LoDo

Looking for Denver Real Estate? LoDo is Denver’s oldest neighborhood, which means it’s home to some of the city’s most prominent and beloved landmarks, some of which are what define the Denver experience. Denver has always had a variety of nicknames, but the first nickname to ever stick to the Mile High City is LoDo, which applies to the old warehouse area of lower downtown by Union Station, according to Westword Magazine. Now, LoDo is known as the mixed-use historic district, home to some of Denver’s most loved and recognized restaurants, bars, hotels, and entertainment. Take a look at the article below if you’d like to learn more about the wonders that LoDo has to offer. 

If you’re looking to buy, sell, or invest in LoDo and you’d like to learn more about the neighborhood market, then please contact us here. 

If you’re looking to explore LoDo during the day, don’t forget to start off by exploring the lovely boutiques. After you’ve grabbed your morning coffee from one of Denver’s most loved coffee shops, take a walk into some of Denver’s most loved boutiques. If you’re in Larimer Square, head over to Hailee Grace where you can find this season’s hottest clothes, swimwear, and accessories. Once you’ve finished up at Hailee Grace, head on over to Alchemy Works, a coastal California retail, gallery, and event space concept located at Free Market. Featured in Vogue, Conde Nast Traveler, and Style.com, Alchemy Works carries brands like Warby Parker, Sandoval, Casa Clara, and Mau Jewelry. Next time you’re taking a stroll through the city, don’t forget to stop into these boutiques to pick up your next favorite pieces. 

Once you’ve finished up your morning shopping, spend the rest of the day outside enjoying the beautiful weather that Colorado has to offer. Whether you’re looking to host a picnic at the park, or buy some tickets for the Rockies game, with 300 days of sunshine, nearly any day is perfect to spend time outside. If you’re looking to host a sweet picnic outside with your friends and family, find your perfect spot at Confluence Park or Commons Park, two of downtown Denver’s most popular parks right in the middle of the city. Confluence Park lies at the joining of Cherry Creek with the South Platte River. If you love biking or talking long walks along the South Platte River, then definitely take your time to take a scenic walk. Or if you’re feeling a little more adventurous, consider renting a kayak from Confluence Kayaks and kayak down the river (yes you can actually do that!) If kayaking feels like too much, then you’re also able to bring down your tube and go tubing.

So you’ve officially done one of the coolest things ever; tubing in the middle of the city, what to do next? Nowhere better to relax than at the Colorado Rockies game at Coors Field with a delicious hot dog, refreshing drink, and ice cream on a sunny day. If you’ve ever explored Denver during the summer before or after a rockies game, then I’m sure you’re familiar with experiencing the spirit and excitement from the fans all across the city. You’ll be sure to see crowds with purple gear all over the city and outdoor patios around the stadium overflowing with fans, before, during, and after the game. If eating delicious snacks for three hours isn’t your thing, then walk on over to Union Station, one of Denver’s most loved and transformed landmarks. If you’ve visited friends in Denver, then I’m sure they’ve taken you to Union Station to either grab a special drink from Terminal Bar, grab some brunch from Snooze an A.M. Eatery, or maybe even to just pop in and grab some ice cream from Milkbox Ice Creamery and a cup of coffee from Pigtrain Coffee Co. Regardless of why you’re here, if you’re looking for the center of downtown Denver, then Union Station is the heart of it all.  

So far, you’ve had quite the long day, so where better to chill out for a couple of hours and take a sweet nap than in your fabulous airbnb or historic hotel room at The Oxford Hotel. Whether you’re visiting Denver from out of state, or a Denver native that’s looking to get to know the city from a tourist point of view, staying in an airbnb or a historic hotel in the middle of the city is the best way to get to know the culture of a city. If you’re looking for a unique stay experience, we recommend checking out the “Historic Carriage House”, LoDo’s coolest airbnb. This home originally sheltered horses in the late 1800s and has been featured in Architectural Digest online as Colorado’s most unique and beautiful Airbnb property. If you’d like to take an alternative route to your overnight stay, then there’s no better hotel in LoDo than The Oxford Hotel. With roots dating back to the 19th century, The Oxford offers 80 guest rooms and suites, a breathtaking collection of art through the halls, the Oxford Club Spa, and one of Denver’s most loved bars, The Cruise Room. Whether you’re looking for a rustic or luxurious stay, you’ll find it in LoDo. 

