Capital Home Mortgage Boulder

Boulder home purchase loans

Home Purchase lender Boulder Colorado

Home Purchase Loans In Boulder

Boulder, Colorado, homebuyers should brace themselves for a highly competitive market. Home prices have dropped in comparison to last year. Despite a minor decline in sales prices and an increase in inventory, Boulder remains a seller’s market, necessitating quick and decisive action by buyers.

Purchase Loan Options in Boulder

Boulder, Colorado, home buyers have various home loan programs to finance their home purchases. Among them are the following:

  • Conventional Loans

A conventional loan is a mortgage not guaranteed by the government and is often provided by private lenders. In Boulder, Colorado, conventional loans are classified as conforming and non-conforming. Conforming loans adhere to the rules established by Fannie Mae and Freddie Mac, two of the largest mortgage buyers in the United States, and typically offer lower interest rates. 

The 2023 conforming loan limits for Boulder are $856,750 for a single-unit home, $1,096,800 for a duplex, $1,325,800 for a triplex, and $1,647,650 for a quadplex.

Conforming loans have several significant advantages. They usually have lower interest rates than non-conforming loans, which results in cheaper monthly payments. Conforming loans are also easier to sell on the secondary market, making them more appealing to lenders and frequently resulting in speedier loan processing times.

Borrowers must have a solid credit score, usually a minimum of 620, to be eligible for a conventional conforming loan. A steady income and a down payment as low as 3 – 5% are frequently required. Furthermore, your debt-to-income ratio must be less than 45% to qualify for this loan.

  • FHA Loans

An FHA loan is a mortgage option that provides unique benefits to prospective Boulder, Colorado homebuyers. This type of loan, backed by the Federal Housing Administration (FHA), is intended to make homeownership more affordable. Unlike conventional loans, which the government does not endorse, FHA loans assure lenders of federal insurance. Because of this additional layer of security, lenders can provide more forgiving terms, such as lower down payments and more flexible credit standards.

An FHA loan’s low down payment requirement is one of its most notable features. If you have a minimum credit score of 580, you are eligible for an FHA loan in Boulder and most counties in Colorado, with a down payment as low as 3.5%. Furthermore, FHA loans often require a lesser credit score, sometimes as low as 500, to be eligible. 

Choosing an FHA loan in Boulder has several advantages, including cheaper closing fees. It’s an excellent alternative for first-time homebuyers or individuals with less-than-perfect credit. An FHA loan broadens your homeownership options by requiring lower down payments and allowing you to qualify with a higher debt-to-income ratio.

  • VA Loans

A VA home loan in Boulder, Colorado, is an excellent financing option designed specifically for veterans, active-duty service members, and certain eligible family members. This loan option provides unrivaled benefits such as a $0 down payment, liberal credit standards, and no need for private mortgage insurance (PMI). Furthermore, the VA loan program in Colorado has no loan restrictions, allowing borrowers to purchase a property that meets their needs without regard to financial constraints as long as the lender approves the loan amount.

The benefits of a Boulder, VA home loan are compelling. One of the most notable aspects is the lack of a down payment requirement, which makes it easier for veterans and active-duty personnel to become homeowners. Furthermore, compared to conventional loans, VA loans in Colorado offer more flexible standards, including lower minimum credit score requirements. Some lenders will even consider credit ratings as low as 600.

To be eligible for a VA loan, you will need a Certificate of Eligibility (COE), which verifies your service record and eligibility for the VA home loan program. You may be eligible for a COE if you meet at least one of the specified military service requirements. In addition, a good credit score is typically required, and you may also be required to satisfy specific income requirements and submit to a VA appraisal and pest inspection.

  • USDA Loans

A USDA home loan is a mortgage program supported by the United States Department of Agriculture and intended to promote homeownership in rural and select suburban areas. Depending on the geographic boundaries of Boulder, Colorado, some areas may qualify for this program. Direct and Guaranteed are the two principal categories of USDA home loans. The primary distinction between the two is who finances the loan. The USDA funds a USDA Direct loan, whereas a USDA Guaranteed loan is funded by a private lender but is supported by the USDA, reducing the lender’s risk.

The USDA Guaranteed Home Loan provides several advantages, including no down payment, lower mortgage insurance premiums, and more flexible credit score requirements. This loan type is intended for borrowers who may need to meet the stringent requirements for conventional loans but can still demonstrate the ability to repay the loan. This program has higher income restrictions than the Direct loan, which may differ by region.

