Buying Resale or Building Your Next Home in Colorado
Buying Resale in Colorado?
Are you thinking about a conventional mortgage? A wide range of buyers with various credit profiles, including less than perfect credit, are now eligible for a conventional mortgage thanks to new underwriting guidelines. Conventional mortgage solutions provide for very low down payments, including zero down (even zero down with no mortgage insurance) as well are large down payment solutions. For more detailed information visit the conventional mortgage overview.
Are you thinking about a jumbo mortgage? The term "jumbo mortgage" refers to a mortgage that exceeds the current conventional mortgage limit (you can look up the current conventional mortage limit by going to the glossary of mortgage terms at the bottom of this page, then clicking on the 'c' link on the glossary page). For more information about jumbo mortgages please visit the Colorado jumbo mortgages overview.
Are you eliglble for a VA mortgage? VA is a great way to buy your next home with zero down and no mortgage insurance, but you have to be eligible. For more information visit the VA mortgage overview.
Visit the comparison of conventional, FHA, and VA mortgages for a side by side comparison of all three.
Are you self-employed? Think you might need an alternative mortgage solution? Alternative mortgage solutions run the gamut from no-doc and stated income mortgage solutions for borrowers with good to great credit, to mortgage solutions for buyers with no so great credit. For more information visit the alternative mortgage overview.
Do you own a home currently? For a detailed discussion about unique considerations for homebuyers who currently own their primary residence including a discussion of bridge loans, and how they work, visit the current homeowner page.
Building Your Next Home in Colorado?
Are you looking at new construction homes? Financing for most new construction homes involves builder paid construction financing which means that you are not responsible for taking out the construction loan. If the home you will be buying falls into this category the discussion above about financing for resale applies to your situation.
Are you considering building a custom home? Please visit the new construction financing overview for more information.
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