Colorado Mortgage Bank

Home Inspections

There has been much debate about how the current $8000 tax credit can continue in its current state.  Proponents for keeping the tax credit going have lobbied hard and their efforts have paid off.  The current extended tax credit has been passed continuing the $8000 tax incentive to first time home buyers.

Veteran home loans are available to current active duty military personnel.  These VA loans are also available to anyone who has previously served in the military and were discharged meeting the minimum VA loan requirements.  These loans are backed by the Federal Government and offer some of the lowest rates available in Colorado.  Military mortgage rates contribute to some of the largest and most powerful portfolios on Wall Street, and have been utilized as one of the best 100% loan programs currently available in Colorado.

Week ending October 31, 2009

While daily volatility was high this week, mortgage rates ended just slightly lower than last week. The primary factors influencing mortgage rates were offsetting. The economic growth data released this week was stronger than expected, but inflation remained low. While the first two Treasury auctions produced impressive results, the final one was relatively weak.

Q: What is a VA Guaranteed Home Loan?

A: VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you fail to repay the loan. The guaranty replaces the protection the lender normally receives by requiring a down payment allowing you to obtain favorable financing terms.

Some people can find it a bit taxing to understand what the differences are between a mortgage broker and a mortgage banker.  Normally, consumers are drawn to the provider they are most accustomed to working with.  One might think that the decision should be based on the mortgage provider or providers that offer the best rate or the lowest fees, but more often than not it really just comes down to the fact that people are genuinely more comfortable working with either their family broker or their local bank.  Regardless of which type of mortgage provider you ultimately elect as the one to arrange your residential mortgage, by understanding their differences, you can determine which type of provider will work best for you.