The Benefits of Using Your Equity To Make a Bigger Down Payment

Did you know? Homeowners are often able to put more money down when they buy their next home.

That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.

According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):

Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led to a big boost in equity for current homeowners like you. When you sell your house and move, you can take the equity that gives you and apply it toward a larger down payment on your new home. That’s a major opportunity, especially if you’ve had concerns about affordability.

Now, it’s important to remember you don’t have to make a big down payment to buy your next home—there are loan programs that let you put as little as 3%, or even 0% down. But there’s a reason so many current homeowners are opting to put more money down. That’s because it comes with some serious perks.

Why a Bigger Down Payment Can Be a Game Changer

1. You’ll Borrow Less and Save More in the Long Run

When you use your equity to make a bigger down payment on your next home, you won’t have to borrow as much. And the less you borrow, the less you’ll pay in interest over the life of your loan. That’s money saved in your pocket for years to come.

2. You Could Get a Lower Mortgage Rate

Providing a larger down payment shows your lender you’re more financially stable and not a large credit risk. The more confident your lender is in your credit score and your ability to pay your loan, the lower the mortgage rate they’ll likely be willing to give you. And that amplifies your savings.

3. Your Monthly Payments Could Be Lower

A bigger down payment doesn’t just help you reduce how much you have to borrow—it also means your monthly mortgage payment may be smaller. That can make your next home more affordable and give you a bit more breathing room in your budget.

4. You Can Skip Private Mortgage Insurance (PMI)

If you can put down 20% or more, you can avoid Private Mortgage Insurance (PMI), which is an added cost many buyers have to pay if their down payment isn’t as large. Freddie Mac explains it like this:

“For homeowners who put less than 20% down, Private Mortgage Insurance or PMI is an added insurance policy for homeowners that protects the lender if you are unable to pay your mortgage. It is not the same thing as homeowner’s insurance. It’s a monthly fee, rolled into your mortgage payment, that’s required if you make a down payment less than 20%.”

Avoiding PMI means you’ll have one less expense to worry about each month, which is a nice bonus.

Bottom Line

Down payments are at a record high, largely because recent equity gains are putting homeowners in a position to put more money down.

If you’re thinking about selling your current house and moving, reach out to a trusted real estate agent. They’ll help you figure out how much home equity you have right now, and how it can boost your buying power in today’s market.

Read more at KeepingCurrentMatters.com

Related Links

• The 20-minute trick that will help a carved pumpkin last for weeks

• Why Now’s Not the Time To Take Your House Off the Market

• Vintage Decor Is Making A Comeback

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Just Listed: Prime Location Near Meadowood Park with Ample Outdoor Space

Stop by to see what this home has to offer!

The house features a welcoming upper floor with a kitchen and a large dining room, perfect for gatherings. Off the kitchen, a door leads outside, where you can enjoy a cup of coffee on the deck or tend to your garden. The backyard is spacious and offers plenty of room for a large patio, games, RV parking, BBQs, or fetch with Fido! You can host Fire-pit Fridays with friends or relax in the hot tub. There are two bedrooms and a full bath on the upper level. Head downstairs to a spacious living room, perfect for movie or game nights. The lower level features a primary bedroom with its own 3/4 bath and an additional bedroom. Laundry is located on the lower level. Brand new energy-efficient windows throughout. The seller will pay off the solar at closing! This house is conveniently located near HWY 225, with the Cherry Creek Trail just a mile away and Meadowood Park right across the street. It's less than a 10-minute drive to Cherry Creek State Park.

Listed by Maggie Fast & Kendra Buck for West + Main Homes. Please contact Maggie or Kendra for current pricing + availability.

 

Have questions?
West + Main Homes
(303) 935-8787
hello@westandmain.com

Presented by:
Maggie Fast + Kendra Buck
Maggie:720-819-6677
Kendra: 303-828-8232
maggie@westandmainhomes.com
kendrab@westandmainhomes.com

 

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Just Listed: This stunning 4-bedroom, 4-bath residence combines contemporary design with cozy charm.

This stunning 4-bedroom, 4-bath residence combines contemporary design with cozy charm.

