What can you do with the money from a cash-out refinance?
Buying a new home in Colorado, with a conventional mortgage, should be an exciting moment in your life. At Colorado Loan Experts, we make it easy on our clients by issuing a pre-approval in 5-min and closing your loan in as little as 14-days. There is a reason that real estate agents all over Colorado refer us to their clients. We close on time, every time and we get their clients the lowest mortgage rates on the best conventional home loan possible. For Colorado borrowers with good credit and a consistent history of income, a conventional home mortgage may be the best option for you.
The Most Popular Mortgage
Conventional home loans are the single most popular mortgage type in Colorado and across the United States. Conventional mortgages offer low down payment options from 3% and up. With less than 20% down payment you will need to pay monthly PMI(Private Mortgage Insurance) or pay a one-time PMI premium at closing. Colorado Loan Experts will work with you to determine the down payment amount that works best for your situation. There are also various loan terms you can choose from, 15-year and 30- year mortgages are the most popular. A conventional mortgage is not insured or guaranteed by the government- like FHA, USDA, or VA home loans.
Getting Coloradoans The Best Mortgage Rates
When you buy a home in Colorado, you want to get the best mortgage rate for your home loan. Conventional mortgages offer both fixed interest rates and adjustable mortgage rates. A fixed interest rate will remain the same for the duration of your home loan. An adjustable rate mortgage(ARM) stays fixed for shorter amount of time then adjusts to current mortgage rate levels- these could be higher or lower mortgage rates. Adjustable rate mortgages may be a good option if you don’t plan on staying in your home for a long time.
Your pre-approval is just the very first step in the home loan process, so you have to make sure to keep all of your other paperwork together and available for when you’re ready to buy. Being prepared will speed up the process immeasurably, so we’re not waiting on paperwork to finish. We can close for a prepared buyer in two weeks.
When we have completed the pre-approval, we will use the information that we gathered to find the loan amount that works best for your situation.
We work hard to make it easy on you. Nobody gets lower rates on better loans than Colorado Loan Experts.
The Andrew Brockmire Team – Colorado Loan Experts 201 Columbine Street Suite 300 Denver, CO 80206