Capital Home Mortgage Colorado Springs

Colorado Springs Home Loans

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Colorado Springs Colorado Mortgage Lender

Home Loans In Colorado Springs, Colorado 

Colorado Springs is Colorado’s second-most populous city and 40th-most populous in the United States. It is home to 24 national sports governing bodies like the United States Olympic & Paralympic Committee and the United States Olympic Training Center.

The housing market in Colorado Springs remains hot, especially with the latest ranking by U.S. News, which shows the city as sixth among the top 150 Best Places to Live in the U.S. 

If it is your dream to be a homeowner in Colorado Springs, you’ll likely need to obtain a mortgage loan. We can help. But first, you should know how to improve your chances of getting the right mortgage for your needs.

Tips For Securing A Mortgage

A mortgage loan application process indeed requires patience and cooperation. It is also true that just because you’ve been pre-qualified for a loan or even pre-approved, it doesn’t necessarily mean your application will be approved. 

That’s why it’s essential to get it right from the start, so you don’t waste time going through the process only to end up with a rejected application. With that in mind, here are some tips to consider:

  • Check Your Credit Score

This three-digit figure can determine the fate of your mortgage application. Lenders may reject or accept your application based on your credit score. If they take your application, the credit score will also be the basis of the interest rates, among other considerations. 

There are five categories of FICO scores: poor (300-579), fair (580-669), good (670-739), very good (740-799), and exceptional (800-850). A fair credit score can get you qualified for an FHA loan, but it won’t suffice for a conventional loan.

  • Review Your Credit Report

Ensure all the recorded information is accurate when you get a credit report from any of the big three credit bureaus — Experian, Equifax, and TransUnion. Review the transactions listed and check if there are errors. 

No matter how small, any errors can negatively impact your credit score. If you notice any discrepancies, for example,  an on-time payment recorded as a late payment, file a dispute right away to have the report updated. 

  • Lower Your Debt-to-Income (DTI) Ratio

The DTI ratio is another crucial factor in mortgage loan applications. It tells you how well you managed credit in the past and how much of your monthly gross income is spent on repaying your debts. The percentage of your gross monthly income pays your monthly obligations.

You must be aware of two types of debt-to-income ratios: (a) the front-end ratio and (b) the back-end ratio.

Front-end ratio = also known as a household ratio. The dollar amount of your proposed housing expense (your future monthly mortgage payment includes the principal, interest, taxes, insurance, and homeowners association fees – is divided by your gross monthly income. The ideal front-end ratio is less than 36%

Back-end ratio = includes all other debts you pay each month – credit cards, student loans, personal loans, car loans, and others PLUS your proposed housing expense. Anything above 45% may impact your application. 

If your DTI is too high, you will likely struggle to qualify for a mortgage. One of the best ways to lower your DTI is to pay off as much of your current debts as possible before applying for a mortgage. You may also increase your monthly income while not taking on any new debt. 

Colorado Springs, Colorado Mortgage Lender

At Capital Home Mortgage, we offer a transparent mortgage application process. We’ll discuss all the steps in applying and the fees you need to pay. We’re also happy to provide you with expert advice on boosting your chances of getting approved for the right home loan. 

Since we’re a direct mortgage lender, you can expect lower processing fees and competitive interest rates. Our loan officers will work with you directly throughout the process, meaning you don’t have to worry about certain charges, such as broker fees. 

Get a Home Loan in Colorado Springs

Turn to Capital Home Mortgage to find the perfect mortgage program for your needs. Call us at (303) 226-1177 to get started. 

Why Colorado Springs is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Colorado Springs Rates / Low Fees

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Colorado Springs Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Colorado Springs Mortgage Rates

Capital Home Mortgage Colorado Springs is dedicated to offering Great Colorado Springs Mortgage Rates. 

Call now to speak with a Loan Officer or request a no obligation custom rate quote.

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

Colorado Springs Colorado Mortgage Loans

Colorado Springs Home Purchases

Buying a Colorado Springs Home?

  • Primary, 2nd, Investment
  • Low Rates & Low Fees
  • Conventional, FHA, VA, USDA
  • Jumbo, Reno, Manufactured

Colorado Springs Renovation Home Loans

Colorado Springs Rehab Loans

  • Remodel, Renovate, Repair
  • FHA 203K Streamline or Full
  • Fannie Mae Homestyle Reno
  • Freddie Mac Choice Reno

Colorado Springs FHA Home Loans

1st Time Colorado Springs Homebuyers

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

Colorado Springs VA Home Loans

100% Loans for Colorado Springs Veterans

  • Simply Qualifying
  • No Down Payments 
  • Lower Credit Scores Allowed
  • Manual Underwriting Allowed

Colorado Springs Conventional Home Loans

Flexibility for Colorado Springs Buyers

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

Colorado Springs Jumbo Home Loans

Great Colorado Springs Rates

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

Colorado Springs USDA Home Loans

Colorado Springs Rural Properties

  • Rural Properties Only
  • Primary Residence Only
  • New Manufactured Homes
  • Closing Costs Can Be Rolled In

Colorado Springs Native American Loans

Colorado Springs HUD 184 Loans

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

Colorado Springs Manufactured Home Loans

Colorado Springs Mobile Home Loans

  • Purchase or Refinance
  • New Home Purchase
  • OTC Combo Land & Home
  • FHA, VA, USDA, & HUD 184

Colorado Springs Reverse Mortgages

Your Colorado Springs Home at Work

  • Primary Residence Only
  • Simple Qualifying
  • Credit Scores Not Applicable
  • Minimum Age 62

Colorado Springs Cash Out Mortgage Refinance

Colorado Springs Equity Refinance

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

Colorado Springs Mortgage Refinance

Colorado Springs Rate & Term Refinance

  • Purchase, Refi & Cash-out
  • Primary, 2nd & Investment
  • Full Doc & Alt Doc Programs
  • Corporations OK

Colorado Springs Colorado Mortgage Team

Dale Gremillion

Managing Director
NMLS 210325

Kelvin Thompson

Loan Officer
NMLS 2050042

Amy Bird

Loan Officer
NMLS 169849

Cristina Roca

Loan Officer
NMLS 1926089

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