Buying a Home : Everything You Need to Know : Experienced Honest & Trustworthy REMAX Denver Colorado Real Estate Agent : Anthony Rael : #JustCallAnts

 

Buying a Home with as little as 3% Down Payment

FINANCING OPTIONS...QUALIFYING FOR A HOME LOAN

Financing options can be overwhelming to all of us. There's simply no way to know about all the available options, much less decide which one is best for you long-term. You can choose any lender, but if you want to ensure a worry-free closing, I have access to a team of first-class mortgage experts who always ensure that my customers not only understand what mortgage options are available, but more importantly, receive the best possible rates and terms.

Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance Mortgage Options
Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance Key Components to Most Adjustable Rate Mortgages (ARM)

Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance Understanding Interest-only Mortgages
Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance What Your Monthly Mortgage Payment Consists of
Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance Questions to Ask Lenders
Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance How much can I afford?
Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance What are the current "average" mortgage rates this week?
Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance What are VA Loans and Do I Qualify?

Get Pre-Qualified for a Home Loan Today!
Preferred Mortgage Lenders for Anthony Rael, RE/MAX Alliance - Denver Realtor

Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance Home Mortgage Alliance - Tiffany Swisher - (303) 884-4137
Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance Unibell Financial Inc - Tenby Dahman - (303) 478-9126

 Mortgage Options & Loan Types
  • 30-year conventional fixed rate loan - benefits include:
    • Monthly payments for principle and interest remain the same over the life of the loan
    • Lower monthly payments when amortized over a 30-year payment period.
       
  • 30-year VA Loan (exclusively for military veterans) - VA benefits include:
    • Monthly payments for principle and interest remain the same over the life of the loan
    • Outstanding interest rates
    • $0 Money Payment Required
    • $0 Monthly Mortgage Insurance Premiums - saves hundreds of dollars each month!
    • Click here to learn more about VA Loans
  • 10, 15 or 20-year conventional fixed rate loans - Benefits include:
    • Monthly payments of principle and interest remain the same over the life of the loan
    • Substantial savings of interest over the life of the loan
    • Payments are approximately 25-30% higher when amortized over a shorter period of time.
  • No-Point/Zero Closing Cost loan - Benefits include:
    • Less cash needed at closing. The interest rate will usually be ? to ? of a percent higher when compared to loans that have points to pay at closing.
  • 7-year fixed rate balloon w/ 30-year amortization - Benefits include:
    • Slightly lower rate and/or less fees than the conventional 30-year fixed rate loan.
    • Payment of principle and interest remains the same over the 7-year period of time (at the end of 7 years, you will need to pay off the remaining balance with either a lump sum of cash or re-finance the remaining loan amount).
  • Adjustable Rate Mortgages (ARM) - There are many options with ARMs; the most popular tends to be the 1-year ARM with a 30-year amortization schedule. Benefits include:
    • Lower interest rate for the 1st year
    • Easier to qualify for the loan amount
    • You can qualify for a larger loan amount
    • A year ARM offers the ability to adjust downward at the 1 year anniversary of your loan.
    • I have never been a big fan of ARM's because interest rates have been at or near historical levels for the past five years, so an ARM just didn't make sense.  Anyone applying for this loan type needs to be certain that they understand what the future interest rate adjustments are or you can get into big trouble.
  • 80/10/10 Conventional Loans
    • a loan program that consists of an 80% first mortgage + a 10% second mortgage + a 10% down payment. In this case, since there is no mortgage insurance required, the buyer will save the monthly premium.
    • This loan type (or variations of it) was extremely popular during the past 3-5 years. The primary purpose of this loan is to avoid paying PMI (private mortgage insurance) for buyers who were unable to put down 20%.
    • It is always best to consult with a mortgage broker on the best type of loan program that best meets your needs and does not over-extend your financial situation.
  • Mortgage Loan Recasting: A mortgage recast (also called a loan recast) s a feature in some types of mortgages where the remaining payments are recalculated based on a new amortization schedule. During a mortgage recasting, the borrower pays a large sum toward their principal, and their mortgage is then recalculated based on the new balance. It's a simple and low-cost procedure that lowers your monthly loan payments without the need to refinance. Learn more about Mortgage Loan Recasting.
 


