Mortgage Rate | Mortgage Rates in Colorado | Colorado Online Mortgage Quote

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What are your rates?

A common and very legitimate question often asked.

It can be difficult to answer that question accurately, without first understanding some basics about your Colorado home mortgage profile. There are many variables lenders consider when determining their risk for any given Colorado mortgage loan, which in turn determines your rate.

Some of these variables include:

  • What is the total financed amount?
  • What is the value of your property or the purchase price?
  • Do you wish to buy down the rate?
  • Will you reside in the property?
  • What is your credit rating?
  • What is your total Debit to Income ratio?
  • Are you putting any money into the transaction?
  • etc.

All of these factors and more can affect your rate, whether you are looking for a Denver Mortgage, Colorado Mortgage, or a mortgage for any other state.

Borrowers often ask this question first, because they want the best deal. Nobody wants to pay more for a Colorado home mortgage than they need to.

However, along with low rates, customer service, professional staff, convenience, and flexibility are some other key attributes when selecting the right Denver mortgage company.

Sometimes, the lowest rate isn't necessarily the best deal. If you fall out of your purchase contract and lose your earnest money because your loan didn't close on time, did it matter what your rate was?

The good news, is that we offer both! Not only will you find our rates exceptional, our customer service is second to none.

To see our low rates first hand, we ask that you fill out our short, non personal, Colorado mortgage quote form, here.

Why do these variables affect my rate?

Let's face it, lenders are in the business of lending money for profit, and just like you, they want to know what risks are associated with financing your Colorado home mortgage. The higher the risk, the higher the rate. They also want to make a profit. If they can't earn a profit on your loan, there is no incentive to offer enticing terms.

For this reason, the amount of your Colorado Mortgage can also affect your rate. It costs the lender the same to lend on a small loan vs. a larger loan, but over time, the lender will not earn as much interest due to the smaller loan amount, so they often charge a slightly higher rate. Jumbo mortgages, or loans currently in excess of $417,000 for single family residences, offer higher risk for lenders as well. They stand to lose a lot more if a borrower defaults on a Jumbo mortgage.

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