Aurora Mortgage Programs – Purchase & Refinance
The City of Aurora is the 3rd largest city in the State of Colorado with a population of 325,000k+ residents. Aurora stretches across three counties including Adams, Arapahoe and Douglas County. The city is mainly composed of suburban areas and subdivisions. Most properties are single family homes, townhomes and condos. The City of Aurora is basically split into two parts – North Aurora and South Aurora. Real estate in the southern part of Aurora(Arapahoe County) is usually more expensive and may be more high-end than North Aurora(Adams County).
Aurora can be a great place to live for many reasons but one reason in particular is its location. It is located almost in the middle of everything that’s important in the Denver Metro Area. In most cases, you will be close to a highway and you’re only 25-35 minutes away from Downtown and 15-20 minutes from DTC(Denver Tech Center). Also, traffic in Aurora is usually very reasonable compared to other parts of Denver so getting around may be more convenient than other areas.
Property values in Aurora have risen tremendously since 2014. Unfortunately, in 2017 inventory is still low and prices are continuing to rise. Listings are limited especially under $200,000. One nice thing about Aurora is that traditionally home prices are slightly lower than the surrounding cities such as Centennial or Greenwood Village but you still get the same benefits of living in a safe and well maintained neighborhood. Aurora is not located in a flood zone and property taxes are low compared to other Cities in the State. All of this results in a lower monthly mortgage payment for home-buyers. Learn more about purchase programs.
Property values have skyrocketed in Aurora this past year. Due to this appreciation and rise in equity, Aurora homeowners can now refinance to remove mortgage insurance, lower their interest rate or get cash-out to consolidate debt or get cash at closing. We are expecting property values to continue to rise in 2015 but mortgage rates will probably rise as well. If you’ve considered refinancing, rates are still very low so this may be a good time to do something with your loan. Learn more about refinance programs.
South Aurora is considered by many to be the better party of the city due to lower crime and a better school district. North Aurora has improved drastically in the past few years but one distinct advantage that South Aurora has over North Aurora is the school district. Cherry Creek Schools is considered one of the top districts in the State. Another benefit of living in South Aurora are the low property taxes. Both North and South Aurora have low property taxes but South Aurora is located right next to newer heavily taxed cities like Centennial/Greenwood Village. This means you can live right next door in a newer neighborhood but pay half the property taxes. One downside to South Aurora is that it’s a little further out from the Denver Metro Area resulting in a little bit more travel time if you like going Downtown. Home prices in South Aurora will typically be higher than North Aurora.
North Aurora is a little older so majority of the single family homes were built between 1970 and the early 90’s. In the past, North Aurora had a fairly poor reputation. In recent years though, our State government has invested a lot of man-hours and money to improve some of the rougher areas in that part of the city. Our police department has also done a great job getting rid of all the gangs that lingered for many years through out the 1990’s and early 2000’s. In 2014, we can comfortably say that North Aurora can be a great place to live and raise a family. North Aurora also has many employment opportunities including small and corporate businesses, Buckley Air force Base, Lockheed Martin and various medical facilities such as Anschutz Medical Center and Children’s hospital. If you have children going to school, Aurora Public Schools will most likely be the school system in that area.
Other Cities Surrounding Aurora
*NOTE* Properties located in Aurora, Colorado are NOT eligible for USDA financing. Regular FHA, conventional, VA and other conforming programs are okay.
Take a look at the Aurora, Colorado Wikipedia page for more detailed info regarding transportation, education and demographics.
Aurora, Co Housing Authority
2280 S. Xanadu Way
Aurora, CO 80014
720. 251. 2100 Phone