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
It's important to remember that credit needs to be pulled twice for most mortgage transactions these days: once when the loan is pre-approved, and again right before the closing. If any new credit inquiries show up on the second credit report, then they have to be explained before the loan can cl...
FHA loan limits have gone back up! Here are the new limits:For the Denver-Metro counties, the new loan limit is $406,250.For Boulder County, the new loan limit is $460,000.These limits are for 1-unit properties. The amounts are higher for 2, 3, and 4 unit properties.These new amounts are in effec...
Fannie Mae and Freddie Mac have announced that the loan limits for Colorado will remain the same in 2012. Here are the limits for the Metro Denver counties:• One unit = $417,000 • Two units = $533,850• Three units = $645,300• Four units = $801,950 If the loan amount is at or below the limits list...
If someone is buying a second home or an investment property, Fannie Mae allows financing for up to 10 properties to the same borrower, and so do we!Here are the restrictions: Minimum credit score is 720 For second homes and 1-unit investment property purchase transactions, the down payment is 25...
Ever wondered how long you have to wait after a bankruptcy, foreclosure, or short sale before being able to qualify for a new mortgage? Check out the table below for all the answers. NOTE: For all loans, the borrower must have “re-established credit” after the bankruptcy, foreclosure, or short sa...
Ever wonder what the difference is between a mortgage banker and a mortgage broker? Today's winning question by Steve Jacobson of Metro Brokers addresses that issue. Steve receives a $25 Starbucks card and gets his contact information sent to the 6,600 people on our contact list. We also list his...
$100 down HUD homes are back! From now until October 20, 2012, The $100 HUD home sales incentive is back in Colorado. Here's how it works: The offer price must be the full listing price. The down payment requirement is only $100. The financing must be an FHA mortgage. The maximum loan amount cann...
People are always asking us about debt-to-income ratios. Here's what you need to know.Each type of loan has a maximum allowable Debt-to-Income (DTI) ratio. However, if the loan is run through the automated underwriting software that is available from Fannie Mae, Freddie Mac, FHA, and VA, the maxi...
Ever had a question about down payments? Check out this table - it shows all the current down payment requirements. Getting a loan approved is easy - if you know what to do. The Mortgage Experts know what to do!!!Make sure you check out our web site:www.mtgsupportservices.comAnd check out all our...
A couple of weeks ago, we announced that VA funding fees were going down beginning October 1. However, Congress has since passed a bill that does not allow for the VA funding fees to be lowered. So the bottom line is that VA funding fees remain unchanged. If they change in the future, we will be ...

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