The first step in obtaining a loan is to determine how much money you can borrow. In case of buying a home, you should determine how much home you can afford even before you begin looking. By answering a few simple questions, we will calculate your buying power, based on standard lender guidelines.
Home loans come in many shapes and sizes. Deciding which loan makes the most sense for your financial situation and goals means understanding the benefits of each. Whether you are buying a home or refinancing, there are 2 basic types of home loans. Each has different reasons you’d choose them.
Complete Secure Application: Takes about 10 minutes to complete and is required for “Pre-Approval”. (Recommended)
Short Application: Takes 2-5 minutes to complete. You will be contacted once your application is submitted.
Although lenders conform to standards set by government agencies, loan approval guidelines vary depending on the terms of each loan. In general, approval is based on two factors: your ability and willingness to repay the loan and the value of the property.
After your loan is approved, you are ready to sign the final loan documents. You must review the documents prior to signing and make sure that the interest rate and loan terms are what you were promised. Also, verify that the name and address on the loan documents are accurate. The signing normally takes place in front of a notary public.
It was a joy working with Ann at 1st Colorado Mortgage Solutions. Ann was trustworthy, personable and kind. She is a great listener and made sure my needs were always met. What makes Ann stand out is her great wealth of knowledge about mortgages and finances, as well as home buying. She kept up with everything and notified me well in advance, making completing the paperwork easy. It would be hard to find better service anywhere. 1st Colorado Mortgage Solutions is a company I highly recommend!
David Bartels has assisted our family in a number of home loans and refinances over the last 10 years. He is extremely intelligent and understands all of the intricate details in the mortgage process. Dave’s work ethic and moral foundation are drivers in how he runs his business and are nothing short of remarkable.