 

 Key Components to Most Adjustable Rate Mortgages (ARM):
  • Index Rate - the rate to which the interest rate on an adjustable rate loan is tied. One of the more popular indexes used is the 1-year U.S. Treasury bill.
  • Margin - the amount added to the index rate that represents the lender's cost of doing business.
  • Interest Rate Cap Per Adjustment - the maximum amount a borrower's interest rate may increase or decrease at the time of adjustment..
  • Life Cap - this is the ceiling that the note rate cannot exceed over the life of the loan.
  • Amortization - a period of time in which gradual repayment of debt occurs by means of systematic payments of principle and/or interest. At the end of the time period the balance is zero.

 
 What Your Monthly Mortgage Payment Consists of:
  • Principle balance: this represents the money you originally borrowed and are paying back over the life of the loan.
  • Interest on loan amount.
  • Real estate taxes: normally 1/12 of the most recent tax bill.
  • Insurance (Home Owners): normally 1/12 of the yearly policy amount.
  • Private Mortgage Insurance (PMI) - Some borrowers who have less than 20% down are required to pay PMI.
  • Assessments (if any, condo, townhome, single family home) - depending on the type of dwelling, you may or may not be required to pay assessments.

 
 Questions to Ask Lenders
  • Based on your situation, what looks like the best program for me & why?
  • What is the projected time for processing and closing a loan?
  • Who services your loans?
  • If PMI (Private Mortgage Insurance) is required, when and how does it go away?
  • What about your rates, terms, fees, etc - are they negotiable?
  • Are there any special underwriting guidelines you follow?
  • What if rates go down during the ?lock-in? period? 
  • What do you need  to get a loan approved?
 

 

2020 Home Buyer's Guide Home Buyer's Guide

Get pre-approved for a home mortgage loan today!
Reach out to
one of my preferred mortgage loan brokers below who can help you get pre-approved for a loan.  There is absolutely no charge or obligation and is a vital first step in preparing to purchase a property.

Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance Home Mortgage Alliance - Tiffany Swisher - (303) 884-4137
Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance America's Mortgage - Tenby Dahman - (303) 478-9126
Denver CO Real Estate, Denver Homes fo Sale, Search Denver Home Real Estate MLS/IDX Listings, Denver Relocation,  Colorado Relocation, Transferring to Denver, Denver Realtor, Denver Relocation Information, Relocation Expert, First-time Homebuyers, Arvada, Brighton, Broomfield, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Jefferson County, Anthony Rael Denver Realtor - REMAX Alliance Fairway Independent Mortgage - Kari Abt - (303) 489-1205

 

FIND YOUR DREAM HOME NOW!
HomesInColorado.info - Powered by REColorado / Metrolist Denver MLS SearchHomesInDenver.com - Powered by RE/MAX Alliance HomesInColorado HomesForSaleDenverColorado.com - Powered by REMAX
SEARCH HOMES NOW!
HomesInColorado.info
Powered by REColorado.com
SEARCH HOMES NOW!
SearchHomesInDenver.com

Powered by RE/MAX Alliance
SEARCH HOMES NOW!
HomesForSaleDenverColorado.com

Powered by remax.com

[ RETURN TO BUYER'S TOOLBOX ]
 

Connect with Anthony Rael on Facebook (@anthonyrael); Instagram (@anthonymrael); LinkedIn (@anthonyrael); Twitter (@anthonyrael)  Colorado Association of Realtors   Denver Realtors : Denver Metro Association of Realtors : DMAR   National Relocation Real Estate Agent - Anthony Rael - REMAX Zillow Reviews for Anthony RaelAnthony Rael is a proud member of the Colorado Association of Realtors; Denver Metro Association of Realtors; National Association of Realtors

