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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 you dream of being 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 doesn’t necessarily mean your application will be approved. 

That’s why getting it right from the start is essential, 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), excellent (740-799), and exceptional (800-850). A fair credit score can qualify you 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, such as an on-time payment recorded as a late payment, file a dispute immediately 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 monthly debts you pay – 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 without 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 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 product for your needs. Call us at (303) 226-1177 to get started. 

Why Colorado Springs is 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

Colorado Springs 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
Colorado Springs Mortgage Programs

Colorado Springs Home Purchase

Thinking of Buying a Colorado Springs 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

Colorado Springs renovation home loans

Looking to Rehab a Colorado Springs 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

Colorado Springs FHA Home Loans

Great for 1st Time Colorado Springs 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

Colorado Springs VA Home Loans

100% Financing for Colorado Springs 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

Colorado Springs Conventional Loans

Flexibility for Colorado Springs 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

Colorado Springs Jumbo Home Loans

Colorado Springs 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

Colorado Springs USDA Home Loans

100% Rural Colorado Springs 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

Colorado Springs Native American Loans

Colorado Springs 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

Colorado Springs Manufactured Loans

Great Alternative Colorado Springs Housing

Colorado Springs reverse mortgages

Your Colorado Springs 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

Colorado Springs Non QM Home Loans

Making Colorado Springs 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

Colorado Springs One Time Close Loans

Build Your Colorado Springs 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

Colorado Springs Refinance Mortgages

Colorado Springs 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

Colorado Springs Cash-out mortgages

Colorado Springs 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

Colorado Springs 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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