Whether you are looking to refinance in Denver or purchase a home in Colorado Springs, I am more than excited to provide my clients in Colorado and California with a world class lending experience!
Contact me direct at 303.668.3350 or apply now!
Contact me direct at 303.668.3350 or apply now!
Adjustable Rate Mortgage
With an adjustable rate mortgage, the interest rate may change periodically, usually in relation to a prescribed index such as the London Interbank Offered Rate, or LIBOR and payments may adjust up or down accordingly.
Unlike a fixed rate mortgage, homeowners with this type of home loan are not guaranteed the same interest rate for the duration of their loan. The risk of an increasing interest rate is something borrowers should take into account when considering an adjustable rate mortgage for their home mortgage financing.
Adjustable rate mortgage have interest rates that are fixed for a period of 3, 5, 7 or 10 years. After the fixed rate period expires, your interest rate may change depending on market conditions.
Adjustable Rate Mortgage Benefits:
Before you decide to apply for this mortgage call me to go over, in detail, the risks associated with this type of mortgage product.
Unlike a fixed rate mortgage, homeowners with this type of home loan are not guaranteed the same interest rate for the duration of their loan. The risk of an increasing interest rate is something borrowers should take into account when considering an adjustable rate mortgage for their home mortgage financing.
Adjustable rate mortgage have interest rates that are fixed for a period of 3, 5, 7 or 10 years. After the fixed rate period expires, your interest rate may change depending on market conditions.
Adjustable Rate Mortgage Benefits:
- Maximize home buying power
- Lower initial interest rate
- Lower initial payment
Before you decide to apply for this mortgage call me to go over, in detail, the risks associated with this type of mortgage product.
Fixed Rate Loan
A fixed rate mortgage is one where the interest rate remains the same throughout its duration. This differs from a loan where the interest rate may change over time, such as an adjustable rate mortgage. Fixed rate mortgages are the most popular form of home loan in the United States largely due to the appeal of a consistent mortgage payment amount over the life of the loan.
In many instances, fixed rate mortgages have higher mortgage payments than adjustable rate mortgages. This is most often because the interest rate remains unchanged for the duration of the loan. Typically, loans with longer terms will have a higher interest rate than loans with shorter terms due to interest rate risk, or the possibility of fluctuating interest rates.
Fixed Rate Mortgage Benefits:
In many instances, fixed rate mortgages have higher mortgage payments than adjustable rate mortgages. This is most often because the interest rate remains unchanged for the duration of the loan. Typically, loans with longer terms will have a higher interest rate than loans with shorter terms due to interest rate risk, or the possibility of fluctuating interest rates.
Fixed Rate Mortgage Benefits:
- Interest rate remains the same
- The principal and interest portion remains the same
FHA Loan (Federal Housing Administration)
The FHA mortgage is designed to help home buyers with a low down payment option.
The Federal Housing Administration (FHA) is a government entity that offers mortgage insurance on loans made by FHA approved lenders. FHA provides insurance on mortgages for many different types of homes including single family residences and multifamily homes. FHA is completely funded and there is no cost to taxpayers for its operation and services.
FHA loans are designed to help first time home buyers and even experienced homeowners by providing a low down payment option. FHA private mortgage insurance serves as protection for lenders in the event of a homeowner defaulting on their home loan.
FHA Loan Benefits include:
FHA insured loans often give potential homeowners the option of making a lower down payment than they would need to make if using a traditional, non FHA insured mortgage.
The Federal Housing Administration (FHA) is a government entity that offers mortgage insurance on loans made by FHA approved lenders. FHA provides insurance on mortgages for many different types of homes including single family residences and multifamily homes. FHA is completely funded and there is no cost to taxpayers for its operation and services.
FHA loans are designed to help first time home buyers and even experienced homeowners by providing a low down payment option. FHA private mortgage insurance serves as protection for lenders in the event of a homeowner defaulting on their home loan.
FHA Loan Benefits include:
- Down payments as low as 3.5%
- Loan is guaranteed by the government
- Less than perfect credit
FHA insured loans often give potential homeowners the option of making a lower down payment than they would need to make if using a traditional, non FHA insured mortgage.
USDA Rural Development Loan (US Department of Rural Development)
The USDA loan is originated to encourage rural land development and residential growth in rural areas.
The USDA (United States Department of Agriculture) manages a program whereby a buyer can borrow up to 102% of the home’s appraised value, thus eliminating a down payment. This program is only available in certain non urban geographic locations however this can include small towns and villages close to larger cities.
USDA loans are designed to encourage rural land development and growth in rural areas. They were long thought of as just for farmers, but the program has been expanded in recent years to give more people looking to purchase or refinance in a rural area access to the incredible benefits offered by these loans.
USDA Loan Eligibility
USDA Loan Benefits
The maximum income limit depends on the cost of living, median income and other economic characteristics of the county the property is located in.
The USDA (United States Department of Agriculture) manages a program whereby a buyer can borrow up to 102% of the home’s appraised value, thus eliminating a down payment. This program is only available in certain non urban geographic locations however this can include small towns and villages close to larger cities.
USDA loans are designed to encourage rural land development and growth in rural areas. They were long thought of as just for farmers, but the program has been expanded in recent years to give more people looking to purchase or refinance in a rural area access to the incredible benefits offered by these loans.
