We offer the following personalized mortgage loans, refinancing options and services

If you have any questions about the following, feel free to give us a call! 303-650-8800

 

FHA Loans

This government-insured loan program is extremely popular for home buyers and home owners alike. Some of the perks of this program is:

  • 3.5% down payments
  • Lower credit scores acceptable (620 or higher)
  • First-time home buyers may be able to obtain down payment assistance
  • Co-signers are allowed to help you qualify

Conventional Loans

This type of loan uses your credit score and the amount of the loan vs. the value of the property to determine the interest rate. Generally, this is the best deal when you have at least 10% to put down on a purchase.

  •  As low as 3% down payments
  • Credit scores of at least 620 or higher
  • If you put less than 20% down, you will have to pay mortgage insurance
    • We could also package a custom 1st & 2nd mortgage with at least 10% down
  • Co-signers are OK

Investment Property Loans

There are several programs to finance loans for rental properties or second homes.

  •  20% down for rental properties, 10% down for second homes
  • Rental properties have rates 0.5 to 0.75 % higher than primary residences
  • Second homes/vacation homes with 10% or more down have rates the same as a primary residence

VA Loans

This program is for eligible Veterans. This is the best option if you can't put 10% or more down or due to credit scores, conventional loan products are more expensive.

  • Available with 0% down
  • Fees are less expensive than with FHA or conventional loans

First-Time Home Buyers Who Need Financial Assistance

There are some special programs available for first-time home buyers, but not as many as there used to be.

  • Most first-time buyer programs are income restricted
  • Down payment assistance is available in the form of a small second mortgage
  • Down payments of a minimum of $1000 are required
  • These programs are all made possible by national and/or local governments and can vary from county to county
  • These programs require additional property inspections and underwriting regulations

Refinancing a Home Loan

There are several reasons to refinance, which include but are not limited to:

  • getting a better rate and/or lowering your mortgage payments
  • getting cash out for home remodeling or debt consolidation
  • getting rid of mortgage insurance due to an increase in home value
  • getting cash out to purchase a rental property to diversify your investments

Credit Score Guidance

Credit scores are an important part of qualifying for a mortgage, but if your scores are low, don't lose hope! We offer complimentary credit guidance if your scores don't currently allow you to qualify or in knowing that a higher credit score will get you a better rate.

  • Some programs accept scores as low as 580 (they have additional, more restrictive guidelines than for programs requiring scores over 620)
  • Keep in mind that consumer credit reports use different scores than the reports used for the mortgage industry (which is different still from the ones they use at the car dealership and so on)
  • If you have a current credit report, send it over and we can discuss with you ways to help improve your score. Many times it doesn't take much effort to get higher scores.