Capital Home Mortgage Colorado

Colorado Conventional Home Loans

Conventional Mortgage Lender Colorado

Conventional Loans In Colorado

A Conventional Loan is “a mortgage that isn’t insured or guaranteed by the federal government.” They are the most common type of mortgage loan. Conventional loans can either be conforming or non-conforming.

Conforming vs. Non-Conforming Loan

Conforming loans meet the maximum loan limit the Federal Housing Finance Agency (FHFA) sets annually. They also meet the guidelines and funding criteria of the government-sponsored enterprises (GSE) FannieMae and FreddieMac. The conforming loan limit for 2023 is $726,200 for a single-family residence and up to $1,089,300 for high-cost areas like Alaska and Hawaii.

Conforming loans are frequently mixed up with conventional mortgages. Although the two categories are similar, they are not the same. A conventional mortgage is a considerably larger classification. Any loan issued by a private lender rather than a government entity such as the FHA or the U.S. Department of Veterans Affairs (VA) or supported by Fannie Mae or Freddie Mac causes the overlap—and confusion.

All conforming loans are conventional loans but not all conventional loans qualify as conforming loans.

Non-conforming loans don’t meet the requirements set forth by FannieMae and FreddieMac and are not eligible to be sold to the GSEs. Nonconforming mortgage terms and conditions vary significantly from lender to lender, but the interest rate and minimum down payment are often higher because these loans represent an additional risk for the lender. The loan is more expensive, and government-sponsored entities cannot guarantee it. A prime example of a non-conforming loan is a jumbo mortgage.

Eligibility Requirements of Conforming Loans

To qualify for a conforming loan, borrowers must have a minimum credit score of 620, a debt-to-income (DTI) ratio of less than 45%, and a down payment of 3 – 5%, depending on the borrower’s credit score. If a borrower doesn’t come up with a 20% down payment, the loan must carry Private Mortgage Insurance or PMI. Conforming loan rules allow you to get rid of your private mortgage insurance after you achieve 20% equity.

A two-year stable work history is required to be eligible for conforming loans.

Advantages of Conforming Loans

  • Conforming loans typically offer a lower interest rate than other mortgage loans to borrowers with excellent credit scores.
  • Conforming loans aren’t just for primary residences; they’re also available for investment properties, vacation homes, and second homes. Down payments and mortgage rates for second houses and rental properties are slightly higher, but it is an option.
  • Lenders prefer conforming loans because they can be packaged and sold in the secondary mortgage market.

Apply for a Conventional Loan in Colorado

Buying a home is a significant undertaking, and Capital Home Mortgage can help make the process as straightforward and enjoyable as possible. We are a full-service mortgage agency that provides a wide selection of mortgage options and the best customer service.

Call us at (303) 226-1177 to speak with one of our Home Loan Experts and get started on becoming a homeowner!

Conventional Home Loans Alaska

Conventional Loans also known as Conforming loans are used to purchase or refinance a home. “Conforming loans” are mortgages that follow the rules set by Fannie Mae and Freddie Mac and are bought from lenders and sold to investors by government-backed firms. This means that lenders can give more money to buyers who qualify. Conventional loans cost less than FHA loans, but it’s harder to get approved for them. Conventional mortgages are used for a big part of buying and refinancing homes, and many mortgage lenders offer them.

They are the most common kind of home loan and are given out by private lenders who have to follow rules set by Fannie Mae and Freddie Mac.

Conventional loan types
Loans that fit the rules are called conforming loans.
Conforming loans are mortgages that meet the limits set by the FHFA and other rules set by Fannie Mae and Freddie Mac. For loans to be sold to Fannie Mae and Freddie Mac, they have to follow the rules. This gives the mortgage market more money and stability in the long run.

Conforming loans are not the same as conventional loans, but all conventional loans are conforming loans. For a conventional-conforming loan, you need a FICO score of at least 620. The required payment is between 3 and 5% of the price of the item. If the borrower puts 20% down, private mortgage insurance must be added to the loan (PMI).

Loans that don’t fit the rules
Non-conforming loans are mortgage loans that don’t meet the rules set by Fannie Mae and Freddie Mac, two government-backed companies that invest in mortgage loans. These standards are set by the Federal Housing Finance Agency (FHFA). Non-conforming loans are jumbo loans that are bigger than the conforming loan limit.