Okay, so you’ve had your nap in your luxurious bed and facial at the Oxford Club Spa, now it’s time to get your most favorite night-out outfit and head on over to dinner before your late night fun. LoDo is one of Denver’s most loved neighborhoods for nightlife; whether you’re looking for a 1920s speakeasy, romantic dinner for two, or wanna have a laugh or two at a comedy club, you can find everything you need in LoDo. 

If you’re looking for a romantic dinner for two, or celebrating a special occasion, make a reservation at Fogo de Chao Brazilian Steakhouse, one of Denver’s most loved steakhouses. Fogo de Chao takes the experience of a steakhouse to a whole new level, bringing the churrasco grilling tradition to Denver. If you’re looking for a more casual occasion for your night out, look no further than Hopdoddy Burger Bar in Union Station, blocks away from Coors Field. If you’re in need of a delicious burger with Hot Honey & Sage Sweet Potato Fries and a boozy vanilla milkshake, then head on over to Hopdoddy immediately to fulfil your late night cravings. Maybe you're in search of dinner and a show? If so, make a reservation at Ophelia’s Electric Soapbox to indulge in the ‘70s swank and vintage soft-core art at this adult-themed fun house. At Ophelia's, you can enjoy their small-plate menu of eclectic offerings, while overlooking their sunken stage and dance floor with live music. If a loud, wild scene isn’t your thing and you’re looking to just have a good laugh, then buy some tickets for Comedy Works where you can experience world-class laughs from comedians known locally, nationally, and internationally.

For any information on Denver’s real estate market, check out Denver’s Flat Fee Realtor!

Flat Fee Real Estate In Broomfield

Flat Fee Home Selling

Save thousands with Fixed Rate’s low flat fee. You’ll get full service real estate at a fraction of the cost of a traditional agent.

SAVE THOUSANDS WHEN SELLING YOUR HOME

NO PERCENTAGE COMMISSION FEE, JUST A FLAT FEE OF $5,000 PAID AT CLOSING.

Protect your equity with our low flat fee approach. Just $5,000 paid at closing. Our mission is to bring down the high cost of selling a house and pass those savings back to you. With over 94% of home buyers searching for homes online, it is critical to properly showcase your home online with the correct representation. Our low flat fee, easy-to-use technology saves homeowners an average of 10,000 in commission fees.

Your home is more than a building or an address; it is the storehouse of your most treasured memories. Your Home holds the character of the lives lived within its walls. It’s the way the sunlight streams in, the creek in the stairs, the feeling you have when you walk in the door. Our goal is to represent your extraordinary home and its story, to pass along its character and the lifestyle it inspires. We are honored to partner with you in telling your story.

PROFESSIONAL HOME SELLING SERVICES

Fixed Rate Real Estate is Denver’s premier real estate firm, constantly on the pulse of what it takes to sell a home. Getting your house exposed to as many qualified buyers as possible and SOLD has never been easier with Fixed Rate’s in house company marketing services. Our professional service Includes:

• Comparative Market Analysis

• Advice on Proper Pricing & Offer Terms

• Exposure to Hundreds of Qualified Buyers Relocating to Denver by Employers

• Property Showing Coordination, Agent Feedback & Client Reports

• Professional HD Property Photos & Virtual Tour

• Professional Property Brochures

• Yard Sign, Brochure Box & Lockbox

• Website Marketing on Top Housing Search Engines, Including Realtor.com, Homes.com, REColorado.com & Zillow.com

• Property Special Feature Cards

• E-mail Marketing Campaigns to over 10,000 Additional Denver Real Estate Agents

• Neighborhood Open House

• Personal Phone Calls to Prospect Lists

• Exposure on Social Media, Including Facebook & Instagram

• Personal Blog Post

• Just Listed Direct Mail Campaign to Neighborhood

If you are considering selling your home, contact us for a complimentary market analysis. See what your home is really worth, and how much you can save. We go above and beyond the typical agent, offering state of the art technology and fresh marketing ideas to sell your home. Contact us to learn more!

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Flat Fee Real Estate In Aurora

Flat Fee Home Selling

Protect your equity and save thousands in fees with Fixed Rate’s low flat fee. You’ll get full service real estate at a fraction of the cost of a traditional agent.