Step inside to discover a huge open floorplan that flows seamlessly between kitchen, living and dining spaces, perfect for gatherings with family and friends. The kitchen is the true heart of this home, featuring a spacious island with seating for four, abundant counter space and storage, a 36" stove/range, and a walk-in pantry. Adjacent to the kitchen, the warm and inviting dining room sets the stage for intimate meals. The spacious open living room features a beautiful gas fireplace, creating an elegant focal point, while large sliding glass doors seamlessly connect the indoors to the private patio and backyard. Upstairs, you'll find a luxurious retreat in the primary suite featuring an amazing spa-like bathroom and a private balcony with mountain views. To top it off, this stunning primary retreat includes massive his and hers dressing rooms/closets. The convenient laundry room is also located on this floor, along with two additional well-appointed bedrooms and an additional full bath. The versatile basement adds even more value, boasting a fourth bedroom and a full bathroom, along with ample space to tailor the area to your needs—whether it’s a home gym, playroom, or entertainment lounge. This home truly lives like a detached residence with the front door out of sight from the other side of the duplex and no bedrooms sharing walls with the other unit. The oversized attached two car garage is the icing on top! Every direction you turn there is opportunity to enjoy all this area has to offer. Just blocks from West 29th Restaurant and Bar, Panorama Park, Wheat Ridge Library and a short walk to all the shops and restaurants in booming Edgewater. A short ride east to Highlands Square and Sloan Lake and of course just west to all Wheat Ridge and Golden have to offer. Easy access to I-70 to enjoy the Rocky Mountains.

Listed by Sarah Riggs for West + Main Homes. Please contact Sarah for current pricing + availability.

 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Sarah Riggs
303-503-7186
riggs@westandmainhomes.com

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Just Listed: A Modern Remodel in a Coveted Englewood Neighborhood!

Welcome to your new home!

Situated on a quiet, tree-lined street in the heart of one of Englewood's most desirable neighborhoods! As you enter your fully remodeled home, you'll be greeted with vaulted ceilings and sunlight in the spacious formal living and dining room. Around the corner, your modern kitchen with oversized, new quartz center island awaits your holiday visitors to gather around and flow into the adjacent family room. The primary retreat invites you with its cozy built-ins for late night reading, modern and luxurious bathroom, and an abundance of closet space! The finished basement allows even more room to spread out and comes with a home theater system, a 4th bedroom, and another remodeled guest bathroom! Head outside to find your huge detached 2-car garage, tons of patio space for entertaining or playing, and a large fenced in yard with mature trees gracing the lawn! Plus, LOW-to-NO electric bills with seller owned solar! You'll enjoy everything you love about living near DU...parks, trails, South Pearl St. restaurants, shopping at the farmers market and an easy commute to Downtown Denver, DTC, DIA and the nearby foothills. This one-of-a-kind home is a rare find in one of Denver's most coveted neighborhoods! You are going to LOVE living here!

Listed by Janell Arant + Lisa Hoyer for West + Main Homes. Please contact Janell for current pricing + availability.

 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Janell Arant + Lisa Hoyer
Janell: 720-469-5332
Lisa: 720-276-7480
janell@westandmainhomes.com

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A guide to 2024 Colorado pumpkin patches, corn mazes and fall fun galore

Elk are bugling in Rocky Mountain National Park, juicy apples are waiting to be picked at Colorado orchards and golden yellow aspen leaves are dancing in the high country — sure signs that autumn has officially arrived.

What better way to usher in this new season than to get out and explore the Centennial State’s many pumpkin patches and corn mazes? Before your weekends totally fill up, scope out this list of quintessential fall activities.

A quick note: We did our best to include as many pumpkin patches, corn mazes and other fall happenings as we could, but we recognize that this list may not be complete. In addition, please check each venue’s website for the most up-to-date information.

BENNETT

Mile High Farms: Just 30 or so minutes from Denver, find 11 acres featuring two corn mazes, a petting zoo, antique tractor hayride, pumpkin patch, corn pits, playground, concessions and more. Hours: 10 a.m. to 6 p.m. Sat.-Sun. from Sept. 28 until Oct. 27. Cost: $13 for kids ages 5-12; $18 for adults ages 13-59; $15 for seniors, military, first responders and veterans; free for kids 4 and under. Pumpkins available for purchase. 11 Cavanaugh Road, Bennett, 720-560-0730; milehighfarms.com

BROOMFIELD

Rock Creek Farm: Meet farm animals, pick the perfect pumpkin and venture into the hay bale maze or one of the three corn mazes on this working farm. Hours: Open daily from 9:30 a.m. to 7 p.m. from Sept. 28 to Oct. 31 Cost: Free farm admission Tuesday-Thursday, with the option to purchase $8 corn maze tickets on site; $10 farm admission Friday-Monday, which includes the corn maze. Free for kids 3 and under every day. Pumpkins available for purchase. 2005 S. 112th St., Broomfield; 303-465-9565; rockcreekfarm.com