FHA mortgages
An FHA loan is a loan that is backed by the Federal Housing Administration (FHA). The Department of Housing and Urban Development, which is part of the government, runs the Federal Housing Administration (HUD). The goal of FHA loans is to help people with low and moderate incomes get a mortgage.

One of the best things about an FHA loan is that it lets people with credit scores of 580 or higher make a down payment of as little as 3.5%. Also, closing costs for FHA loans are often lower than those for regular loans.

To get an FHA loan, lenders must meet the requirements set by the agency. Once the loan is approved, the FHA insures it to protect the lender in case the borrower doesn’t pay the mortgage.

VA Home Loans
VA home loans are made by private lenders like banks and mortgage companies, but they are backed by the U.S. Department of Veterans Affairs (VA). If the borrower doesn’t pay back the loan, the VA will cover some of it.

VA home loans are meant to help Servicemembers, Veterans, and surviving spouses who meet certain requirements become homeowners. The program offers a home loan guarantee and other services related to housing to help borrowers buy, build, fix, keep, or change a home for their own use.

Most of the time, the terms of a VA home loan are better than those of a loan from a private lender. Those who are eligible can apply for a VA home loan if they have a Certificate of Eligibility (COE) and meet credit and income requirements.

Home loans backed by the USDA
A USDA-guaranteed home loan, also called a USDA loan or a Rural Development loan, is a type of mortgage that doesn’t require a down payment and is backed by the U.S. Department of Agriculture (USDA). These loans are backed by the government and can be used to buy, build, fix, or refinance a property. They are made for people and families living in rural areas of the country who have low to moderate incomes.

To get a USDA loan, the property must be in an eligible rural area, and the borrower’s income must meet certain requirements. USDA loans can only be gotten from lenders who have been approved by the USDA.

Jumbo Loans
Jumbo home loans, which are also called non-conforming loans, are loans that are bigger than what Fannie Mae and Freddie Mac allow. Most U.S. home loans are bought and packaged by these government-backed companies and sold to investors.

You can get a jumbo mortgage for your main home, a second home or vacation home, or an investment property. They come with different terms, like fixed-rate and adjustable-rate loans. Borrowers must have a low ratio of debt to income and a strong credit score. Because jumbo loans are bigger, they usually have a higher interest rate and stricter underwriting rules than regular mortgages. They also usually require a bigger down payment.

Request a traditional loan
Buying a house is a big deal, and Capital Home Mortgage can help make the process as easy and enjoyable as possible. We are a full-service mortgage company with a wide variety of mortgage products and a promise to provide the best customer service in the industry.

Call us at (907) 531-5048 to talk to one of our Home Loan Specialists and get started on your way to becoming a homeowner!

Why Colorado 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

Colorado 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 Conventional Purchase Loans

Conventional Purchase Mortgage Lender
  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • MORTGAGE INSURANCE OPTIONS
  • LOWER RATES & FLExIXBLE TERMS
  • MAXIMUM LOAN AMOUNT – $766,550
  • HIGH BALANCE (VARIES BY COUNTY)

Colorado Conventional Refinance Loans

Conventional Refinance Mortgage Lender
  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • Mortgage Insurance Options
  • Lower Rates & Flexible Terms
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Colorado Conventional Renovation Loans

Conventional Renovation Mortgage Loans
  • 95% LTV Primary  Residence
  • 97% LTV 1st Time Buyer Single Family
  • 85% LTV on 1 Unit Investment
  • 90% LTV on Second Home
  • Minimum Credit Score 620
  • Luxury Renovations are Eligible
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)
Colorado Mortgage Programs

Colorado Home Purchase

Thinking of Buying a Colorado 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 renovation home loans

Looking to Rehab a Colorado 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 FHA Home Loans

Great for 1st Time Colorado 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 VA Home Loans

100% Financing for Colorado 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 Conventional Home Loans

Flexibility for Colorado 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 Jumbo Home Loans

Colorado 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 USDA Home Loans

100% Rural Colorado 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 Native American Loans

Colorado 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 Manufactured Home Loans

Great Alternative Colorado Housing

Colorado reverse mortgages

Your Colorado 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 Non QM Home Loans

Making Colorado 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 One Time Close mortgages

Build Your Colorado 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 Refinance Mortgage Loans

Colorado 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 Cash-out Home mortgages

Colorado 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 Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Jordan Mowrey

SR Loan Officer
NMLS 210325

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