SAVE THOUSANDS WHEN SELLING YOUR HOME

NO PERCENTAGE COMMISSION FEE, JUST A FLAT FEE OF $5,000 PAID AT CLOSING.

Protect your equity with our low flat fee approach. Just $5,000 paid at closing. Our mission is to bring down the high cost of selling a house and pass those savings back to you. With over 94% of home buyers searching for homes online, it is critical to properly showcase your home online with the correct representation. Our low flat fee, easy-to-use technology saves homeowners an average of 10,000 in commission fees.

Your home is more than a building or an address; it is the storehouse of your most treasured memories. Your Home holds the character of the lives lived within its walls. It’s the way the sunlight streams in, the creek in the stairs, the feeling you have when you walk in the door. Our goal is to represent your extraordinary home and its story, to pass along its character and the lifestyle it inspires. We are honored to partner with you in telling your story.

PROFESSIONAL HOME SELLING SERVICES

Fixed Rate Real Estate is Denver’s premier real estate firm, constantly on the pulse of what it takes to sell a home. Getting your house exposed to as many qualified buyers as possible and SOLD has never been easier with Fixed Rate’s in house company marketing services. Our professional service Includes:

• Comparative Market Analysis

• Advice on Proper Pricing & Offer Terms

• Exposure to Hundreds of Qualified Buyers Relocating to Denver by Employers

• Property Showing Coordination, Agent Feedback & Client Reports

• Professional HD Property Photos & Virtual Tour

• Professional Property Brochures

• Yard Sign, Brochure Box & Lockbox

• Website Marketing on Top Housing Search Engines, Including Realtor.com, Homes.com, REColorado.com & Zillow.com

• Property Special Feature Cards

• E-mail Marketing Campaigns to over 10,000 Additional Denver Real Estate Agents

• Neighborhood Open House

• Personal Phone Calls to Prospect Lists

• Exposure on Social Media, Including Facebook & Instagram

• Personal Blog Post

• Just Listed Direct Mail Campaign to Neighborhood

If you are considering selling your home, contact us for a complimentary market analysis. See what your home is really worth, and how much you can save. We go above and beyond the typical agent, offering state of the art technology and fresh marketing ideas to sell your home. Contact us to learn more!

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What Is A Good Credit Score?

There’s no one definition of a good credit score. That’s because there are several different credit scores that depend on different scoring models with different score ranges, and different lenders have their own standards for rating credit scores.

That being said, scores starting in the high 600s and up to the mid-700s (on a scale of 300 to 850) are generally considered to be good.

How A Good Credit Score Can Help You

A credit score is a numeric representation, based on the information in your credit reports, of how “risky” you are as a borrower. In other words, it tells lenders how likely you are to pay back the amount you take on as debt.

Credit scores are one piece of the puzzle that lenders look at to determine whether or not to lend to you. A good credit score can help you get access to a greater variety of loan offers. And if a lender approves your application for credit, a good or excellent credit score can help you qualify for lower interest rates and better terms.

In general, the higher your scores, the better your chances of getting approved for loans with more-favorable terms, including lower interest rates and fees. And this can mean significant savings over the life of the loan.

Having a good score doesn’t necessarily mean you’ll be approved for credit or get the lowest interest rates though, as lenders consider other factors, too. But understanding your credit scores could help you decide which offers to apply for — or how to work on your credit before applying.

Credit Score Ranges

There are many different credit-scoring models, and each one uses a unique formula to calculate credit scores based on the information in your credit reports. Even the best-known credit-scoring companies, FICO and VantageScore, have multiple credit-scoring models that produce different scores. (Credit Karma offers free VantageScore 3.0 credit scores from Equifax and TransUnion.)

But while there are many different credit scores, the most common models all use a scale ranging from 300 to 850. Within this scale, there are some general credit score ranges that can help you interpret what your scores mean.

Here are the credit score ranges to be aware of and what they mean for you.

Poor credit scores: 300 to low-600s

Having poor credit scores can make it difficult to get approved for a loan or unsecured credit card. But a poor credit score isn’t a financial dead end. Certain financial products, like secured credit cards, can help people who are working on building their credit. These products can be a helpful stepping-stone to accessing credit with better terms — if you use them carefully.

Be aware of potential fees and higher interest rates with credit-building products. And make sure the issuer or lender reports to the three major consumer credit bureaus — Equifax, Experian and TransUnion — so that important actions, like when you make on-time payments, can contribute to your scores.

