Refinancing is usually much easier and faster than the home buying process.   You can decide when to refinance without having to worry about all the moving arrangements and the strict deadlines since you’re already in your home.  The criteria used for refinancing are very similar for purchases, however the documentation requirement is normally less.

Residential Loans:

• Jumbo

•  Conventional

• Stated Income for the Self-Employed

• FHA and VA to include the non-qualifying Streamline and Interest Rate Reduction Loans

• Hard to place FHA and VA, Conventional and Jumbo

• Investment and second home loans

• Seconds and Home Equity Line of Credit (HELOC) programs

• Debt consolidation loans

• Plus many more programs

Two of biggest myths are that the “Lowest Rate is the Best Loan” and the “No Cost Loan.”  With our unique financing tools, we can show you financing options so you can easily see which loan is best for you.  It isn’t always the lowest rate loan.  Additionally, there are always “costs.”  The borrower may end up paying these costs by having them included in the loan and/or with a higher interest rate.  Either way, you, the borrower, will pay but not necessarily with out of pocket cash at closing.  Please call 303-521-9550 regarding what loan is best for you.

Lenders emphasize “Lowest Rate” and “Lowest and No Cost” loans because borrowers usually ask,  “What’s your rate and what are your closing costs?”  Unfortunately, this is how borrowers have been conditioned to shop for a loan because they don’t what else to ask.   What is even worse, loan officers typically answer back with a “rate” and a “figure” without asking any questions about the borrowers’ status or what they want to accomplish.  This is how most loan officers are taught to respond if they have received any training at all.  It is quick and simple for both parties, but not necessarily the best way to choose a lender.  Additionally, there is no guarantee that you will receive what was promised when you get to closing.  How many times have you heard,    “I got a higher rate and/or I had to bring more money to the closing table”?

Most borrowers do not know that mortgage companies receive the same rate sheets from lenders.  The rates and the fees are basically equal for all everyone!  How many times have you call a radio, mailer, or newspaper advertisement only to find out that you didn’t get the rate quoted in the advertisement?  It’s the old “bait and switch” scheme.

FHA and the VA even have special programs where the borrowers’ employment status and credit debt that affect their debt to income ratios, are not even checked.  Under these programs, the borrowers can have a 30 day mortgage late and their payment has to be less unless they are going from an ARM to a Fixed rate loan.  It can't get any simpler.      For all your mortgage needs, please call 303-521-9550.  You will glad that you did!