Mariana Wagner

Buying a Colorado Springs Investment Property with an FHA Loan

When buying your next Colorado Springs home, an FHA loan may be a great option… even when looking to buy and investment property.

What is FHA?

According to the HUD website:

“FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.

• Low down payments
• Low closing costs
• Easy credit qualifying

What does FHA have for you?

Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.”

FHA and Investment Properties

Most people get an FHA loan to purchase a single family home, condo or townhome in Colorado Springs and  surrounding areas. However, you can take advantage of the great things that FHA loans offer in purchasing an investment property, too!

FHA loans cover single family homes, condos, town homes AS WELL AS duplexes, tri-plexes and 4-plexes!

Read Also:

• Investment Properties for sale in Colorado Springs and Surrounding Areas – Tri-Plexes andDuplexes
• Colorado Springs Duplexes for Sale – All Areas

FHA Investment Property Loan Limits

In El Paso County (which covers Colorado Springs, Monument, Manitou Springs and Fountain) here are the following loan limits for FHA:

• Single Family, Condo or Townhome:  $325,000
• Duplex:  $416,050
• Tri-Plex:  $502,900
• 4-Plex:  $625,000

MOST 2-4 plexes in Colorado Springs are currently* well under these limits, so now would be a great time to buy an investment property in Colorado Springs with an FHA loan.

For more information on Buying a Colorado Springs investment property, contact the Wagner iTeam: 719.434.7525

For more information on qualifying for an FHA loan, contact Trace Lee, with Bank of America: 719.314.6032

*Prices as of 7/11/2009.

>> Search All Duplexes for Sale in Colorado Springs and Surrounding Areas <<

>> Search All Tri-Plexes and 4-Plexes for Sale in Colorado Springs and Surrounding Areas <<

July 14th, 2009 by Mariana Wagner | 3 Comments »

This entry was posted on Tuesday, July 14th, 2009 at 3:04 pm and is filed under About Colorado Springs, BUYERS, Colorado Springs Homes, Colorado Springs Real Estate, Foreclosure Information, Investment Properties, Mortgage and Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Real Estate and the Internet: New Technology, New Customers - Real Estate - ForexBlog said at July 15th, 2009 at 3:56 am

   [...] Colorado Springs Real Estate Connection » Buying a Colorado … [...]

2. David Jonhston said at July 17th, 2009 at 4:46 am

   Its nice to hear that a buyer is getting an option of having FHA Loan.

3. Short Sales In The Age Of Government Intervention | Marketing Communication said at July 24th, 2009 at 8:46 pm

   [...] Colorado Springs Real Estate Connection » Buying a Colorado … [...]

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