When you apply for a Colorado Springs home loan, you need to submit some documentation and answer a few questions from your lender.
Turning over all this information about your personal finances and financial history may seem intrusive, but it makes sense: The lender needs to gather all the information they can to decide on the mortgage program for your loan in Perigrine
But how do they take all your information and come up with a good loan program and rates?
Balancing Profit and Competition
Kevin Guttman, a Colorado Home Loan Originator & Lender, must strike a tough balance between being competitive with other firms and assessing the risk involved with loaning you money.
Colorado Home Buyers - Down Payments
There are programs where the home loans require very little down, and some loan programs offer grant assistance towards closing costs for Colorado Springs home loans.
Today, Kevin Guttman offers a variety of down payment loan programs in 80919 Perigrine area. If you’re willing and able to invest a bit largerconventional loan down payment in your home, the lenders can offer you a bit better rates.
Credit Score
A Colorado Home Buyer's Credit score is another key factor in determining your home loan program & interest rate. A high credit score shows you’re a responsible borrower, and lenders are more confident in loaning you larger sums of cash with a lower interest rate.
If your score is a bit lower, the lender can work with various programs to qualify you for a home loan.
Purpose of the Home
If you plan to live in the home in Colorado Springs, you’ll get a better rate than if youplan to rent it out. Looking at it from a lender’s point of view, a person living in a house and making it into a home is much more likely to work hard to make the payments to keep the property.
A person who’s purchasing a house purely for investment in Perigrine 80919 area, they can qualify for attractive home loan programs.
Loan Type
There are many kinds of mortgage loans, and some are riskier for the lender than others. For instance, if you secure a 15-year loan, you’re agreeing to pay back the money faster than someone who opts for a standard 30-year loan. For this reason, most lenders consider a 15-year loan less risky and are likely to offer you a better interest rate.
If you desire a Colorado 80919 Perigrine area fixed-rate mortgage, Kevin has a variety of home loan programs available based upon your situation, occupation, or qualifications, such as:
FHA, VA, Conventional, or Jumbo home loans.
Here is why to work with Kevin Guttman, Sr Mortgage Banker at Colorado Home Loan Team:
Apply Here Online For Your Home Loan Pre-Approval
Colorado Home Loan Team
We Finance Dreams
Kevin Guttman
Top Colorado Home Loan Originator
Colorado - Statewide
Colorado Springs, CO 80920
Call 877-251-9709
www.HomeAndLoanExperts.com
www.ColoradoHomeloanTeam.com
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