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