Now Selling Brand New Homes in Fort Lupton, CO. Click here to learn more

Now Selling Brand New Homes in Fort Lupton, CO.
Click here to learn more

Answers to Your Home Buying Questions

Buying a home is one of the most important financial and lifestyle decisions you’ll make, and it’s natural to have questions along the way. At Eastman Homes, our team works closely with buyers to provide clear guidance and trusted expertise throughout the process — from exploring ranch homes for sale in Colorado to understanding financing, community living, and the benefits of Epcon communities in Colorado.

Below you’ll find answers to some of the most common questions homebuyers ask when considering an Eastman home. If you don’t see your question listed, our team is always happy to help — simply reach out to contact our team

WHAT IS A 55 PLUS COMMUNITY?

A 55+ community is a neighborhood designed specifically for active adults, typically with at least one resident aged 55 or older in each household. These communities are planned to support convenience, accessibility, and lifestyle, often featuring single-level homes, low-maintenance living, and thoughtfully designed community spaces.

Many homeowners choose this type of neighborhood because it allows them to simplify daily life while remaining connected to neighbors and local activities. At Eastman Homes, our communities are carefully designed around comfort, community, and quality craftsmanship. Explore ranch homes for sale in Colorado

Living in a 55+ community in Colorado offers several advantages, including reduced home maintenance, accessible home designs, and a strong sense of community among neighbors with similar lifestyles.

Many communities include homeowner association services that handle landscaping and exterior maintenance, giving residents more time to travel, enjoy hobbies, or spend time with friends and family. Explore our most recent new homes in Fort Lupton, CO. 

If a community is designated as age-restricted, then 80% of the homes in that community must include a primary resident that is 55 years of age or older. If a community is not designated as age-restricted, then residents do not have to be a certain age.

Common amenities in 55 plus communities include clubhouses, fitness centers, swimming pools, pickleball courts, walking trails and more.

Many available homes in 55 plus communities offer single-level living including a primary owner’s suite on the main level. Some 55 plus communities offer zero-step entries to homes or bonus suite options for visiting family members and friends. Epcon communities offer oversized garages and ample storage space in a variety of home sizes, allowing homeowners to “rightsize” to fit their lifestyle.

You can lock in interest rates at the start of the process, so you’ll know ahead of time what your closing costs will be. This will be paid at closing.

Your minimum down payment depends on the type of mortgage you choose, your lender and your finances. By making a 20% or more down payment, you will avoid paying private mortgage insurance.

Since your budget can often dictate where and how much house you can buy, getting prequalified as early as possible will help your home journey proceed smoother.

One of the most important steps in the home buying process is choosing your lender. While we do not require you to work with an Epcon preferred lender, we highly recommend them because they possess a thorough understanding of our process.

The application process varies by lender, however, you typically need the following information for you and your co-borrower spouse, if you have one.
  • W-2s (for the last 2 years)
  • Recent pay stubs (covering the most recent 30 days)
  • Complete bank statements for all financial accounts, including investments (for the last 2 months)
  • Signed personal and business tax returns (all pages and relevant schedules)
  • If self-employed, a copy of most recent quarterly or year-to-date profit/loss statement
  • A copy of the signed Purchase and Sales Agreement

There are a number of different mortgage types, but here are a few of the most common:

  • Fixed Rate Mortgages-the interest rate remains the same for the entire term of the loan.
  • Adjustable Rate Mortgages (ARM)– the interest rate on these loans is adjusted periodically based on a specified financial index.
  • Hybrid Mortgages-these loans start off as a fixed rate for a set number of years and then convert to an adjustable mortgage.
  • FHA and VA Mortgages-these are the two most common types of government insured loans are Federal Housing Authority (FHA) and Veteran’s Administration (VA).
  • Home Equity Conversion Mortgages (HECM)-the FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home.