Home Loans In Denver, Colorado 

The Mile High City of Denver needs no lengthy introduction. Situated one mile above sea level, the city boasts world-class cultural attractions, thriving outdoor adventures, and diverse residential communities. 

In the wake of the global COVID disruptions, Denver’s housing market is expected to return to pre-pandemic times slowly. If you’ve wanted to buy a home in Denver, now is the time to start looking into mortgage loan options. 

At Capital Home Mortgage, we provide a variety of home loan programs directly to potential homebuyers. No middlemen and no unnecessary third parties. Let’s walk you through some of our mortgage products so you can better understand which option best suits your home financing needs. 

3 Most Popular Denver Mortgage Products

• Conventional Loans

A Conventional loan is a mortgage product that is without government backing. This increases risk exposure for lenders, so the qualification requirements for conventional loans are generally stricter. 

At a minimum, your credit score should be 620 to qualify for a conventional loan. Your credit report must also be clean. The down payment requirement is 3 – 5%, but anything lower than a 20% down payment will incur private mortgage insurance premiums. 

This type of home loan is ideal for Americans with high monthly incomes and good credit history. If you’re making more than the median income in your area, you can earn a high monthly income.

• Jumbo Loans

Conventional loans are subject to limits set by the Federal Housing Finance Agency. Homebuyers cannot use them to finance luxury properties or real estate in high-end cities. For this type of home financing, you need a Jumbo loan. 

As you can imagine, the eligibility requirements for Jumbo home loans are much more stringent. For one, borrowers must have a credit score of 700 and up. You must also be a high-income earner with a decent asset collection. 

• FHA Loans

An FHA loan is a government-backed loan that aims to help Americans with low income and credit scores. 

First-time homebuyers typically go for FHA loans because they have less stringent requirements than conventional loans. Sometimes, first-time homebuyers may not have a stellar credit score or enough savings for a sizable down payment. To that end, FHA loans can accept credit scores as low as 500, provided the borrower can pay a down payment of at least 10%. 

Rates on FHA loans can also be competitive, but it will depend on several other factors, like the prevailing rate, income level, credit score, loan amount, and loan term. We also offer other government-insured loans like VA, USDA, and HUD 184. 

Denver, Colorado Mortgage Lender

As direct mortgage lenders in Denver, Capital Home Mortgage handles all applications and funds all mortgages from our coffers. As part of our commitment to ensuring an enjoyable home-buying experience, we offer competitive interests, low processing fees, and convenient underwriting policies for faster approvals. 

Get A Home Loan In Denver Now

Contact our Denver mortgage officers to find the right home loan program for you. Call us at (303) 226-1177 for a free, no-obligation quote on your loan. We look forward to providing your next home loan in Denver.