Special offer

Why Denver FHA Loans For Colorado Residential Real Estate Home Buyers Are Fantastic Loans

By
Mortgage and Lending with NMLS #384936 NMLS #384936

Your FHA Home Loan & Mortgage Guide

by Kevin Guttman

Sr Mortgage Banker
Top Denver &Colorado FHA Home Loan Originator
Colorado Springs
877-251-9709
www.ColoradHomeLoanTeam.com

FHA insured loans
...are a type of Federal Assistance and have historically allowed lower to middle income Americans to borrow money for the purchase of a new home, or for the refinance of an existing mortgage loan, that they would not otherwise be able to afford. The Federal Housing Administration (FHA) was originally established in an effort to provide much needed support, and resources to a crippled and struggling housing market devastated by the Great Depression. In 1934, in a response to the ongoing economic calamity of depressed economy, Congress passed The National Housing Act, which amongst other things, created the FHA, to primarily increase home construction, reduce unemployment, and operated various loan insurance programs. In the eighty (80) years since, the FHA has been a popular choice for home-buyers and home-owners, especially during times of economic recession, and weak housing markets. 
Get The Insider Secrets To Saving Thousands On Your New Denver Colorado Home FHA Mortgage

The FHA has continued to serve its primary purpose of supporting homeownership in the United States, by being the most popular choice for potential home-buyers and home-owners during the first few years of the Great Recession of 2008 – 2009, and peaking in 2010, during a time when most other options to finance a home, either went away completely, or constricted to a point, that only a small percentage of borrowers would be eligible. One point of common confusion is that many believe that FHA is a mortgage lender, but in actuality, FHA only provides mortgage insurance on loans made by FHA-approved mortgage lenders throughout the United States and its territories.

 

 

Therefore, Colorado Homes & Denver FHA does not make loans directly – it only insures loans made by private Colorado mortgage lenders to Denver homebuyers and guarantees those loans in case of default. Therefore, any losses are at the expense of the American Taxpayer, and according to the Government Accountability Office, U.S. Taxpayers (through FHA) guaranteed nearly $350 Billion in mortgage insurance from 2008 through 2012 alone. The most common reason potential home-buyers end up using an FHA insured loan when purchasing a new home, or current home-owners end up using an FHA insured loan when refinancing their home, is because there’s simply no other choice usually because of the following examples: 
Get Pre-Approved For Your FHA Denver Colorado Home Loan Here

Denver Colorado Home Borrower FHA Requirements

  • Owner Occupied only – borrower must live in the home as a primary residence
  • Minimum 580 Credit Score
  • Full income / asset documentation only – W-2 and/or tax returns
  • 3.5% minimum down-payment
  • No minimum borrower contribution required – 100% down payment can be gift
  • Approved down-payment buyer assistance can be used up to 100% combined loan to value
  • Maximum 46.99% front end, 56.99 back end debt to income ratio with automated underwriting approval


Down-Payment Assistance: 

In most cases, Colorado Real Estate home FHA insured loans are the only loans that allow for a prospective home-buyer to utilize an approved Non-Profit or Government Down-Payment Assistance Homeownership Program. While there are a handful of Conventional Mortgage Loans that will allow for DPA’s, since FHA’s down-payment requirements are less than their Conventional counterparts, it’s simply not as easy to obtain the assistance needed when using a Conventional Mortgage Loan. 

Call Kevin Guttman at 877-251-9709 for your free FHA home loan consultation
or go to www.FHAHomeLoansApproved.com 

Colorado Home Loan Team
Colorado Springs, CO 80920
877-251-9709
www.ColoradoHomeLoanTeam.com

Posted by



We help Colorado clients finance their dream and

get the best rate, program, fees, & payment they qualify for!

 

Kevin Guttman

Certified Reverse Mortgage Planner

Home Finance Advisor

Financing Your Dream

Colorado Springs, CO 80920

877.251.9709

kevin.guttman@gmail.com 

www.ReverseMortgageAdvisorsUSA.com

www.ColoradoHomeLoanTeam.com

www.HomeAndLoanExperts.com

 
 
 

 My FREE  Mobile Mortgage APP                                                                                                                                                                          Go to:http://mtgpro.co/25ygy 

 

 

Description: Description: Description: Description: Description: cid:image008.jpg@01CCE250.15948DE0

Comments (0)