Featured MLS Listings, SOLD Listings, Arvada Homes for Sale, Aurora Homes for Sale, Boulder Homes for Sale, Brighton Homes for Sale, Broomfield Homes for Sale, Castle Pines Homes for Sale, Commerce City Homes for Sale, Denver Homes for Sale, Erie Homes for Sale, Golden Homes for Sale, Highlands Ranch Homes for Sale, Lafayette Homes for Sale, Lakewood Homes for Sale, Littleton Homes for Sale, Louisville Homes for Sale, Northglenn Homes for Sale, Parker Homes for Sale, Thornton Homes for Sale, Westminster Homes for Sale - Denver Residential Real Estate, New Home Construction, Investment Properties, First-time Buyers, Relocation
2020 Home Buyer's Guide | 2020 Home Seller's Guide
Buy a Home | Find Your Dream Home | Pre-Qualifying for a Mortgage | Home Mortgage Loans
First-Time Homebuyers | Relocating to Denver Colorado | Where to Live in Denver
Reliable Contractors 
| Honest & Trustworthy Advice | Community Resources
Invest in Denver Real Estate | Sell a Home | Property Values | Denver Real Estate Market Reports
realtor.com Reviews 
| Meet Anthony | 'Just Call Ants' | Contact Anthony Rael | Home

Experienced Honest & Trustworthy REMAX Denver Colorado Real Estate Agents & Relocation Experts : Homes for Sale in Arvada, Aurora, Brighton, Boulder, Broomfield, Erie, Evergreen, Golden, Highlands Ranch, Lakewood, Littleton, Parker, Thornton, Westminster : #JustCallAnts Anthony Rael, Denver Colorado REMAX Realtors   Anthony Rael, REMAX Real Estate Agent in Colorado serving Arvada, Aurora, Boulder, Brighton, Broomfield, Castle Pines, Commerce City, Denver, Golden, Highlands Ranch, Lakewood, Littleton, Longmont, Northglenn, Parker, Thornton, Westminster    Experienced Honest & Trustworthy REMAX Denver Colorado Real Estate Agents & Relocation Experts : Homes for Sale in Arvada, Aurora, Brighton, Boulder, Broomfield, Erie, Evergreen, Golden, Highlands Ranch, Lakewood, Littleton, Parker, Thornton, Westminster : #JustCallAnts Anthony Rael, Denver Colorado REMAX Realtors

 / RESIDENTIAL REAL ESTATE / NEW HOME CONSTRUCTION / RELOCATION / FIRST-TIME BUYERS / INVESTMENT PROPERTIES /

Featured MLS Listings, SOLD Listings, Arvada Homes for Sale, Aurora Homes for Sale, Boulder Homes for Sale, Brighton Homes for Sale, Broomfield Homes for Sale, Castle Pines Homes for Sale, Commerce City Homes for Sale, Denver Homes for Sale, Erie Homes for Sale, Golden Homes for Sale, Highlands Ranch Homes for Sale, Lafayette Homes for Sale, Lakewood Homes for Sale, Littleton Homes for Sale, Louisville Homes for Sale, Northglenn Homes for Sale, Parker Homes for Sale, Thornton Homes for Sale, Westminster Homes for Sale - Denver Residential Real Estate, New Home Construction, Investment Properties, First-time Buyers, Relocation
© 2005-2020 ANTHONYRAEL.COM | ALL RIGHTS RESERVED | PRIVACY | SITEMAP | HOME

Anthony "Mike" Rael  |  REMAX Alliance - Arvada  |  5440 Ward Rd., #110  |  Arvada, Colorado 80002  |  303.520.3179  |  'Call Ants'
Licensed Colorado Real Estate Agent  |  Certified Negotiation Expert (CNE)  |  Seniors Real Estate Specialist (SRES)
AnthonyRael.REALTOR  |  HomesInColorado.info  |  SearchHomesInDenver.com  |  HomesForSaleDenverColorado.com


REMAX  |  RE/MAX, LLC  |  RE/MAX Rocky Mountain  |  RE/MAX Alliance  |  REMAX.com

Download the Homesnap App Available for iOS and Android, Apple TV and Apple Watch : Anthony Rael, REMAX
REMAX | When Experience Matters - 'Just Call Ants' - Denver Colorado Real Estate Agent Anthony Rael : Residential Real Estate | New Home Construction | Relocation | First-Time Buyers | Investment Properties | Home Loans | Market Statistics