USDA Loan Eligibility
- Property must be in a rural area as defined by the USDA
- Property is owner-occupied
- Second homes are not eligible
- Meet the income restrictions for the county the property is located in
USDA Loan Benefits
- 100% financing option
- No down payment needed
- Great rates and down payment options
- Better terms than a FHA or conventional
- Flexible credit guidelines
The maximum income limit depends on the cost of living, median income and other economic characteristics of the county the property is located in.
VA Home Loan (Veterans Affairs)
The VA Loan Designed for America's Heroes. Veterans are eligible for VA loans with zero down payments.
VA loans are a special type of home mortgage reserved for active military members and Veterans. VA home loans are guaranteed by the U.S. Department of Veterans Affairs and offered by participating approved lenders. VA loans allow eligible veterans and active military personnel to realize their home buying dreams and help existing VA homeowners with money-saving refinance options.
The program is also available to the unmarried surviving spouse of a veteran who died on active duty or because of a service-related disability. Credit requirements are generous and flexible.
VA Loan Certificate of Eligibility
In order to apply for a VA sponsored loan, you will need to obtain a Certificate of Eligibility (COE). Your COE verifies to lenders that you meet the requirements necessary to obtain a VA sponsored loan. Applying for a COE is straightforward and can be done online, through the mail or through a lender.
Active duty military personnel and current National Guard members or Reservists who have never been Federal active service will need to present a current statement of service in order to obtain a COE.
Veterans and current or former National Guard members and Reservists that have been activated for Federal active service will need to present a DD Form 214 confirming their past service.
VA Loan Benefits
VA Loan Eligibility
I am committed to our America's true heroes and look forward to being of service to you! Click here to apply now!
VA loans are a special type of home mortgage reserved for active military members and Veterans. VA home loans are guaranteed by the U.S. Department of Veterans Affairs and offered by participating approved lenders. VA loans allow eligible veterans and active military personnel to realize their home buying dreams and help existing VA homeowners with money-saving refinance options.
The program is also available to the unmarried surviving spouse of a veteran who died on active duty or because of a service-related disability. Credit requirements are generous and flexible.
VA Loan Certificate of Eligibility
In order to apply for a VA sponsored loan, you will need to obtain a Certificate of Eligibility (COE). Your COE verifies to lenders that you meet the requirements necessary to obtain a VA sponsored loan. Applying for a COE is straightforward and can be done online, through the mail or through a lender.
Active duty military personnel and current National Guard members or Reservists who have never been Federal active service will need to present a current statement of service in order to obtain a COE.
Veterans and current or former National Guard members and Reservists that have been activated for Federal active service will need to present a DD Form 214 confirming their past service.
VA Loan Benefits
- No penalty fee if the loan is paid off early
- No private mortgage insurance
- Less than perfect credit can apply
- VA may provide some assistance if there are mortgage payment problems
VA Loan Eligibility
- Active-duty military
- Veterans
- Reservists
- Members of the National Guard
- Some surviving spouses of veterans
I am committed to our America's true heroes and look forward to being of service to you! Click here to apply now!
HomeReady® Mortgage
The HomeReady® mortgage is designed to meet the diverse family and financial situations of credit worthy applicants.
Fannie Mae (Federal National Mortgage Association) offers an enhanced, affordable lending product, the HomeReady® Mortgage as with down payments as low as 3%.
The HomeReady® mortgage is an innovative loan product and income from any household member other than the actual buyer will be taken into account for eligibility. Also, family members who don’t live on the property can be co borrowers on the loan. This enables parents to assist their children in qualifying for a mortgage to purchase that first home. Rental payments from an apartment in the home may also help qualify an applicant.
The HomeReady® Mortgage
HomeReady® Mortgage Benefits
Contact me today at 303.668.3350 for more information about the HomeReady® loan product!
Fannie Mae (Federal National Mortgage Association) offers an enhanced, affordable lending product, the HomeReady® Mortgage as with down payments as low as 3%.
The HomeReady® mortgage is an innovative loan product and income from any household member other than the actual buyer will be taken into account for eligibility. Also, family members who don’t live on the property can be co borrowers on the loan. This enables parents to assist their children in qualifying for a mortgage to purchase that first home. Rental payments from an apartment in the home may also help qualify an applicant.
The HomeReady® Mortgage
HomeReady® Mortgage Benefits
- Low down payment
- No minimum borrower contribution
- Non occupant borrowers allowed
- Homeowner education
Contact me today at 303.668.3350 for more information about the HomeReady® loan product!
Refinance
Refinance your mortgage when interest rates are low. This can help save money.
There are a few types of refinance mortgage loans:
Whether your are looking to reduce your mortgage payment and save money each month or do a cash out refinance, there are many factors to consider. Call me today, 303.668.3350 or apply now. I will help you to evaluate whether it make sense to refinance for your specific situation.
Reasons to Refinance:
Call me today 303.668.3350 for more details on any of the above mortgage loan programs. Click here to apply now!
There are a few types of refinance mortgage loans:
- Rate and Term Refinance
- Cash Out Refinance
Whether your are looking to reduce your mortgage payment and save money each month or do a cash out refinance, there are many factors to consider. Call me today, 303.668.3350 or apply now. I will help you to evaluate whether it make sense to refinance for your specific situation.
Reasons to Refinance:
- Reduce your interest rate
- Reduce your monthly mortgage payment
- Shorten the term of the loan
- Consolidate debt
- Converting between ARMs and fixed rate loans
- Access home equity for improvements, etc.
Call me today 303.668.3350 for more details on any of the above mortgage loan programs. Click here to apply now!