In general, eligibility requirements for a USDA Guaranteed Home Loan include meeting income requirements, possessing a reasonably decent credit score, and purchasing a home in a rural or suburban area that qualifies. In addition, applicants must not already own a home that satisfies their family’s needs and be unable to obtain a loan from other lenders with reasonable interest rates. The program seeks to assist those who may need access to homeownership opportunities.

  • Jumbo Loans

In Boulder, Colorado, a jumbo home loan is a type of mortgage that is bigger than the limits set by the Federal Housing Finance Agency (FHFA) for conventional conforming loans. These loans are usually used to buy expensive homes and have their own rules and standards. For example, most lenders want clients to have a credit score of 720 or higher and enough cash on hand to cover their mortgage payments for at least one year.

One of the primary benefits of a jumbo loan is the ability to finance a more expensive property without needing multiple mortgages. This simplifies the procedure of purchasing a home and can provide greater flexibility. However, these loans typically require a larger down payment, between 15 and 20%.

Due to the loan size, eligibility requirements for jumbo mortgages are typically rigorous. A solid credit score, a low debt-to-income ratio, and substantial cash reserves are typical requirements. Some lenders offer jumbo loans with debt-to-income ratios of up to 50 percent and without needing mortgage insurance if certain conditions are met.

  • Non-Qualified Mortgage Loans

A Non-Qualified Mortgage (Non-QM) is a mortgage that does not meet the Consumer Financial Protection Bureau’s (CFPB) stringent requirements for a qualified mortgage. Non-QM loans may not adhere to the consumer protection provisions enumerated in the Dodd-Frank Act, providing more flexible lending criteria. These loans often cater to borrowers whose income and financial circumstances don’t suit the traditional parameters, such as variable income or recent adverse credit events.

Non-QM loans include interest-only loans, loans with limited or alternative documentation, and loans with a Debt-to-Income (DTI) ratio exceeding 45 percent. These specialized products are designed to facilitate borrowers with non-standard income structures or non-traditional property types.

Frequently, the features and benefits of non-QM loans concentrate on their adaptability. These loans may allow for lower credit scores, alternative documentation of income, and higher loan-to-value ratios because they do not adhere to standard federal guidelines. They may be especially advantageous for freelancers, business proprietors, and those with a recent credit blemish who demonstrate the ability to manage a mortgage responsibly.

Apply for a Boulder Home Purchase Loan

Capital Home Mortgage is a well-known mortgage lender and servicer in Colorado. We offer a wide range of mortgage options to meet the needs of our clients. As a result of years of experience and vast knowledge in the field, our team of mortgage experts can help you choose the best loan program for your unique needs and financial situation. Because every loan is different, our loan officers give customers the information, help, and flexibility they need to choose the best mortgage plan.  

Call (303) 226-1177 to speak with a Boulder Home Loan Specialist.

Why Boulder HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Boulder Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Boulder Home Purchase Loans

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Boulder fixed rate Mortgage Loans

All Fixed Rate Mortgage Loans are designed to have equal payments for the specified term. These loans offer predictability and are deemed to be less risky for borrowers. Fixed Rate Mortgage Loans are available with all mortgage products and are typically offered in 15 year and 30 year terms. However, Fixed Rate Mortgage Loans are also offer in 10 year, 20 year and 25 year terms although less common due to demand.

Boulder Adjustable Rate Mortgage Loans

Adjustable Rate Mortgage Loans known as ARM’s are  available with most mortgage products although limited with FHA, VA and USDA. ARM’s are great fit for homebuyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible payment.  ARM’s offers lower rates during times where fixed rates are higher. An adjustable rate mortgage is fixed for a specific time then adjusts on a predetermined time period and a predetermined amount based on a financial index and a fixed margin.

Boulder Mortgage Programs

Boulder Home Purchase

Thinking of Buying a Boulder Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Boulder renovation home loans

Looking to Rehab a Boulder Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Boulder FHA Home Loans

Great for 1st Time Boulder Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Boulder VA Home Loans

100% Financing for Boulder Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Boulder Conventional Home Loans

Flexibility for Boulder Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Boulder Jumbo Home Loans

Boulder Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Boulder USDA Home Loans

100% Rural Boulder Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Boulder Native American Loans

Boulder HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Boulder Manufactured Home Loans

Great Alternative Boulder Housing

Boulder reverse mortgages

Your Boulder Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Boulder Non QM Home Loans

Making Boulder Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Boulder One Time Close mortgages

Build Your Boulder Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Boulder Refinance Mortgage Loans

Boulder Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Boulder Cash-out Home mortgages

Boulder Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Boulder Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

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