A Guide To BAH and How Much Home You Can Buy – Colorado Springs, CO
Posted by Mariana Wagner on August 15, 2007
Here is a guide to how much home you would qualify for based strictly off of known Colorado Springs BAH. There is also an idea of how much home you could afford if you were to pay just an extra $100./month above your BAH. These figures are based off of a 30 year 7% interest fixed mortgage and include estimated property taxes and homeowners’ insurance.
This guide is meant only to provide an idea of what to expect when you relocate to Colorado Springs. Of course, you may qualify for a higher or lower interest rate and/or a lower or higher priced home – depending on current interest rates, your personal credit and which loan you decide to choose.
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If you are considering purchasing a home using your VA eligibility, you have the opportunity to get some of your personal debt paid off in the process. For example, Derek and I are working with a couple who, because they are getting a VA loan, are able to get thousands of dollars of their personal debt paid off in the process. This can be an awesome opportunity for Military Buyers to buy a home and lower their monthly bills. Because this scenario can be played out in several different ways, it is best to talk with your lender about if and how this would work for you.
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For an idea of how many homes are available in each price range, please read:
How Many Homes in Each Price Range Are For Sale in Colorado Springs?
Posted by: Mariana Wagner – Colorado Springs Real Estate – Military Relocation Specialist – (719) 570-7715
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