Welcome to your Colorado Loan Headquarters!  Do you want to buy a home in Colorado? Would you like to refinance?  Are you still deciding which option to choose?

Our goal is to help you, the borrower, determine the best loan program to meet your needs.  Below you will find a brief description of the most common types of loan programs.  Each program has additional nuances that we will address during your loan application and processing.

At any point, feel free to e-mail or call us regarding any questions you may have.  We are here to personally help you through the entire home financing process.

Conventional Loans

A conventional loan is generally available to people who aren’t financially restricted to a VA, FHA or USDA loan.  These loans will have higher credit, income and reserve requirements than the government-based programs.  Conventional loans may be used for a primary residence, second home or investment properties.

Reverse Mortgage Loans

These loans are widely misunderstood and received some very bad press many years ago due to dishonest lenders.  However, for borrowers who are at least 62 years of age, these mortgages can provide a way to “age in place” or to use the equity in their home to invest in other areas.  Reverse Mortgage loans may be used to purchase or refinance a primary residence.

VA Loans

These loans are generally available only to borrowers who have served in the U.S. Military.  A VA loan allows a qualified veteran to buy a home with no down payment or a low down payment.  The veteran pays a funding fee that varies depending upon their veteran status and whether they are a first-time user of the program or a repeat user.  This loan program is most appropriate and cost-effective for a first-time buyer.  VA loans may only be used for a primary residence.

FHA Loans

An FHA loan is generally the easiest low down payment loan to qualify for.  A borrower is allowed to purchase a home with just 3.5% down.  An FHA borrower will pay an up-front funding fee that is typically added to the loan balance as well as a monthly mortgage insurance payment.  Both of these payments vary depending on the loan terms.  FHA loans may only be used for a primary residence.

USDA Loans

These loans allow 100% financing of homes in rural areas and area  good alternative to VA or FHA loans.  They are restricted both geographically and by income.  USDA loans may only be used for a primary residence.  To see if you meet the eligibility requirements for a USDA loan, visit USDA Loans.

Mortgage calculator

You may view a Uniform Residential Loan Application here.
However, please phone us at 303-469-1254
as we have found it most advantageous to walk through the process with our clients to meet their specific needs and answer questions that arise.

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