How to find the Right Mortgage Company for Your Home Loan
Finding a mortgage company and lender that will lend on a mountain home in the Denver Foothills is sometimes challenging. It seems like there are national mortgage companies that are afraid to lend on a home in the mountains. They see the wildfires on the news and think the entire state is on fire. The truth is we rarely lose a structure from a wildfire. Some mortgage companies just don’t understand this fact.
Why use a local Mortgage Lender?
This means it is very important to choose a local mortgage company. One located in Denver, Evergreen, Conifer, Golden or the Denver Foothills. These mortgage brokers understand mountain homes. They understand wells, septic system, easements and encroachments. As lenders and mortgage loan officers, understand the big picture and understand the obstacles that other mortgage companies just don’t get. If you are buying a home you will want to talk to some local lenders.
What are the benefits of a local lender?
In addition to the reasons above another reason for a local mortgage company is they are just like a . They are hungry! They will work hard for you. In this crazy market you can not have a lender that only works 9-4 Monday through Thursday. A buyer might need to lender letter on a Sunday at 4 O’clock. We only have mortgage lenders listed on our site that we can depend on during off hours. The ones that have outstanding customer service and no set hours. We work 7 days a week here at Orson Hill Realty and expect the professionals we work with to do the same. A seller will not take your offer into consideration in this market without a lender commitment letter. You might miss your dream home because your banker still thinks it is 1954 and won’t work weekends. You don’t need that kind of lender.
Mortgage Home Loan Rates are Still Low
Rates are still low in comparison to recent decades. Back in the 70s and 80s a rate of 18% was considered to be a good mortgage rate. Now people don’t even pay that for a credit card. Although mortgage rates have ticked up from their lowest point they are still very low. It is still a great time to buy. Give one of the local mortgage loan companies a call to see what rate you qualify for. Be sure to do this before you start to look at homes. it will give you an idea of where to start looking. What price point you fit in and when you find that perfect home you have that pre qualification letter in hand to present with your offer and the seller will know you are serious and a qualified buyer.
Getting Pre Approved for Your Home Loan is Fast and Easy
Most home loan lenders can get you through the pre approval process with a 15 minute phone call. It is fast and painless and free. It gives you an idea of what you can afford and a basic idea of your monthly payments. In our market in Colorado it is also a must. Many real estate agents won’t even take you to look at homes until you get through the home loan pre approval process. No seller these days will accept an offer that doesn’t have a pre approval letter attached to it. Keep in mind that the pre approval letter isn’t a guarantee you get the loan. It basically states that if you the information you provided and your financial situation doesn’t change (lose your job take out a 3 million dollar line of credit) you will most likely get the loan.