Financing
Financing a home is an extremely important decision that requires careful planning and attention to all details. As someone who deals with buying and selling homes on a regular basis, I can assist you in finding the perfect lender to suit your needs. There are many real estate lenders and Brokers. Let me help you find one that will work as hard as possible to give you the best financing terms and fees available. I can compare the various lender's fees and interest rates to make sure you are getting the best loan product for the lowest cost.
Type of Loans:
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Fixed Rate Loans
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Loan Program
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Reason to Choose It
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Key Features
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Basic 30 or 15 year fixed rate loans
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You want the stability of a fixed principal/interest payment over the life of the loan.
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Down payments as low as 3% and can be structured with a second mortgage to avoid mortgage insurance.
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No down payment loans
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For borrowers with limited or no down payment who want to purchase a home. High credit and qualification required for these types of loans.
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Combines first and second mortgage to use as equivalent for 20% down to avoid mortgage insurance. Can also be set up as 100% loan with no mortgage insurance.
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Low down payment loans with little or no closing costs
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You want to put just 3% or 5% down and have little or no closing costs
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Can be structured without mortgage insurance.
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Adjustable Rate Mortgages
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Basic 1/3/5/7 year ARM
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You want to start with a lower payment or want to buy more home. You plan to move or refinance with a few years
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Fixed rate for 1, 3, 5, or 7 years, then adjusts annually based on a financial index
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Option ARMS
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You want to have the flexibility to choose the amount of your payment each month
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Four payment options each month:
1. Minimum Payment
2. Interest-only Payment
3. Fully Amortized Payment
4. 15 Year Payment
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Outside of Denver there are some other National websites you should visit to learn more about financing your home.
Federal Housing Administration (FHA)
The Federal Housing Administration (FHA) is an agency of the federal government that insures private loans that are issued for new and existing housing. This agency also makes sure that loans are approved for repairs too. To find out if you are eligible for an FHA-insured loan, contact me today!
Mortgage Bankers Association of America - Consumer Information
The Mortgage Bankers Association of America is the main association that represents the Real Estate Finance Industry. This consumer information site contains serveral guides for purchasing or refinancing a home.
Freddie Mac Homebuying Education
Freddie Mac is a publicly held company designed by Congress to help to increase the supply of funds that mortgage lenders can make available to homebuyers and investors. This website has step-by-step tutorials on the homebuying process, as well as a lot of useful information!
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