Fair To Good Credit Scores: Low 600s - mid 700s

While you’re comparing your options, know that applying for a new loan or credit card may result in a hard inquiry, which can have a negative impact on your scores. Loans with preapproval or prequalification options can give you an idea of the terms you might qualify for ahead of time.

Very Good And Excellent Credit Scores: Above Mid 700s

People with top credit scores are the most likely to be approved for loans and credit cards with low interest rates and good repayment terms. But having very good or excellent credit scores doesn’t mean you’re a shoo-in for every loan or credit card out there. A lender could deny an application for another reason, like a high debt-to-income ratio.

Regardless of your scores, it’s a good idea to keep an eye on your credit reports so that you’ll know what lenders will see once you apply for a loan.

What Is The Highest Credit Score You Can Get?

There are lots of different credit scores with different ranges out there. But for the major consumer credit scores, generally the highest credit score you can get is 850.

Keep in mind that perfect credit scores may not be necessary to qualify for great rates on loans and mortgages. Once you’re in the “very good to excellent” range, you likely won’t see much of a difference in terms of interest rate offers from, say, a 790 to an 840. Moving from a 650 to a 700 will likely have a more significant impact, which is why the general credit score ranges are important benchmarks to consider.

How Good Should My Credit Scores Be…

To Buy A House

With today’s market, you can purchase a home with a credit score as low as 620, which is the lower end of the “good” credit range. But credit requirements vary depending on your state.

To Rent An Apartment

Prospective landlords may run a credit check before you can sign a lease, but there’s no single credit score benchmark you need to hit to be able to rent an apartment. It can depend on the factors the landlord is looking for in a tenant, as well as where you’re looking to rent.

To Get Approved For A Credit Card

It’s possible to get approved for a credit card with poor credit — or even no credit at all. Once you know what range your credit scores fall into, you can research cards that suit you and your goals.

If you have no credit, look for secured cards or cards for beginners (like student cards). If you have limited or poor credit, secured cards or cards advertised for building or rebuilding credit could be a helpful leg up. Once you’ve improved your credit, you may be able to qualify for more-enticing offers, such as rewards cards or balance transfer cards.

To Get Approved For A Car Loan

You may be able to get approved for a car loan with a poor credit score, but it could be more difficult to find one to qualify for, and you could face high interest rates. If you’re still working on your credit and can’t wait to take out a car loan, consider asking a trusted family member or friend to act as a co-signer, or see if you can put down a larger down payment.

Good credit scores can mean better terms, but it’s still worth comparison shopping.

FAQs

How do I get a good credit score?
Building a good credit score can take time. Here are some general practices we recommend that can help you stay on the right track.

• Check your reports. Knowing your scores and being aware of what’s on your credit reports is the first step to working on your credit. You can check your credit reports from Equifax and TransUnion for free on Credit Karma. Credit Karma also offers free credit monitoring.

• Pay on time. Your payment history is a major factor in your credit scores.

• Pay in full. Keeping your credit card balances low can not only save you money on interest, but can also help keep your credit utilization rate down. Your credit utilization rate is how much of your available credit you’re using. A good rule of thumb is to keep it below 30% of your total credit limit.

• Don’t close old credit accounts. A longer credit history can help increase your credit scores by showing that you understand credit and have been using it for a long time. Keeping your oldest accounts open can ensure that your overall credit history continues to age.

• Consider your credit mix. Your credit mix reflects the different types of credit you have on your reports, from credit cards to student loans. We don’t recommend applying for a loan just to get another type of credit account on your reports, but it’s good to know that this can factor into your scores.

How long does it take to get a good credit score?

It depends on where you’re starting from and what challenges you’re facing. But building good credit probably won’t happen overnight.

If you’re brand new to credit, it could take months of using beginner products like secured cards to make significant progress in the types of financial products you qualify for. If you have dings on your credit reports, like late or missed payments or a bankruptcy, it could take years for those derogatory marks to fall off and stop affecting your scores.

But even if you have years left before those derogatory marks officially fall off, you can still see significant progress. The important thing is to work steadily toward getting your credit in good shape and understand that building credit is a journey.

How do I find out what my credit scores are?

You can get your scores from Equifax and TransUnion for free on Credit Karma. Checking your own scores won’t hurt your credit. And you’re entitled to free credit reports from Equifax and TransUnion each year with details about important credit factors so that it’s easy to track your progress.

