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By Angela Lanfranco
Denver Reverse Mortgages
Denver Reverse Mortgages can assist homeowners with converting a portion of their equity into useable cash. The Federal Housing Administration has created something called The Home Equity Conversion Mortgage (HECM). There are some stipulations and qualifications, but this program could be the answer to so many struggling Americans financial problems. The greatest part of this Golden Lenders sponsored program is that you wont have to pay back a penny of the loan unless you move and call another home your primary residence. Of course there are 2nd mortgages and refinancing options where you can draw out cash on your equity, but with a Denver Reverse Mortgage, you pay nothing as long as you reside in the home. And the qualifications are a lot simpler than refinancing or pulling out a 2nd mortgage.
Denver Reverse Mortgages for Retirement
More and more retired Americans especially in Denver are using reverse mortgages to supplement their social security income. It could be that your house is a little older and in need of repairs, a reverse mortgage option could help you financially support this. Golden Lenders in Denver, has been offering quick approvals that could literally get you cash in days through reverse mortgages. This option is very attractive to seniors because they are normally living on a fixed income.
Rules of the Denver Reverse Mortgage
To be eligible for a FHA HECM: the Federal Housing Authority requires that you be:
Homeowner
62 years of age or older
Own your home outright, or have a low mortgage balance that can be paid off at closing with the reverse loan
You must live in the home
How you will receive your payments?
• Tenure – equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.
• Term – equal monthly payments for a fixed period of months selected.
• Line of Credit – unscheduled payments or installments, at times and in amounts of your choosing until the line of credit is exhausted.
• Modified Tenure – combination of line of credit with monthly payments for as long as you remain in the home.
• Modified Term – combination of line of credit plus monthly payments for a fixed period of months selected by the borrower
Goldenlenders is happy to sit down with you and discuss your options regarding a Reverse Mortgage in Denver. Give us a call today or send us an email to get started today!
303-482-2361 or Contact Us through our Online Form by clicking HERE
By Angela Lanfranco
Great refinancing rates in Denver and other Colorado areas is slowly starting to dry up according to a nationwide report last week. Some rates by lenders across the U.S. went up almost one percent. This could be because of the Feds recent comments on the economic stabilization looking a little brighter. With the growing number of folks refinancing, this has to play a role in a boost in the U.S. economy. Most analysts agree this small rise in rates won’t necessarily hurt the economy. While some home owners who were pondering on recent offerings of 4 % rates, are now wishing they had acted faster.
The average rate for a 30-year fixed mortgage is back at 4.91 percent this week, up from 4.82 percent last week, Freddie Mac said Thursday. Here at Golden Lenders, we are constantly watching these trends because we have had so many homeowners inquire about refinancing. ” I would say now is the time, it can’t get much better than now” said Golden Lenders Owners D.J. Robbins. D.J. and his team have been processing multiple refinancing packets per day. D.J. when on to say “These homeowners are getting the best possible rates we can offer.”
Most of the fuel behind the recent spike was because of new loan applications rising for the last 5 weeks according to the Mortgage Bankers Association. On top of that, sales of new homes are appearing to bounce back. Here in Colorado, home sales are actually positive from April through May.
We can still lock you in a great refinancing rate, just come in and sit down and talk with us. We will sit and consult with you and figure out the best possible options that suit your needs. Whether your looking to cash in some equity, get a lower rate, or lower your monthly payments, there is something right now that fits your situation. Denver Colorado home refinancing options have still never been better. Don’t wait to long before the time is up. Contact Golden Lenders today!
By Angela Lanfranco
The State of Colorado Home Sales in Early 2009
Are you in the process of obtaining Colorado home financing? If so, you may be walking in better shoes than those trying to get financed elsewhere in the country. According to information released on the last day of March, the average home price fell at an alarming, record pace throughout January. On the surface, this scares off potential home buyers from getting a home loan in Colorado. However, Denver was much better off than other metro areas.
The Standard & Poor’s/Case-Shiller home-price index, which started in 2000, showed the largest drop ever in 20 major cities. Colorado home financing was faring well along with the home prices in the Denver area. Denver seen a mere 5.1 percent decrease, while the average home price across the others decreased 19 percent. Colorado online mortgage lenders will be able to clearly help you understand what is going on with area real estate before you make any decision.
There’s a lot of activity going on with short sales, so much of the Colorado home financing has been helping home buyers get their hands on homes for less than what is owed on them. Jon Terry, a real estate broker from Realty Professional of America, says that’s one of the reasons we seen the small decline that we did.
Real estate broker Jon Terry of Realty Professionals of America Inc. points to a large number of short sales, in which homes are sold for less than the outstanding balance on the mortgage, and foreclosures as driving the decline. Many current home buyers are getting a home loan in Colorado for short sales, while regular home listings are taking longer to sell.
