Buying a Home In Lakewood Colorado With a Conforming Conventional Loan Made Easy From Top Colorado Loan Originator

Mortgage and Lending with NMLS #384936 NMLS #384936

Conventional home loans for home buyers in Colorado boast great rates, lower costs, and home buying flexibility. The conventional loan program is the loan option of choice for about 60% of all applicants. Colorado Conventional loans are also known as conforming loans, since they conform to a set of standards set by Fannie Mae and Freddie Mac. 













Here are some highlights of conventional loans:
  • You can use a conventional loan to buy a primary residence, second home, or rental property
  • Conventional loans are available in fixed rates, adjustable rates (ARMs), and offer many loan terms usually from 10 to 30 years.
  • Down payments as low as 5%
  • No monthly mortgage insurance with a down payment of at least 20%.
  • Lower mortgage insurance costs than FHA.
  • Mortgage insurance is cancellable when home equity reaches 20%.




Down Payment

For Denver, Aurora, Arvada, Fort Collins, Thornton, Centennial, & Colorado Springs, 
a conventional loan requires 20% down to avoid mortgage insurance. However, you can buy a home with a conventional loan with as little as 5% down if your credit is good enough and you obtain private mortgage insurance.

Private Mortgage Insurance (PMI)

PMI is required any time you put less than 20% down on a conventional loan. For those with good credit, private mortgage insurance on conventional loans can cost less than FHA’s mortgage insurance. This is because PMI is risk-based insurance, meaning that the better your credit history, the lower your premiums. PMI is much like auto insurance. You benefit if you have a clean history.
Some of the major private mortage insurance providers are MGIC, Genworth Financial, RMIC, and Radian. Each company has varying rates for different down payment and credit score scenarios, so make sure you contact Kevin Guttman as he will shop around for the best rate for you.
For an in-depth comparison of PMI and FHA mortgage insurance, see our website at













2014 Conventional Loan Limits

Generally the Colorado conventional loan limit for 2014 is $417,000. However, Fannie Mae and Freddie Mac have designated high-cost areas where limits are higher. For example, a single family home in Seattle, Washington could have a maximum loan of $506,000 and the loan amount on a single family home in Los Angeles, California could be up to $625,500.
Increased loan amounts are also available for 2-, 3-, and 4-unit homes. To look at an extreme, a 4-unit home in Honolulu, Hawaii can be financed up to $1,202,925 and still be within conforming loan limits. To check the loan limit for a specific address, contact one of our conventional loan professionals.

Brought to you by
Kevin Guttman, Sr. Mortgage Banker
Top Colorado Home Loan Originator
Serving Colorado 
Denver, Colorado Springs, Aurora, Fort Collins, Lakewood, Arvada, 
Centennial, Thornton, Colorado



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Kevin Guttman

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Financing Your Dream

Colorado Springs, CO 80920



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