What Is An Interest Only Mortgage?

In an interest only mortgage, the borrower covers interest on payments for a specific period of time, paying the cost of borrowing money up front, while the principal remains unchanged. This allows for reduced monthly mortgage payments early in the loan term. An interest only home loan can offer flexibility to buy a more expensive home than a borrower initially qualifies to buy. They can also be a great way to lower payments so you can divert your cash flow toward retirement, college tuition or a rainy day fund.

In traditional mortgages, payments are applied to both interest and principal. Through amortization the balance of the loan decreases over the term of the loan. Interest only mortgages are structured differently: The most common version pushes back the amortization schedule, usually 5 to 10 years, while the borrower pays interest only. The other type lasts the duration of the loan, with an agreement principal that will be settled with one balloon payment at the end of the term.

While initial payments as part of an interest only mortgage are lower, borrowers should be aware that over the life of the loan they are more expensive than traditional mortgages. Interest only loans can also be subject to adjustable interest rates. Negative amortization, a feature where missed interest payments are applied to the principal balance, is also a risk inherent to interest only loans. Keep reading to learn more and explore the circumstances that make the most sense to purse an interest only loan.

Is an interest only mortgage right for you?

Here are five questions to help you determine whether an interest only mortgage is the perfect match:

• Are you confident your income will grow in the future, but want to purchase high-value real estate now?

• Are you more interested in lower monthly mortgage payments than building home equity?

• Are you looking to invest your money in something other than your home?

• Are you fine with the prospect of your monthly mortgage payment going up when the interest-only term ends?

• Do you own investment homes and rent them out?

If you answered “YES” to any of these questions, an interest only mortgage might be your best bet! A word of consideration—while interest only home loans offer low monthly payments during the initial term of your loan, your monthly payments will rise after this term ends to cover the principal. If you don’t expect your income to increase in the foreseeable future or if you’re unsure you’ll be able to make the larger payments later on, a 15 or 30-year fixed rate mortgage could be a better fit. In addition, it may be more difficult to refinance your mortgage if your home value doesn’t increase during the lifetime of your loan. Those buying a home for the first time may find interest-only mortgages particularly beneficial. For new homeowners, who are unaccustomed to the higher cost of mortgage payments and the other costs of maintaining a home, the first years of home ownership can be particularly challenging. In many cases, you are buying a house you expect to pay off years down the line, when you are more established and may be making more money, thus the initial costs may seem daunting. If a water heater suddenly needs replacing or a roof suddenly needs to be fixed, the option to exercise an interest only mortgage at that time can come in handy, as long as you are able to cover the higher monthly payments later on.If your income is subject to fluctuation either because of freelance work or commissions and bonuses, rather than a typical flat salary, an interest-only mortgage can be similarly beneficial. Pay interest-only payments during leaner months and years with the anticipation of paying more later on. Risks of interest only payments. Making a smaller monthly payment for a period of time, with the anticipation that you’ll have the money to make larger payments down the line, always carries a risk. The total balance of what is owed on your mortgage is not changing, thus if your financial circumstances do change you may find monthly payments more difficult down the line. Additionally, the housing market can be fickle and the property purchased may fail to appreciate in value. Even if the value remains much the same, if the borrower has negative amortization you may wind up owing more on the mortgage than the actual value of the house making it difficult to make a profit on the house when and if they decide to sell. How much is an interest only payment?

When considering an interest only mortgage, do the math to figure out if you're able to handle the amount of the monthly payment. Figuring out the monthly interest only payment on your mortgage is easy. Say that the unpaid loan balance on your property is $400,000 with an interest rate of 7%. Multiply those numbers together for an annual interest of $28,000. Divide that number by 12 months and you can find your monthly interest payment: $2,333. Keep in mind that after the interest-only period, your payments will increase as you begin to pay back the loan principal.

What Is A VA Loan?

What is a VA home loan?

The US Government's VA loans program helps veterans, active-duty service members and their families qualify for a home loan. Though they are issued by private lenders like Guaranteed Rate, VA home loans are backed by the US Department of Veterans Affairs. Created during World War II to help returning service men and women purchase homes, this program has guaranteed over 22 million VA loans since 1944.

