What is an FHA Loan The Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) offer mortgage programs in all states. Product options include both fixed-rate and adjustable- rate mortgages. Features include flexible qualification guidelines for eligible borrowers. These mortgages are helpful for eligible borrowers with limited funds to use as a down payment. Ask about the advantages of the U.S. Bank Firstep program. FHA and VA mortgages give eligible borrowers the opportunity to become homeowners with low or zero down payment requirements depending on the mortgage product. FHA-allowable loan maximums are set by county and state. FHA loans are insured by the federal government. Many first-time homebuyers select FHA loans because of the program’s flexibility. VA-guaranteed loan programs are available to Military Service Veterans, current active duty service men and women and their surviving spouses. Features include: · No down payment · No mortgage insurance  
Peak Home Mortgage | 25147 Foothills Dr. N| Golden, CO| 80401| Tel: 303-526-9620 - NMLS 1008665 - CO Lic. 100044763
Call us: 303-526-9620
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Type of Loans

What is a Conventional loan Conventional   loans   work   best   when   you   have   more   than   10%   equity   or   down   payment,   and   you have   higher   credit   scores.   Conventional   loans   can   also   be   used   for   a   greater   variety   of   property types and loan purposes. If   you   have   less   than   20%   equity,   you   are   required   to   have   mortgage   insurance,   however, depending   on   the   loan-to-value   and   your   credit   scores,   the   mortgage   insurance   can   be   very inexpensive.    If    you    have    at    least    20%    equity    or    are    making    a    20%    down    payment,    then Conventional loans are hard to beat! Minimum 5% equity or down payment (3% in limited cases) Any loan amount (over $417,000, would be considered a Jumbo loan) 640 minimum credit score Mortgage insurance required for loan-to-value over 80% Limited gift funds allowed on purchase 30 year, 20 year, 15 year terms (other terms available) Both fixed rate and adjustable rate programs No prepayment penalties Peak   Home   Mortgage   offers   a   variety   of   mortgage   products   to   meet   your   needs,   including   competitive   fixed   and   adjustable   loan   rates. Our   goal   is   to   provide   you   with   the   mortgage   loan   that   suits   you   best.   Call   us   today   at   303-526-9620   to   discuss   what   type   of   loan   is   best for   you.   We   are   a   full-service   mortgage   broker   with   experienced   staff   offering   expertise   in   every   area   of   mortgage   lending   from purchase   to   refinance   to   construction   lending.   Our   staff   is   dedicated   to   finding   you   the   best   loan   product   at   the   best   rate   and   helping you navigate the ever-changing mortgage industry!
What is a Jumbo Loan An option for consumers who wish to borrow more than the conforming loan limit of $417,000. The JUMBO mortgage products offer flexible loan terms. Financing is available for primary residences, second homes, investment properties. Primary and investment properties with 2 - 4 units are allowed. What is a Adjustable (ARM) Loan The initial mortgage interest rate may be lower than current fixed-rate loans. Choose from a number of adjustable-rate loan products. Borrowers who intend to remain in a property for a shorter period of time may prefer this option. The interest rate will adjust in the future.
Revised 11/11/15
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What is an FHA Loan The Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) offer mortgage programs in all states. Product options include both fixed-rate and adjustable- rate mortgages. Features include flexible qualification guidelines for eligible borrowers. These mortgages are helpful for eligible borrowers with limited funds to use as a down payment. Ask about the advantages of the U.S. Bank Firstep program. FHA and VA mortgages give eligible borrowers the opportunity to become homeowners with low or zero down payment requirements depending on the mortgage product. FHA-allowable loan maximums are set by county and state. FHA loans are insured by the federal government. Many first-time homebuyers select FHA loans because of the program’s flexibility. VA-guaranteed loan programs are available to Military Service Veterans, current active duty service men and women and their surviving spouses. Features include: · No down payment · No mortgage insurance  
Peak Home Mortgage | 25147 Foothills Dr. N| Golden, CO| 80401| Tel: 303-526-9620 - NMLS 1008665 - CO Lic. 100044763
Call us: 303-526-9620
A A A A

Type of Loans

What is a Conventional loan Conventional   loans   work   best   when   you   have   more   than   10%   equity   or down   payment,   and   you   have   higher   credit   scores.   Conventional   loans can    also    be    used    for    a    greater    variety    of    property    types    and    loan purposes. If   you   have   less   than   20%   equity,   you   are   required   to   have   mortgage insurance,   however,   depending   on   the   loan-to-value   and   your   credit scores,   the   mortgage   insurance   can   be   very   inexpensive.   If   you   have   at least     20%     equity     or     are     making     a     20%     down     payment,     then Conventional loans are hard to beat! Minimum 5% equity or down payment (3% in limited cases) Any loan amount (over $417,000, would be considered a Jumbo loan) 640 minimum credit score Mortgage insurance required for loan-to-value over 80% Limited gift funds allowed on purchase 30 year, 20 year, 15 year terms (other terms available) Both fixed rate and adjustable rate programs No prepayment penalties Peak   Home   Mortgage   offers   a   variety   of   mortgage   products   to   meet your   needs,   including   competitive   fixed   and   adjustable   loan   rates.   Our goal   is   to   provide   you   with   the   mortgage   loan   that   suits   you   best.   Call   us today   at   303-526-9620   to   discuss   what   type   of   loan   is   best   for   you.   We are    a    full-service    mortgage    broker    with    experienced    staff    offering expertise   in   every   area   of   mortgage   lending   from   purchase   to   refinance to   construction   lending.   Our   staff   is   dedicated   to   finding   you   the   best loan    product    at    the    best    rate    and    helping    you    navigate    the    ever- changing mortgage industry!
What is a Jumbo Loan An option for consumers who wish to borrow more than the conforming loan limit of $417,000. The JUMBO mortgage products offer flexible loan terms. Financing is available for primary residences, second homes, investment properties. Primary and investment properties with 2 - 4 units are allowed. What is a Adjustable (ARM) Loan The initial mortgage interest rate may be lower than current fixed- rate loans. Choose from a number of adjustable-rate loan products. Borrowers who intend to remain in a property for a shorter period of time may prefer this option. The interest rate will adjust in the future.
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