Colorado Springs and El Paso County Relocation ... - Keep Trees

Real estate agents are happy to work with you to fi nd the home
you want, in any area you want to live in, with a price range that
works for your budget. Some people choose a neighborhood close to
work or schools. Others want to live closer to where they expect to
spend their leisure time. Wherever you decide to live in the area, there
is a home for you.
One way to fi gure out where you might want to live is to pick
up some real estate magazines showing properties for sale. These are
usually distributed free; some are divided up by neighborhood, some
by selling agents. Peruse the listings, check out the homes for sale,
then drive around and see what the actual areas are like.
Another way to do the initial background work is to go online
to www.ppar.com and explore the Pikes Peak Association of Realtors
Web site. In April 2007 there were more than 9,000 properties
listed in the Colorado Springs area. Many local real estate agents
and homebuilders have their own Web sites as well. Googling has
practically become a national pastime; why not use it to fi nd the
home of your dreams.
Buying
Buying a home in Colorado Springs and El Paso County is an
investment in your future. There are many new subdivisions to the
north and east under construction, if you want a new home. The
housing market is thriving, and there are a full range of options.
The best idea is to get the biggest home you can afford, with decks,
plenty of storage and as large a yard as you want to maintain. Make
sure your real estate agent is working exclusively for you as your
buyer’s agent.
CREDIT REPORT
When you apply for a home loan, the mortgage company will order
a credit report. To fi nd out in advance what your credit report says
about your fi nances you can get a free report, thanks to a recent
amendment to the federal Fair Credit Reporting Act, which requires
each of the major nationwide consumer reporting companies to
provide you with a free copy of your credit report, at your request,
once every 12 months.
To order your free annual report from one or all of the national
consumer reporting companies, visit www.annualcreditreport.com,
call toll free (877) 322-8228, or complete the Annual Credit Report
Request Form and mail it to: Annual Credit Report Request Service,
P.O. Box 105281, Atlanta, GA 30348-5281. Download the form at
www.ftc.gov/credit.
Do not contact the three nationwide consumer reporting companies
individually. They provide free annual credit reports only through
www.annualcreditreport.com; (877) 322-8228; and Annual Credit
Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
HOME LOAN APPLICATION CHECKLIST
Photo ID, such as a drivers license
Social Security numbers
Residence addresses for the past two years (Landlord contact information
if you were renting)
Names and addresses of your employers over past two years
Your current gross monthly salary
Recent statements with names, addresses, account numbers and
balances on all checking, savings, money market and mutual funds
accounts
Recent statements with names, addresses, account numbers, balances
and monthly payments on all open loans and credit cards
Addresses and loan information of all other real estate owned
Estimated value of furniture and personal property
W2s for the past two years and current paycheck stubs
Copies of all divorce decrees, child support documents or any other court
documents that affect your fi nancial status
Verifi cation of any child support payments
Evidence of any retirement or pension benefi ts
VA OR MILITARY PROGRAMS
DD 214, if a Veteran
Form 22, if National Guard
DD 1747 – Off-Base Housing Authorization, if Active Duty
Certifi cate of Eligibility, if Active Duty
SELF-EMPLOYED INDIVIDUALS
Personal tax returns for the past three years
Current income statement
Balance sheet
ALL BORROWERS
Explanation of any irregularities on your credit report
22 Colorado Springs Relocation GUIDE 2007