VA home loans feature no down payment or private mortgage insurance (PMI) requirements, making them a great choice for any veteran or active service member looking to purchase a home. Since the housing market collapse of the 2000s, VA home loans have become even more critical in the wake of stricter lending requirements. For this reason, a guaranteed VA loan is often the best and easiest way for veterans to purchase a home of their own.

What are VA home loan requirements?

A VA loan is a no-brainer for qualified homebuyers and refinancers. The intended candidate is a service member or surviving spouse with a clean financial record. Ask yourself these four questions to determine if you meet the minimum VA home loan requirements:

• Are you a current or ex-military personnel?

• Are you the surviving spouse of a current or ex-military personnel?

• Have you defaulted on a home loan within the last 12 months?

• Have you declared bankruptcy within the last two years?

If you answered "YES" to either of the first two questions and a resounding "NO" to questions three and four, you most likely meet the basic VA home loan requirements.

Other VA home loan requirements have to do with military service time. Specifically, you must have serve for 90 or more days in wartime or 181 or more days in peacetime. In both cases, the stipulation is waived if you are discharged due to a service-related disability. Reserves and National Guard soldiers must serve for at least 6 years to be eligible.

Spouses of deceased service members are eligible for VA loan benefits, provided they have not remarried and that the deceased either:

• Died in service or from a service-related disability.

• Was missing in action or a prisoner of war for at least 90 days.

• Was rated totally disabled and was eligible for disability compensation at the time of death.

Children of deceased veterans are not eligible for VA loan benefits.

The VA loan home advantage

VA loans are fully backed by the government and offer a myriad of advantages for your home purchase or mortgage refinance. Here are the six biggest:

No money down

While conventional loans generally require down payments that can reach up to 20%, no such thing is required with a VA home loan at or under the local conforming limit. Down payments are still an option, of course, but they are not a requirement. The VA allows you to purchase jumbo loans, but requires you to supply 25% of the difference between the loan amount and the loan limit.

No PMI

Private Mortgage Insurance (PMI) is a requirement when you put less than 20% down on the purchase of a home and typically adds 0.2-0.9% of expenses to your monthly mortgage. With a VA loan, you can wave goodbye to PMI!

Competitive interest rates

Since VA loans are guaranteed by the federal government this can provide lenders with a greater sense of safety and flexibility. This can ultimately lead to a more competitive interest rate than you may otherwise receive.

Easier to Qualify

Similarly to the interest rates, the VA loan being backed by the government also lets the banks assume far less of the risk. This can lead to less stringent qualification standards, once the aforementioned qualifications are met.

Fewer credit restrictions

Reduced restrictions mean easier qualification. With a VA loan, you’re allowed a higher debt-to-income ratio and afforded more leniency with your credit score.

Seller assistance

The VA allows sellers to assist with up to 4% of closing costs.

Easy refinance

Borrowers can refinance their homes with a VA streamline or cash-out loan. The streamlined version lowers the mortgage rate of an already existing VA loan, usually for less than the current principal and interest. This means it doesn't require a credit check or appraisal. The cash-out option involves a credit check and appraisal, since the home’s value represents the maximum loan amount and the new loan will be larger than the existing loan.

What Is An FHA Loan?

FHA home loans are mortgages insured by the federal government through the Federal Housing Administration (FHA), a branch of the Department of Housing and Urban Development. FHA home loans reduce the barrier to entry for homebuyers and refinancers by featuring low down payments, flexible credit requirements and more purchase power. If funds are limited, an FHA home loan can help you finance more than 80% of your home value.

What are FHA loan requirements?

In order to ensure that you meet the minimum FHA loan requirements, you need to consider the following factors.

• Are you over the age of 18?

• Do you have a valid Social Security number and lawful residency in the United States?

• Do you have a steady employment history? If not, have you at least worked for the same employer for the past two years?

• Can you afford the minimum down payment of 3.5% or 10% (depending on credit score)?

• Do you have a credit score above 620?

• Have you been out of bankruptcy for at least the past two years?

• Will this home be your primary residence?

You’ll likely need to be able to answer all of these questions with a hearty ‘YES’ in order to meet FHA home loan requirements.

The FHA home loan advantage

FHA home loans are backed by the federal government and offer you a myriad of advantages for your home purchase or mortgage refinance.

