I don’t quite know how but I do know that I am driven to find a way to change the face of affordable housing here in the Springs. There is a disparity in the most oft requested price points vs. what’s on the market. This disparity isn’t one that’s easily bridged for a renter, or someone who isn’t in a position or doesn’t want to buy.
Wired has 7 options here…I really like the idea of the modular homes and think something like this could be done here.
Good morning! I have to run out the door this morning but here’s the  link to my new app, packed with useful links and information. Please check it out and let me know what you think!
The long answer: “A debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. ” (Investopedia, 2015)
It short answer: it’s a loan backed by a home.
What kinds of mortgages are there? There are a number of options you’re best served by speaking directly to a lender on but there are some basic types such as a Veterans Affairs (VA) loan guarantee (also called VA loan), conventional loan, FHA loan, or an Adjustable Rate Mortgage (ARM).