Home Loans In Fort Collins, Colorado 

Situated at the foothills of the Rocky Mountains, the fabulous city of Fort Collins is home to a wide array of experiences. The city offers something for everyone, from diverse cultural attractions to family recreational opportunities and a vibrant nightlife scene. Plus, it’s the craft beer capital of Colorado. 

Are you looking to purchase a home in Fort Collins? Buying a house isn’t an impulsive decision. Many individuals and couples who think they’re ready to take on such a substantial financial commitment may not be as prepared. 

At Capital Home Mortgage, we can help you secure the financing you need to purchase your perfect home in Fort Collins. But first, here are the top things you should know before starting house hunting. 

3 Things Every First-Time Homebuyer In Fort Collins Should Know

     1. Start Saving Early

The down payment is not the only colossal cost you’ll need to plan for when buying a home. Many first-time homebuyers are surprised by the number and amount of purchase expenses. These include:

• Down payment — Some home loans allow as low as 3%. Particular loans allow for a 0% down payment. It’s always good to have a decent amount set aside for your down payment. It can help you avoid private mortgage insurance. 
• Closing costs — These are fees associated with finalizing your mortgage and homebuying process. They can range anywhere from 2% to 5% of the home price. 
• Moving expenses — If you’re moving to Fort Collins from another city or state, your moving expenses may run into thousands of dollars. 
• Prepaid Items – Prepaid costs are not the same as closing costs. They are upfront costs needed to obtain a mortgage. These include 1 full year of homeowners insurance and property taxes in escrow, and mortgage interest from the time you close until the end of the month.

     2. Keep Tabs On Your Credit

Even if you’ve been responsible for your credit and have consistently made on-time payments, it’s good to look at and know your credit situation before commencing the home buying process. 

The lender will do a hard credit check during the pre-approval stage, and the last thing you want is to see an unpaid bill or unexpected open account dragging down your credit score. 

     3. Work Out A Budget And Stick to It

Along with adequate savings, it’s crucial to have a strict budget that fits your lifestyle. As a first-time homebuyer, it’s easy to be drawn to a house you can’t necessarily afford. Without a budget in place, you may make an offer that is way outside your price range. 

When working out your budget, be realistic with what you can afford over the long term. Pick neighborhoods within a specific range and prioritize critical considerations, such as amenities, living space, and distance to places like work, schools, and hospitals. 

Fort Collins, Colorado Mortgage Lender 

Just because you’re a first-time homebuyer doesn’t mean finding the right home loan in Fort Collins has to be an arduous process. At Capital Home Mortgage, we’ve made it our mission to streamline the mortgage process and help ensure an enjoyable home buying experience. 

We offer a wide selection of home loan programs, including Conventional and government-backed mortgages. Plus, we’re a direct lender, meaning we make all the decisions from application to funding. This enables our loan officers to process applications faster and provide competitive interest rates. 

Get Your Home Loan In Fort Collins

Our team at Capital Home Mortgage understands how overwhelming the home loan process can be, especially to first-time borrowers. We’re committed to ensuring a smooth, hassle-free experience from start to finish. 

Call us now at (303) 226-1177 to get started.