Tuesday, November 25, 2014

Higher Loan Limits for 2015

Fannie Mae and Freddie Mac have announced that the maximum loan amounts in 46 counties across the country are being increased for 2015.  Eleven of those counties are in Colorado, and include all of the Metro-Denver counties.

What does this mean?  First, it means what many people have long suspected: housing prices in the Denver area are going up. It also means that you can now get a loan for more than $417,000, and it doesn't have to be a jumbo loan.

Here are the Colorado counties that went up, and the new maximum loan amounts:

For Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park Counties, the new limit is $424,350.  The new limit for Boulder County is $456,550.

Any loan for more than these limits is considered a jumbo loan, and has tougher underwriting guidelines, higher credit score requirements, and higher down payment requirements.

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:

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.

Friday, November 21, 2014

How to Get the Lowest Interest Rates

Credit scores of 740 and above get the best interest rates for conventional loans.  How do you get a score above 740?  The number one way, of course, is to pay your bills on time. However, another way to get higher scores is to pay down the balances on your credit cards.  If the balance is above 70% of the credit limit, that's the worst.  If the balance is between 50% and 70% of the credit limit, that's better.  If it's between 30% and 50%, that's even better, and if it's below 30%, that's the best.

Not sure whether to pay down the balances or save your money for a down payment?  Give us a call and we can lead you in the right direction.

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:

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.

Monday, November 17, 2014

No Origination Fee

Did you know that we never charge an origination fee when we sell a loan?  Our only lender fee is a $500 processing fee.  No origination fee, no underwriting fee, no admin fee - just a $500 processing fee. 

Imagine if there was a lender who closed 100% of the loans that they pre-approved, and also had some of the lowest interest rates and the lowest closing costs?  Sound impossible?  Not when you use us as your lender.  Every loan we pre-approve closes, and our interest rates and closing costs are lower than just about everyone else.  

No wonder they call us the Mortgage Experts!

Did you know that we sell our loans directly to Fannie Mae and Freddie Mac?  That means we can get our loans approved without the additional underwriting requirements that most lenders have.  If we give you a pre-approval, it's going to close.

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:

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.