home: New Grant Program for Home Buyers - 01/07/15 03:05 AM
We are excited to announce a new grant program for home buyers, which is streamlined and offers a significant benefit.  This grant program can be used for down payment assistance or closing costs.
 
Details:
Up to 5% of the purchase price, to be used for down payment and/or closing costs FHA, VA and USDA financing Can be for first time or non-first time home buyers All processes handled by our underwriting team - Do not have to send to 3rd party for review or approval Maximum loan amount - $417,000  
Contact us for questions or client assistance: 303-800-4595
 
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home: How Does a Home Refinance Work? - 03/04/14 07:19 AM

Most people vaguely understand what refinancing means: Replacing an older loan with a new loan offering better terms.
The reasons behind refinancing and the ways it can benefit home-owners are varied. 
Common reasons for refinancing:
Get a lower interest rate Shorten the term of a mortgage Consolidate debt Switch to or from adjustable and fixed rate mortgages Use home equity for other large expenses During a divorce to remove a spouse from the mortgage Change mortgage companies It’s important to carefully analyze these financial choices before making this decision, and Michael Shotnik of Colorado Mortgage can take you through all scenarios based … (0 comments)

home: The buyer's edge - 04/17/13 02:30 AM
 
In this fierce market you need every tool possible to assist your buyers. That’s where we come!
The Mortgage Credit Certificate program is the perfect tool to maximize your buyer’s purchasing power. The program will allow them to qualify for 10%-20% more.
How it works:
The MCC must be applied at the time of purchase. This will allow your buyer to receive a tax credit equal to 20%-50% of their mortgage interest payment. On a $200,000 purchase this is $1,500 - $3,750 in extra annual income. On the lending side we can use this extra income to help your buyer … (0 comments)

home: Colorado a seller’s market in early 2013 - 02/21/13 12:37 AM
Statewide, prices rising as inventory levels drop to lowest level in decades
Colorado home buyers hunting for homes on Zillow.com or Redfin.com may be finding a lot fewer properties up for sale recently. That’s because the number of homes on the market in the Denver metro area are at the lowest levels in 23 years, according to Metrolist, Inc. and other media companies across the state are reporting similar findings.
 
A busy January, along with fewer new homes on the market due to the recession and fewer short sales and foreclosures, has caused a shortage of inventory in Colorado, which … (0 comments)

home: House hunting: Avoid the red flags - 01/29/13 03:25 AM
 
House hunting: Avoid the red flags
 
Don’t commit to a new home before considering these potential pitfalls
 
When searching for the “perfect house,” buyers often put their hearts before their heads. Before you fall head over heels for a home, make sure it is worth the enormous investment by thinking about these important factors that not only will make sure you get the most enjoyment out of your home, but that you don’t find yourself regretting your decision:
 
Neighborhood
 
It’s all about location, location, location. When it comes to buying a house, you aren’t just buying … (0 comments)

home: The buyer’s market is back in Denver, Colorado!! - 12/17/10 04:04 AM
Day by day the market is becoming more of a buyer's market. As interest rates rise the pool of buyers is diminishing and the longer homes sit on the market. For those of us on the buying side this is a good thing!
If you can approach the purchase process with patience and a critical eye there has never been a better time to get a great home at a great price. "Low ball" offers are at least an offer and sellers are becoming less likely to disregard aggressive offers.
How to get a good deal:
•1.       Work with a experienced … (1 comments)

home: My First Home Purchase - Denver - 06/01/10 07:07 AM
If you are just getting started on purchasing a home in Denver then you should consider yourself very lucky. Denver is a great city and has a strong real estate market to match. The different sub-areas around Denver offer desirable properties whatever your price range.
If you're looking for a fixer upper than my loan products in combination with due diligence from your real estate agent will result in a tremendous buy. If you're looking for a home that doesn't need any work at all than you're in luck as well!
If you want to purchase a home that you can … (0 comments)

home: Entertainment, Lies and Homeownership - 11/10/08 04:00 AM
If you are one of the many Americans that routinely watches the local news than you mostly likely think no one is able to buy or sell real estate in the current market.  The media is in the business of entertaining whether it be true or false and in the case of the local Denver Real Estate market is way off.  The term that is regularly used like "credit freeze" and all the publicity given to failing banks greatly discourages first time and seasoned buyers from buying a home.  Any investor will tell you to buy low and sell high, now … (0 comments)

home: First Home? Gotta read! - 10/09/08 09:31 AM
Michael ShotnikFirst Home -  Loan Specialistmshotnik@summit-mortgage.com
denver1stmortgage.com               Mortgage Broker vs. Mortgage Banker
Mortgage Broker

A Mortgage Broker is an intermediary between the borrower and the lender. Most mortgage brokers represent multiple lenders and will work to find the client the lender that is most likely to approve your application. Mortgage brokers can generally offer a broad range of programs. It is important to understand that although a mortgage broker is in place to find you the correct product it is not always in their best interest to give you the best rate. Mortgage brokers earn a fee/commission for their work on your particular loan. The … (0 comments)