Another reason Colorado homes and Colorado home financing aren’t suffering as badly as in other areas is that there wasn’t an enormous appreciation of home values here. Those who were able to get Colorado home financing and buy a home here didn’t see the quick-rising appreciation as other areas did, such as Las Vegas. So, there wasn’t as much equity to be lost when the troubling times began. So if you’ve been considering a home loan in Colorado for that perfect, new home, hopefully this sheds some positive light on the situation. You can begin to see that this area has a more stable real estate market than in many other places.
If you’re still hesitant about entering into a Colorado home financing contract, look a little deeper than what the news tells you. For instance, it may not be as bad as the Case Shiller index indicates. The Federal Housing Financing Agency is actually more reliable. That’s because they consider appraisals for refinancing, and not solely home sales. The FHFA index only includes homes that are valued $450,000 and less. However, they cover a much larger area. Their numbers indicate nationwide housing sales only dropped 6.3 percent from the last year (with mountain states at 9.2 percent).The FHFA first quarter numbers for 2009 are not available yet, though. They release data quarterly for state-specific areas.
Whether you need Colorado home financing because you want to buy a new home off the regular market or try to get a deal through a short-sale, using Colorado online mortgage lender like Golden Lenders could speed up the process
By Angela Lanfranco
Denver Home Buying Seminar 2 May 09
GoldenLenders is hosting Denver home buying seminars that will be held on a monthly basis. Since the recession began, a lot of things have changed in lending and buying a home in general. These Denver home buying seminars are jam packed with useful information. Regardless if you are closing a home tommorow, or already own a home, these seminars can and will help you with your next home purchase. There will be plenty of professionals there to answer any questions you may have.
Some will go into the home buying process solely relying on their Realtors for expertise. We do believe Realtors play an important role in the home buying process, but your loan will be with you for 15-30 years… Why not learn about it? The choices you make now will reflect how much you spend or save on your next home purchase. The best thing about this Denver home buying seminar is – Its Free! Definetely a good time to bring the family, spouse, girlfriend or boyfriend, son or daughter, or come solo. This is some very in depth 2009 loan information that you won’t wanna miss. We will cover a range of topics from rates, points, and 2009 incentives from the U.S. Government such as Tax breaks and HUD.
You can register 1 of 2 ways for the seminar. You can shoot us an email or give us a call. This is a no pressure seminar and our goal is solely to educate consumers. Contact Mr. D.J. Robbins for further information or reserve your slot for this Denver home buying seminar today.
303-482-2361
“OPENING MORE DOORS TO HOME OWNERSHIP”
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Colorado Mortgage Rate News,
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Denver CO Home Loans,
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Hud Homes in Colorado,
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By Angela Lanfranco
Denver Co Mortgages for First Time Home Buyers
It’s no wonder Denver Co mortgages are in high demand, since first time home buyers are flooding into Denver. In fact, Denver was recently rated the #1 most desirable city in the country to live in. So how are these relocating people fairing when it comes to getting a home loan in Colorado? They’re finding deals that are almost too good to be true actually. Colorado online mortgage brokers and websites are surely treasured sources, and those who use them are making off like a bandit.
If you’re a first time home buyer looking for a Denver Co mortgages right now, you have a lot of perks on your side. First of all, interest rates for Colorado home financing are lower than it’s been since the early 70’s. That says a lot in itself. Getting a home loan in Colorado is as good as it gets in terms of investing for the future. The price of your dream home could very well be hundreds of thousands dollars less than recent years… and interest rates for Denver Co mortgages are lower too. How much better could it get?
Denver Co Mortgages and the economy
Colorado mortgage brokers have escaped much of the turmoil brokers in other parts of the country have faced, and for good reason. Denver’s economy has been doing well if compared to the national average. Luckily, Denver’s economy is versatile, not relying on one or two main industries and sources. It’s like this area was specifically designed to provide the perfect nesting area for first time home buyers. Getting a home loan in Colorado at your own convenience can be achieved by using a Colorado online mortgage center.
You’re likely weary of actually taking the plunge in buying your first home right now, and you aren’t alone. Take a breath, clear your mind of everything you hear on the TV, and actually look at Denver Co mortgages. If you’re thinking of moving to Denver, you’ll see that buying your first home here is a smart move. If all of the above doesn’t motivate you to look through our Colorado online mortgage center… there’s still more good news we haven’t got to yet.
Denver Co Mortgage first time fears?
If you buy your home soon, within this year, you can also get a first time home buyer tax credit. You have to secure your home financing and close the home within this year. And no, this isn’t like the tax breaks we witnessed last year where it had to be repaid. When you get your home loan in Colorado for a home you’re going to live in for at least three years, you can get up to $8,000 back or in the form of a tax credit when you do next year’s taxes.
A stable economy (compared to elsewhere), low home prices, low interest rates on your Colorado home financing, living in the most desirable city in the nation, Colorado mortgage brokers offering easy access to information with Colorado online mortgage centers, and getting up to $8,000 to do so. Contact us for more information on Denver Co mortgage specials.