CAÑON CITY

Diana’s Pumpkin Patch: Activities include a maze, hay slide, duck races, climbing rope, hay ride, corn bine, horse bouncers, photo booth barn and pumpkin field. Hours: 10 a.m. to 9 p.m. Fri.-Sat., 9 a.m. to 6 p.m. Sun. from mid-September through Oct. 31. Cost: $15 per person; free for kids 5 and under; $13 on select military days and customer appreciation days; $38 season pass. Pumpkins, gourds and decor available for purchase. 1649 Poplar Ave., Cañon City, 719-821-9133; dianaspumpkinpatch.com

COLORADO SPRINGS

Long Neck Pumpkin Farm: Glide down the hay bale slide, climb into the sheep herder’s wagon, take a hayride and check out the farmer’s market. Hours: 10 a.m. to 5 p.m. Fri.-Sun. from Sept. 21-Oct. 27. Cost: $18, free for kids 23 months and under. Pumpkins available for purchase. 7595 California Drive, Colorado Springs, 719-551-0525; longneckpumpkinfarm.com

Miners’ Pumpkin Patch: Support the nonprofit Western Museum of Mining and Industry while also celebrating autumn. Enjoy the vintage cider press, gold panning, machine demos, hayrides, food trucks, hay maze, sack races and more. Hours: 9 a.m. to 4 p.m. every Saturday in October. Cost: $11 in advance, $13 at the door, free for kids 3 and under. Pumpkins available for purchase. Western Museum of Mining and Industry, 225 North Gate Blvd., Colorado Springs, 719-488-0880; wmmi.org

DENVER

Glow at the Gardens: See the Denver Botanic Gardens on York Street come to life after dark with hand-carved pumpkins, live performers and lights. Hours: 6-9 p.m. Oct. 22-27. Cost: $26-$32 for nonmembers; $24-$30 for members; $24-$30 for military; $28-$30 for students; free for kids 2 and under. Timed tickets must be purchased in advance.

Glow Before Dark: Can’t make it to Glow at the Gardens? Visit the York Street location of the Denver Botanic Gardens during the day instead to see spooky scenes like a graveyard, a field of scarecrows and skeleton displays. Hours: 9 a.m. to 4 p.m. Oct. 19-21 and 9 a.m. to 1 p.m. Oct. 22-27. Cost: Included with daytime general admission, which is $15.75 for nonmember adults; $12 for military and seniors 65 and up; $11.50 for students and kids ages 3-15; and free for members and kids 2 and under. 1007 York St., Denver, 720-865-3500; botanicgardens.org/events

Pumpkin Harvest Festival at Four Mile Historic Park: Spend the day enjoying live music and performances, munching on apple cider donuts, panning for gold, watching blacksmithing demonstrations and more. Hours: 9 a.m. to 5 p.m. Oct. 12-13. Cost: $22 for adults; $17 for kids ages 4-12; $45 for VIP package; $25 to build your own scarecrow. Prices go up Oct. 7.

Also at Four Mile Historic Park: Spirits & Spirits, a one-night, 21+ event featuring cocktails, drag bingo, performances, crafts and more. Hours: 6-11 p.m. on Oct. 26. Cost: $30 for nonmembers; $25 for members; $70-$75 VIP packages. Prices go up Oct. 20. 715 S. Forest St., Denver; 720-865-0800. fourmilepark.org/pumpkin-harvest-festival

ELLICOTT

Fall Fest Pumpkin Patch at Wishing Star Farm: Enjoy the hay slide, tire swings, corn bins, horseshoes, petting zoo, barrel train rides and more. Hours: 9 a.m. to 5 p.m. Saturdays and 10 a.m. to 4 p.m. Sundays for general public; 10 a.m. to 2 p.m. for groups, field trips by reservations and special events on most weekdays Sept. 24-Oct. 30. Cost: $14 for 4 and up; $12 for seniors 62 and up; free for kids three and under. Discounts available for groups and families; Military and first responders save 10% on Oct. 5-6. Season passes available. Pumpkins and add-on activities available for purchase. 24024 Highway 94, Ellicott, 719-244-7252; wishingstarfarm.com

ERIE

Fall Festival at Anderson Farms: Check out the 25-acre corn maze, barrel train, jump pad, pedal carts and trikes, hay bale pull, combine slide, farm animals and more. Hop on a wagon for a ride to the 25-acre pumpkin patch. Pumpkins available for purchase. Hours: Varies depending on the day from Sept. 25-Nov. 2; closed on Tuesdays. Cost: $17 for timed entry, $27 for anytime entry (date specific) Monday-Thursday; $29 for timed entry, $39 for anytime entry (date specific) Friday-Sunday; free for kids 3 and under; $99 for a season pass.

