Ironbridge housing south of Glenwood Springs not so affordable
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You promptly decided that the 20 three-bedroom, two-bath homes between Carbondale and Glenwood Springs were beautiful. You loved the garage. You knew the kids would love growing up with a pool and basketball courts nearby. You wondered if you might even be able to afford a membership to the golf course one day.
And let’s say a perfect storm of circumstances makes you eligible for the house: you meet the $53,200 income cap for a family of four, you have the 20 percent of the $230,000 house in cash ($46,000), which you’ve painstakingly saved over the years.
You have no other substantial monthly debt (which could make you ineligible for the loan by raising your debt-to-income ratio). Love Song And you qualify for a 30-year mortgage with a 6.5 percent interest rate.
Love Song But you might wish to take a deep breath before applying for one of the first 10 houses by the Aug. 29 deadline: Statistics say you likely can’t afford that house.
