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First time homebuyers and homebuyers can benefit from a new program referred to as a 2-1 Buydown fixed rate program. This means that the first year of the loan your rate will be 2% below the current effective rate and then the second year it will be 1% below the current effective rate. The lower rates result in lower payments for the first 2 years which can amount to a significant amount of  savings. The 2-1 Buydown is funded by the seller, realtor, or a combination of both, so it is not coming out of your pocket. If you have a scenario you would like me to analyze or if you would like to know more about the 2-1 Buydown fixed rate program simply give me a call at (303) 650-9400. 

Posted by Ken Morley on September 22nd, 2022 1:41 PM

With home loans the middle credit score of the 3 major credit bureaus is "King". This number has been referred to as "FICO" score, middle score, or simply your credit score. It will help determine the programs available, the interest rate you pay, and even the amount of monthly mortgage insurance you pay on a conventional loan if purchasing a home with less than 20% down. As you probably already know the higher your score the more favorable terms you'll be offered. This is where the savings can amount to thousands of dollars over the life of your loan. Can you improve your credit score? Yes you can in most cases, by utilizing our FREE Credit Upgrade Program for home loans! Rather than waiting 3 months or longer for your "FICO" to improve we have seen results in as little as 3 business days but each persons situation is different so the time to completion and results may vary. We have had great success so I would encourage anyone with a "FICO" score below 740 to inquire as the savings may be substantial. Simply give me a call at (303) 650-9400! This is a limited time offer.

Posted by Ken Morley on September 13th, 2022 10:50 AM

So you have just purchased a property for cash and now you would like to get money back out of the property rather than have it tied up in the home. There is a little known program called "Delayed Financing" set up specifically for this case. The property must be purchased for cash and the source of funds for the purchase must be documented. If you would like to learn more about the Delayed Financing option simply give us a call at (303) 650-9400. 

Posted by Ken Morley on August 10th, 2022 11:20 AM

Discussions around the adjustable rate mortgage (ARM) are now  beginning to surface again due to higher fixed rates. Here are a few important features of the ARM to keep in mind. The starting rate, typically lower than a fixed rate, is temporary and will only last for a specified amount of time. For example a 5/1 ARM will have the lower (starting) rate for 5 years and then the rate will adjust annually every year based on a margin plus the index. ARM loans do have caps which limit the amount the rate can adjust each year and then a lifetime cap which is the highest the rate could ever go.  ARMs also have a "floor" or bottom rate which is the lowest the loan will allow. Adjustments in the rate will result in adjustments to your monthly payment. Although thoughts are that rates will come back down in the future, there is no guarantee so this adds an element of risk to an ARM loan. An ARM loan also may work to your advantage if you are only planning to stay in your home short-term before the first adjustments occur. To learn more about ARM loans and whether they will work out well for you simply give us a call at (303) 650-9400 or click on our "Apply Now" button on the home page. Hope this have been helpful! 

Posted by Ken Morley on July 29th, 2022 10:27 AM

Looking to purchase a new home? I thought I would share with you a limited time pilot program offered by Freddie Mac entitled "BorrowerSmart". Purchase clients with income at or under 80% of the area median Income (AMI) for the county they wish to purchase in receive a $1,250 credit and those under 50% of the AMI receive $2,500 credit off down payment & closing costs! For example, in the Denver-Metro counties 80% of the AMI is $83,840 and 50% of the AMI would be $52,400. Again the AMI is determined by the county where you wish to buy and the program is available for a primary residence only. This would help you to save even more of your hard earned money. It is subject to credit and property approval. On a first come, first served basis this pilot program is scheduled to end once Freddie Mac has 2,000 loans that are expected to close. Give us a call today at (303) 650-9400 to see if you qualify. 


Posted by Ken Morley on May 19th, 2022 11:10 AM

Many people now feel that the rising interest rates have made buying a home just that much more difficult. I suggest doing your research by getting a quote from at least three different companies and comparing each quote. Besides the rate the other factor you want to consider is the Annual Percentage Rate or APR. You should see both the rate and APR on any advertisement. The rate will be used to determine your monthly principle and interest payment. The APR amortizes the cost of your loan over the term selected. The further the spread between the rate and APR the higher your cost will be. The rate you see will on any advertisement will catch your attention (that's what it is designed to do) but the APR will give you an idea of how much it costs to obtain that rate. The APR calculation can vary a little from lender to lender so it's best to get a breakdown of the actual costs for each so you can make a good comparison.  A mortgage broker such as A Home's Best Mortgage has access to a number of different lenders, rates, and programs. These lenders compete for your business each day by offering better rates, more options, and innovative products. This gives you more purchasing power and/or saves you more of your hard earned money. Our focus is to give you our lowest rate with the least amount of costs. Put us up against any offer you have and I think you will be pleasantly surprised. Check us out by filling out our "Quick Quote" on our website or giving us a call at (303) 650-9400! There is no cost or obligation.

Posted by Ken Morley on May 3rd, 2022 1:28 PM

Conventional Loan Limits have increased to $625,000 and we are honoring these higher limits right now. The lower rates and easier qualification make this a better option than a Jumbo Loan. Please give us a call for the details at (303) 650-9400 today!

Posted by Ken Morley on October 25th, 2021 2:02 PM

Fannie Mae's Refi Now makes it easier for eligible homeowners earning at or below 80% of the area median income (AMI) to refinance into a lower rate and reduce their monthly mortgage payment. Your loan must be owned by Fannie Mae. Other restrictions apply but the major highlights include:

  • Requiring a reduction in the homeowner’s interest rate by a minimum of 50 basis points and a savings of at least $50 in the homeowner’s monthly mortgage payment.
  • Providing a $500 credit from Fannie Mae to the lender at the time the loan is purchased if an appraisal was obtained for the transaction. The lender must pass the credit to the homeowner.
  • A mortgage with a loan-to-value ratio up to 97%, a debt-to-income ratio of 65% or less, and a minimum 620 FICO score.

Are you able to "RefiNow"? We can help to see if you qualify. Simply give us a call at (303) 650-9400.

Posted by Ken Morley on July 20th, 2021 3:39 PM
At the time of writing this blog the rates are at or near historical lows so there are plenty of advertisements letting you know how low the rates are. Besides the rate the other factor you want to consider is the Annual Percentage Rate or APR. You should see both the rate and APR on any advertisement. The rate will be used to determine your monthly principle and interest payment. The APR amortizes the cost of your loan over the term selected. The further the spread between the rate and APR the higher your cost will be. The rate you see will catch your attention (that's what it is designed to do) but the APR will give you an idea of how much it costs to obtain that rate. The APR calculation can vary a little from lender to lender so it's best to get a breakdown of the costs for each so you can make a good comparison.  Our focus is to give you our lowest rate with the least amount of costs. Put us up against any offer you have and I think you will be pleasantly surprised. Check us out by filling out our "Quick Quote" or giving us a call at (303) 650-9400! 
Posted in:General
Posted by Ken Morley on April 11th, 2020 12:14 PM
Loan limits have been increased for 2020 and are available now. This means you could purchase a new primary residence for up to $525,700 in Colorado putting down as little as 3% with approved credit. Call for the details at (303) 650-9400.
Posted in:General
Posted by Ken Morley on November 27th, 2019 11:18 AM

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