When trying to get a home loan or mortgage in Colorado, there are all kinds of factors you need to evaluate. For starters, where in Colorado do you want to live? The Centennial State is home to several great cities including Denver, Boulder, and Colorado Springs, all of which are surrounded by some of the most beautiful national parks and land in the country. That’s to say nothing of the fact that the Rocky Mountains cut through much of the state!
Whether you’re a first-time home buyer or are an experienced borrower looking to refinance, the loan officers of Delmar Mortgage stand ready to help you realize your dream of switching from a homebuyer to a homeowner.
Each and every one of our loan officers are dedicated to standing in your corner and helping you with every step of the homebuying process. We’re as invested as you in creating a better place to call home and sharing that home with the hard-working families we have the privilege of calling neighbors.
That means we’ll work with you through every step of the journey toward securing your home mortgage. Each of our loan officers has a trackable NMLS number, (or Nationwide Multistate Licensing System identifier) which indicates that our team members are licensed professionals. Plus, we strive for nothing less than 100% customer satisfaction, and our vast team of mortgage experts will do whatever we can to help you feel happy and secure about the new place you and your family get to call home.
That’s what it means to stand in your corner. Now let’s dive into what you can expect working with one of our loan officers.
One of the most fun parts of our job is getting to know more about you, our new (future) neighbor! We’ll work with you to learn about the needs of yourself and your family, as well as what you’ll be looking for in your new home. Going through the loan process can be challenging, but the reward of a home purchase is more than worth the hassle.
Another critical step in getting to know you is helping you to get a full understanding of your current financial situation. When you apply for a mortgage loan, a financial institution is going to need to know about your entire financial history. This includes things like your current credit score (which can in some cases help you qualify for better interest rates), your total number of assets, your annual income, any debts you might have (including credit card debt), whether you own any additional real estate, and more. If this is your first mortgage, the process can feel difficult, but it is a necessary step in your journey toward homeownership.
You’ll also want to consider how much money you have ready and available for a home purchase. This can include things like money saved up for a down payment and whether or not you already have any home equity (this might be more relevant for those who already have or are applying for a second mortgage). If you can, try to have some additional money saved up for any additional closing costs or fees (like originator fees).
Factors like these and many more are important in determining what your monthly mortgage payment will be. While saving up for your downpayment and additional expenses, try to keep an eye on current mortgage rates and housing news. Of course, you’re always welcome to contact one of our Colorado-licensed loan officers with any questions you might have!
Once we have a full idea of your financial situation, we can start to discuss your mortgage application and loan options. There are many different kinds of loans (or loan types) that might fit your specific needs, and we’re happy to discuss any or all of them with you. Some of these loans include VA loans, conventional loans, FHA loans, jumbo loans, USDA loans, and more. We’ll also discuss which loan term will be best for you and your family. Many choose a 30-year mortgage term, but in some cases, a 15-year loan is also an option. We also have options available for those planning on refinancing their current loan.
While this may sound a little confusing, rest assured that we’ll work with you and your family to determine which loan product is best for your unique situation.
We fully understand how confusing this can seem, but rest assured we try to make this process as easy as possible for you and your family. Plus, the rewards of getting to call Colorado your beautiful new home are well worth it. Don’t wait! Get the ball rolling by talking to one of our Colorado Loan Officers below.