Minimum down payment option of 3.5% for qualified buyers

For those with credit scores of 620 and above, the down payment for an FHA loan is 3.5%. (For those with credit scores below 620, a 10% down payment is required.)

Easier to qualify

FHA requirements are, typically, less strict than typical loans. Although a credit score below 620 does not allow you to take advantage of the 3.5% down payment option, conventional lenders require a minimum credit score of 620 or higher.

No maximum income restrictions

Seller assistance with up to 6% of closing costs

FHA home loans allows the seller to pay up to 6% of the closing costs, including any costs of the appraisal, title expenses and a credit report.

203k renovation loans with a minimum 620 FICO score.

If you need extra cash to repair or renovate your home, FHA offers 203(k) loans that offer you loans based not on the current appraised value of the home, but the projected value after these renovations would take place. The extra money you receive from the loan after the purchase of the home can then go towards these renovations. This can be used to cover painting, roofing, plumbing, heating and air-conditioning and full room remodels. This is generally only eligible for those with a credit score of 620, more along the lines of a minimum credit score for a conventional loan.

Loan limits adjusted annually

FHA home loans have a maximum loan amount (or “ceiling”) that is regularly adjusted every year and vary according to the cost of living in a given area. This annual adjustment increases your likelihood of getting an FHA home loan that meets your current needs.

With an FHA loan, you can use borrowed money and other gifts from family members to cover down payments and closing costs. And don’t worry about prepayment penalties! An FHA loan lets you refinance or pay off your home early without having to deal with extra fees or other sticking points. As long as you meet FHA requirements, an FHA home loan may be within your future!

Types Of Home Loans

Which Mortgage is right for you?

There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. It only takes a few minutes to review your home loan options and get an idea of what might provide the best value for your needs

Home loan options include:

30-Year Fixed Rate Mortgage

Settle down for the long haul with a 30-year fixed rate mortgage. Because of the steady interest rate inherent to a conventional 30-year fixed rate mortgage, you can look forward to consistent monthly payments for many years to come, providing you with peace of mind and a consistent budget. We recommend this type of home loan if you're planning to stay in your home for a minimum of 5-10 years.

15-Year Fixed Rate Mortgage

Pay off your home twice as fast with a 15-year fixed rate mortgage. Your rate stays the same throughout the life of the loan, giving you secure and predictable monthly mortgage payments and less interest on your loan. Get on the fast track to amortization with this home loan option.

Adjustable Rate Mortgage

Keep your options open with an Adjustable Rate Mortgage (ARM). This type of home loan features an interest rate that changes after a fixed amount of time. ARMs are a great home-buying option and typically offer lower interest rates than fixed mortgages and extra protection with rate caps.

Jumbo Loan

Move into your forever home with a jumbo loan. Need a loan that exceeds the current conforming limit? A fixed or adjustable jumbo mortgage can help you make your move. This type of home loan will allow you to buy a lot of real estate but can also require more stringent credit guidelines and a larger down payment.

FHA Loan

Make your home ownership dreams come true with an FHA loan. Featuring flexible credit restrictions and down payment options as low as 3.5%, an FHA loan is a popular type of loan for first-time home buyers.

VA home loan

Enjoy exclusive military benefits with a VA loan. If you are a veteran or an active-duty service member, a VA loan offers less restrictive credit guidelines and low down payment options for you and your family.

Interest Only Mortgage

Free up your cash flow with an interest only mortgage. Take advantage of the low monthly payments right off the bat to afford a more expensive home and invest your income elsewhere.

Important Reminders When Buying A Home

1.Buyers should avoid changing jobs, becoming self-employed, or quitting their job on or before closing day.

2. Avoid making any big purchases such as buying a new vehicle, appliances, boats, etc.

3.Buying furniture and new items for your home is exciting, but remember not to use credit cards or let any accounts fall behind.

4.Avoid switching banks and do not make large deposits in your bank accounts without first checking with your mortgage lender / loan officer.

5.Do not cosign on a loan or credit card for anyone before closing

Shop For The Best Interest Rate

A MORTGAGE BROKER YOU CAN TRUST

Zero Point Mortgage Services is committed to helping you find the right mortgage product for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.

Looking to shop for the best interest rates when buying a home, refinancing, or a home equity line of credit?

Call 303-910-2552

Zero Point Mortgage Services NMLS #1216108

5200 DTC Parkway Suite 300 Greenwood Village, CO 80111