Latest Down Payment Requirements

By
Mortgage and Lending with The Mortgage Experts at America's Mortgage, a Division of Cherry Creek Mortgage Co. NMLS #241555

Here are the latest down payment requirements for purchasing a house in Colorado.

 

Conventional loans (non-government loans)

  • Primary residence = 3% down with a 680 credit score, and 5% down with a 620 credit score
  • Second home = 10% down with a 620 credit score
  • Investment property = 20% down with a 620 credit score

FHA loans

Primary residence only = 3.5% down with a 580 credit score

 

VA loans

Primary residence only = 0% down with a 600 credit score

 

 

Did you know that we do NOT charge an origination fee or an underwriting fee?  Our only lender fee is a $500 processing fee. 

 

Did you know that we don't have any underwriting overlays on the loans we sell?  That means we have no additional underwriting guidelines like most lenders have.  Pretty nice!

 

Have questions about anything related to a mortgage?  Give us a call and see why they call us The Mortgage Experts.  

 

Getting a loan approved is easy - if you know what to do.  The Mortgage Experts know what to do!!!  Call us if you want to use the best lenders in Colorado!  

 

Make sure you check out our web site:

www.mtgsupportservices.com

 

And check out all our great tips on our blog at: 

http://TheMortgageExperts.blogspot.com  

 

By the way, don't forget to refinance your current mortgage.  Rates are very, very low right now.  Don't miss out!  Call us today to get the details for your particular situation.

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Topic:
ActiveRain Community
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Colorado
Groups:
Active Rain Newbies
Realtors®
Colorado Real Estate
Colorado Realty Bloggers

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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Excellent synopsis for home buyers. 

 

Dec 04, 2014 08:15 PM #1
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Chris Thomas

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