Terror in the Corn at Anderson Farms: See if you’ve got what it takes to make it through this spooky, mile-long attraction, which kicks off after the sun goes down. Hours: 7-10 p.m. Thursdays and Sundays, 7-11p.m. Fridays and Saturdays from Sept. 27-Nov. 2. Cost: $40-$44 for timed entry; $55-$59 for quick passes; $140 for platinum pass; admission to Fall Festival is included. 6728 County Road 3¼, Erie, 303-828-5210; andersonfarms.com and terrorinthecorn.com

ESTES PARK

Pumpkins & Pilsners Festival: Support the nonprofit Estes Park Education Foundation while having fun at this one-day bash, which includes food trucks, live music, pony rides, air tattoos, local craft beer and more. Hours: 11 a.m. to 6 p.m. on Oct. 5. Cost: Free admission. Pumpkins available for purchase. Bond Park, 170 MacGregor Ave., Estes Park; epeducationfoundation.org/pumkins-and-pilsners

Halloween Haunted Forest: Don your best spooky costume and wander through this family-friendly haunted forest. Hours: 7-10 p.m. Oct. 26. Cost: Free, $5 suggested donation. YMCA of the Rockies, 2515 Tunnel Road, Estes Park; ymcarockies.org

FRUITA

Moon Farm Pumpkin Patch: Meet cute animals at the petting zoo, wind your way through the straw maze, relax on a hay ride and pick out the perfect pumpkin to take home and carve. Hours: 10 a.m. to 7 p.m. daily from Sept. 29-Oct. 31. Cost: $7 suggested donation per person 4 and up. Pumpkins available for purchase. 1360 18½ Road, Fruita, 970-261-1113; moonfarm.net

GRAND JUNCTION

Studt Farms Pumpkin Patch & Corn Maze: Explore the corn mazes, climb to the top of Hay Mountain, ride the barrel train, race around in a pedal cart and so much more. Hours: Varies depending on the day from Sept. 28-Oct. 27, closed Mondays. Cost: $22-$48 for weekends; $12 weekdays; $74-$97 season passes; free for kids 2 and under; group rates available. Additional fees for some activities. Pumpkins available for purchase. 21½ and I½ Road, Grand Junction, 970-305-9006; studtspumpkinpatchandcornmaze.com

HUDSON

Mazzotti Farms Pumpkin Patch and Corn Maze: Take the family through the 10-acre, scare-free corn maze, pick out a pumpkin, meet animals at the petting zoo and play games. Hours 10 a.m. to 5 p.m. every weekend in October. Cost: $20 per person, which includes one pumpkin; free for kids under 2; $50 to make a scarecrow. Additional pumpkins available for purchase. 24120 Weld County Road 8, Hudson, 303-536-4089; mazzottifarms.com

LAFAYETTE

Cottonwood Farms: Get in the fall spirit at Cottonwood Farms, which has a corn maze, a straw maze, vintage farm equipment, farm animals and more. Hours: 10 a.m. to 6 p.m. daily Sept. 21-Oct.31. Cost: $8 admission for adults, plus $5 wagon rides; admission and wagon rides free for seniors 65 and up and kids 5 and under. Pumpkins, winter squash and decor available for purchase. 10600 Isabelle Road, Lafayette, 720-890-4766; cottonwoodfarms.com

LASALLE

Fall Festival at Fritzler Farm Park: This popular Weld County spot has corn mazes, pedal go-carts, a beer garden, a slide mountain, tons of photo opps and more. Hours: Select dates Sept. 15-Oct. 27, timed entry tickets. Cost: $24.95-$41.95 online, $34.95-$51.95 at the gate. Additional fees for some activities.

