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Ft. Collins RE Trends: Medium Sized Loans
Loan Considerations for Loan Amounts Between $200K - $417K
 
With all the doom and gloom publications that are mostly exaggerated, many potential borrowers believe that home mortgage lending options have dried up.  While underwriters and investors are scrutinizing files more closely, attractive rates and terms still exist for owner occupied purchasers seeking a conforming loan limit (under $417,000).  FHA and VA can still lend up to 100% LTV and conventional permits up to 97% LTV.  There are certain guidelines to meet when going to these high LTVs, but they are not impossible to surmount.
 
Every home buyer should first ask themselves what payment they feel comfortable in committing to on a monthly basis.  Too many buyers over-extended themselves in recent years on homes they simply could not afford, but qualified for on loose lending guidelines.   Just because you can qualify for a certain loan amount does not mean that it’s the best decision for you. 
 
Once the comfortable payment has been established, you can back solve for what loan amount will yield an amount close to that payment and search for homes in that price range.  You will need to take the amount of down payment into ... more

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