The Mortgage Experts at America's Mortgage

Mortgage and Lending - The Mortgage Experts at America's Mortgage, a Division of Cherry Creek Mortgage Co. - NMLS #241555



There are new rules regarding insurance coverage for attached condominium projects.  For all loan applications dated on or after March 1, 2009, lenders are now required to verify that hazard insurance covers fixtures, equipment, and other personal property inside individual units.  If the master ...
A number of people recently asked us if they could borrow money from their 401(K) or mutual fund account and use that to pay for their down payment.  The answer is yes, and here are the underwriting guidelines:  If the 401(K) is being listed as an asset on the loan application, the total amount o...
Ever wonder what the processing fee and the underwriting fee are for on a Good Faith Estimate and final settlement statement?The processing fee pays for the person who does all the paperwork involved in getting a loan into underwriting, taking care of any conditions, and making sure the loan clos...
We are often asked if the property tax credit (the pro-rated share of the property taxes that is taken out of the seller's account and put into the buyer's account) can be used to pay a part of the buyer's down payment requirement.  The answer is no.  However, the property tax credit can be used ...
By now, you would think everyone knows all about the $8,000 tax credit.  Don't make that assumption, because many of your prospects do NOT know about it, and even fewer understand it.  Here's what they need to know:  - If you (or your spouse, if you are married) have not owned your main home in t...
Need 100% financing with an FHA loan WITHOUT getting a gift or a loan from a relative?  Check out CHFA loans.  The Colorado Housing and Finance Authority (CHFA) can't quite get you to 100%, but they can get you to 99.395%, which is pretty close.  Only a small percentage of mortgage brokers and le...

Chris Thomas

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