Scream Acres at Fritzler Farm Park: Do you dare? Test your mettle at this spooky, immersive experience (which is not recommended for kids under 13). Hours: Select dates Sept. 21-Oct. 27. Cost: $39.95 general admission, $59.95 VIP admission. Ticket includes access to some Fall Festival attractions. Additional fees for some activities. 20861 County Road 33, LaSalle, 970-737-2129; fritzlermaze.com and fritzlerscreamacres.com

LITTLETON

Pumpkin Festival at Chatfield Farms: This three-day bash at the Chatfield Farms location of the Denver Botanic Gardens includes a 10-acre pumpkin patch, a corn maze, artisan booths, live music, food trucks, an antique tractor exhibit, photo booths and more. Hours: 9 a.m. to 4p.m. Oct. 11-13. Timed entry tickets, must purchase online in advance. Cost: $12-$18 for nonmembers; $10-$16 for members, military and students; free for kids 2 and under. Additional fees for some activities. Pumpkins available for purchase.

Corn Maze at Chatfield Farms: Also at the the Chatfield Farms location of the Denver Botanic Gardens, this year’s 7-acre pumpkin patch has a Colorado wildlife theme with bears, moose, mountain lions and other creatures. View it from the 15-foot-tall bridge, or explore it on foot. There’s a corn mini-maze for kids under the age of 10. Hours: 9 a.m. to 5 p.m. Fri.-Sun. Sept. 20-Oct. 27. Cost: $12-$18 for nonmembers; $10-$16 for members, military and students; free for kids 2 and under. Timed entry tickets, must purchase online in advance. Denver Botanic Gardens Chatfield Farms, 8500 W. Deer Creek Canyon Road, Littleton, 720-865-3501; botanicgardens.org/events

Magic of the Jack O’Lanterns at Hudson Gardens: Marvel at thousands of illuminated, hand-carved pumpkins, enjoy a sweet treat at the s’mores stations and take lots of family photos. Hours: Select nights through Nov. 2. Cost: $23.99+ for adults and $18.99+ for kids ages 3-12 for general admission line; $38.99+ to skip the line; group rates available; ticket pricing is variable and will increase closer to selected date. 6115 S. Santa Fe Drive, Littleton. 720-802-0006 or denverhelp@magicofthejackolanterns.com; magicofthejackolanterns.com

LONGMONT

Rocky Mountain Pumpkin Ranch: Take a leisurely stroll through the pumpkin patch, shop the produce market and enjoy a picnic lunch. On the weekends, you can do all those things, plus ride the dragon roller coaster, glide down the fire truck slide, take a pony ride and so much more. Hours: 9 a.m. to 6 p.m. daily from Sept. 26-Oct. 30; carnival activities on weekends only. Cost: Free admission; fees for à la carte activities. 9059 Ute Highway/CO 66, Longmont; rockymtnpumpkinranch.com

MONUMENT

Colorado Pumpkin Patch at Colorado Kids Ranch: Spend a festive day on this 40-acre farm, which has jumping pillows, large-scale games, slides, an animal petting area and more. Hours: Various dates and times from Sept. 18-Nov. 2., check the website for calendar. Cost: $16-$20 per person; $14-$17 for seniors 65 and up, active/retired military and first responders; $50 for a season pass. Additional fees for some activities. Pumpkins available for purchase. 2205 E Hwy 105, Monument, 719-799-6708; coloradopumpkinpatch.net

PLATTEVILLE

Fall Harvest Festival at Miller Farms: Learn what life is like on a real working farm with a visit to Miller Farms, where you can meander through a corn maze, enjoy a picnic lunch and check out antique tractors, among other activities. Hours: 9 a.m. to 6 p.m. daily through mid-November. Cost: Free admission, $18-$28 per person for hayride into the 180-acre field; free for kids 4 and under. Group rates and homeschool days available. Veggies and pumpkins available for purchase. 13912 CR 19, Platteville, 970-785-6133; millerfarms.net

THORNTON

Maize in the City: Built into a 40-acre corn field, this outdoor attraction has been attracting Colorado families since 2001. Activities include a 20-acre corn maze, a mini maze, sand art, bouncers, face painting, a barrel train and so much more. Hours: Various dates and times from Sept. 21-Oct. 31, check the website for calendar. Cost: Free admission; fees for à la carte activities. 10451 McKay Road, Thornton; maizeinthecity.com

Read more at DenverPost.com

Related Links

• The 20-minute trick that will help a carved pumpkin last for weeks

• Why Now’s Not the Time To Take Your House Off the Market

• Vintage Decor Is Making A Comeback

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

Search Homes in Colorado

Search Homes in North Carolina

Search Homes in Oklahoma

Search Homes in Minnesota