Douglas County Assessor data shows the median single-family sale in Castle Rock hit $652,000 in March 2024, a 4.1% jump from 2023 yet still trailing the 9% spike seen in 2021. Entry-level inventory—homes under $550,000—represents only 18% of active listings, so competition is fiercest for two-bedrooms near Founders Parkway and 5th Street. New construction is humming along Meadows Parkway and Crystal Valley Parkway, where builders like Richmond American and Lennar offer rate-buydown incentives up to 3-2-1 structures, but lot premiums can add $75,000 to the base price. Because Castle Rock straddles the urban-growth boundary, zoning is tight; expect 95% of builds to be stick-built single-family rather than condos, keeping HOA dues low but limiting sub-$400k options. Appreciation has cooled from the double-digit frenzy to a steady 3–5% trajectory, allowing appraisals to keep pace with aggressive offer prices—good news for buyers using low-down-payment programs.

• Average days on market: 17 (spring season)
• List-to-sale ratio: 101.3%
• Share of cash buyers: 19%
• Median lot size: 0.21 acres inside town limits

First-Time Buyers: Look at condos around Perry Street and the new walkable downtown lofts; prices start at $385k and qualify for FHA’s 3.5% down. The HOA maintains snow removal—crucial for buyers transitioning from Denver apartments.

Growing Families: Plum Creek and Terrain offer top Douglas County RE-1 schools (Plum Creek Elementary rated 9/10) and 3–4-bed floor plans from $550k–$700k. Many homes back to greenbelts with trail access to East Plum Creek.

Veterans & Acreage Seekers: South of Crystal Valley Parkway zoning opens to 2–5 acre horse properties. VA buyers can roll closing costs into the loan and still finance a barn; we recently closed a $0-down deal at 5.875% on a 4-bed with a 4-stall barn.

Luxury & Custom: The Timbers at Castle Rock Golf Club and Sapphire Pointe feature $1M–$2M estates. NMHL’s jumbo program goes to $3M with 10% down and 700 credit, and we allow asset-depletion income for retirees.

Investors: North of downtown, older 1970s ranches on 0.3-acre lots can be picked up for $525k, renovated for $75k, and rented at $3,200/month. Our DSCR investor loans qualify the property at 1.0x rent ratio, not your personal income.

Castle Rock buyers can stack multiple layers of assistance, but timing and loan type matter. Here’s how NMHL engineers the best combination:

CHFA FirstStep + Turnkey Grant: State-wide program gives 4% of the loan amount as a forgivable grant when paired with FHA, VA, or USDA. On a $500k purchase that’s $20k—enough to cover the 3.5% FHA down payment plus a chunk of closing costs. Income cap for Douglas County is $125,100 for 2024.

Douglas County Workforce Housing Deed Restriction: Buy at 4% below market in exchange for a 10-year deed restriction limiting annual appreciation. Works well with NMHL’s 3% conventional grant, bringing total out-of-pocket to under $2,000.

Castle Rock Employer-Assisted Housing: Town employees, teachers in DCSD, and healthcare workers at AdventHealth can receive $7,500 through payroll repayment over five years at 0% interest. We underwrite the repayment into your DTI so you still qualify.

Colorado Military & Veteran Grant: Veterans can combine VA $0-down with the state’s $5,000 Military Family Home Grant; we front the grant so it shows up on the closing statement as a lender credit, meaning no post-closing reimbursement headaches.

Native American Direct Loan (NADL): Federally recognized tribal members can buy anywhere in Douglas County—including Castle Rock—with $0-down and no PMI at rates typically 50 bps below standard VA. NMHL is an authorized NADL correspondent.

Douglas County’s mill levy for Castle Rock averages 55.7 mills, translating to roughly 0.55% of assessed value—about $3,575 yearly on that $650k median home. Compare that to Denver’s 0.65% or Boulder’s 0.72%, and Castle Rock saves you $700–$1,100 a year. Tax bills arrive in January with half due by March and the balance by October; NMHL can set up an escrow-free option if you put 20% down, letting you earn interest on your own reserves.

Insurance runs higher because of hail and wildfire risk. Premiums on a $500k frame home average $2,400/year, but if your roof is Class-4 impact-resistant you can shave off 25%. We partner with local carriers who provide the roof discount certificate same day as inspection, trimming $50 off your monthly payment—effectively boosting buying power by $10k.

HOA fees range from $0 on older west-side lots to $125/month in the Meadows; new Timbers memberships can hit $350 but include golf-course maintenance. We include these exact figures in your debt-to-income calculation upfront so you don’t fall in love with a house only to learn the HOA pushes you over the 50% DTI limit.

Well & septic are common on 2+ acre parcels. Budget $350 for a well-flow test and $550 for septic inspection—NMHL’s preferred vendors book within five days, keeping your 21-day close on track.

Douglas County RE-1 is Colorado’s third-largest district and consistently posts ACT scores above state averages. Elementary schools zoned for Castle View High (Plum Creek, Northridge, Founders) feed neighborhoods where 10-year appreciation has averaged 5.9% versus 4.2% for areas feeding Douglas County High. Translation: buying inside the Castle View boundary added roughly $42k in equity over the last decade.

Newer developments east of I-25—Terrain, Bison Ridge, Castlewood Ranch—are assigned to Rock Canyon High, rated 10/10 by GreatSchools, pushing premiums to $50 psf over west-side equivalents. NMHL factors these resale stats into your refinance analysis; we project breakeven at 27 months when buying in Rock Canyon zones, 34 months elsewhere.

Charter options like American Academy and STEM School draw families from Littleton and Parker, creating rental demand. Investors can count 75% of projected lease income toward qualification on our DSCR loans; typical 4-bed homes rent for $3,000–$3,400, covering a $475k loan payment at today’s rates.

Bad Credit / Recent Credit Events
Our FreshStart FHA allows scores to 580 just 12 months after Chapter 13 discharge, 24 months after foreclosure. We manually underwrite each file and accept alternative credit—think your $200 monthly storage-unit payment at Castle Rock Self Storage—so long as you have three tradelines for 12 months.

Self-Employed / Gig Economy
Bank-statement qualifiers average 24 months of deposits, no tax returns needed. We add back depreciation on your RV used for weekend shows at the Douglas County Fairgrounds, boosting income by an average 18%. Loan amounts to $1.5M with 10% down.

Veterans & Active Duty
Other than NADL, we offer VA IRRRL refinances with no appraisal or income docs—close in 10 days and skip two payments while rolling in closing costs. Surviving spouses can still access $0-down even if the veteran never used the benefit; we recently helped a widow buy a $600k ranchette east of town with $0 out-of-pocket.

First-Time Buyers
Combine our 3% conventional grant with seller concessions up to 6% and CHFA’s 4% Turnkey grant; we routinely close with the buyer bringing $1,500 total on a $450k purchase. Free homebuyer education classes happen monthly at the Philip S. Miller Library—completion knocks 0.125% off your rate.

Investors
DSCR loans qualify on rental cash flow, not personal income. We allow short-term rentals (think Airbnbs near Outlets at Castle Rock) with 20% down and 1.0x rent coverage. Close in an LLC and still get a 30-year fixed rate only 75 bps above owner-occupier pricing.