real estate column is to educate the public and
to encourage home ownership. The ideal all along was to take back the land...one
piece at a time.
Please send me your stories c/o Hispania News at the address below. Or, you
can fax them to me c/o Heritage Realtors, (719) 548-9475, attn: Art Santellen.
Q: Why should I pay a Realtor to help me buy a home?
Q: I just heard there are government programs out there to help
finance a home. Have you heard of any HUD or FHA programs that would help me:
The answers to these, and other fascinating real estate questions will be
answered here, in Hispania News, next week.
When you're ready to buy or sell a home, see a REALTOR®
Art is a REALTOR® with Heritage Realtors in Colorado
Springs.
If you have a real estate question you’d like answered, please send them to
Art Santellen, care of Hispania News,
PO Box 15116,
Colorado Springs, CO 80935
Art Santellen via e-mail
Asantellen@aol.com
Santellen@netscape.net
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