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
Colorado Home Loans Going Strong Compared to Nation
You would probably assume that Colorado home loans were down in 2008 from 2007, with all the talk about what a bad shape the real estate industry is in. However, Colorado home loans and Colorado home financing in general actually saw an upswing in 2008. Much of the public’s misunderstanding of what is happening in real estate and how Colorado home loans are being affected is due to one thing; the media.
The media is often quick to jump to conclusions. Sometimes they don’t have any real knowledge of Colorado home financing stats, Colorado mortgage rates or anything within the world of real estate. They falsely assume all Colorado home loan lending sources are the same and thus, refer to them all as banks. If you’re in the market for a new home and need to find good Colorado home financing, then please take heed to this. Colorado Bankers Association President, Don Childears, says, banks in Colorado are lending better than ever in the past and that they have the means to confidently do it. That’s great news for anyone seeking Colorado home financing.
So where does the bad media hype come from? At one time, banks were the majority of lenders for Colorado home loans, but then finance companies came into the picture and took up a large part of the Colorado home financing business. Actual banks were lending very little of the overall Colorado home loans that were being processed. Then these finance companies dramatically cut back the amount of Colorado home loans they were approving, leaving banks to try fill that void. Commercial banks are actually lending more for Colorado home financing transactions, but it’s hard to see because it’s difficult for them to make up for the vast lending the finance companies were doing.
Of course, it’s important to note that we’re talking about Colorado home loans and commercial banks in Colorado… not overall for the nation. Most Colorado home financing through banks still have the same standards a borrower must meet, while others have scrutinizing standards. As a result, good credit, income, and assets are simply a requirement. Working with a smaller to medium size lender is a better way to go. If your credit is decent, and you have an income, chances are we can help.
This doesn’t mean you have to have a flawless record to get a Colorado home loan. If your credit isn’t perfect, try talking to one of our consultants to see just what kind of Colorado home loan you qualify for. Residential Colorado home loans may not be as easy to come by as they once were, but it’s definitely worth the effort considering the low prices you can get for a new home for right now. Not to mention the currently low Colorado mortgage rates on Colorado home loans. Golden Lenders is here to help.
By Angela Lanfranco
Help for Colorado Home Financing
Are you thinking about buying a home in Colorado? Are you among the many seeking home loans in Colorado Springs? If so, you aren’t alone. Colorado has been able to maintain a somewhat stable real estate market compared to the rest of the country, and Colorado home financing are stretching to help you make your dream a reality. Whether you need someone specializing in Aurora Co mortgages or home loans in Colorado Springs, you’re sure to find a heck of a deal for your Colorado home financing. There are many things taking place that are going to help.
Tax Credit Anyone? Colorado Home Buyers
If you have Colorado home financing, say thank you to the $787 billion dollar stimulus bill that attempts to give first-time home buyers an enormous break. Home loans in Colorado are sure to see an increase in first-time home buyers thanks to this plan. If you can secure Colorado home financing and buy before November, then you’ll be able to receive a tax break of either a.)10% of the home tax credit or b.) $8,000 (whichever is less). This is a dollar-to-dollar tax credit, not a decrease in your tax liability. If you end up owing $10,000 at tax-time and you receive the $8,000 credit, then you’ll only owe $2,000. It’s Simple as that. If you don’t owe anything or owe less than your credit, you’ll be paid the difference. Talk about an encouragement to get out there and get your Colorado home financing now!
When you’re searching for home loans in Colorado Springs or are considering Aurora Co mortgages, keep in mind this tax credit is available for homes to be used as a primary residence only. Singles who earn more than $75,000/year or couples earning over $150,000/year won’t receive the same benefits. Also, while you can find great Colorado home financing right now, plan on keeping your home at least three years unless you want to repay your tax credit.
Homeowner Affordability and Stability Plan
Although not official until March 4th, here is some information about what is floating around the homeowner affordability and stability plan that you may find helpful if looking at home loans for Colorado Springs & area. President Obama wants to allow responsible homeowners to refinance into a 15-year or 30-year, fixed-rate loan according to current market rates. Even though it can’t include balloon payments or prepayment penalties, this could allow those with home loans in Colorado Springs, and other Colorado home financing arrangements, to reduce their mortgages significantly.
These are only some of the points to consider making Colorado home financing that much more appealing, including home loans in ripe areas like Colorado Springs.
By Angela Lanfranco
Amazing Deals on Home Loans in Colorado Springs
It could be a great time to secure a home loan in Colorado Springs. The economy has people all across the nation wandering what’s next. Some are planning to relocate to a new hometown in hopes of finding better living conditions. So how do you know where to go?
With amazing offers from Colorado online mortgages and hints of good news for Colorado home financing, Colorado Springs may be the answer. Interest rates on home loans in Colorado Springs are at an all-time low. This provides you with an excellent opportunity get some amazing deals on Colorado home financing.
Colorado Springs VA Home Loans
Take the return of military personnel for example wishing to use their Colorado VA Home Loan. There’s sure to be a surge in people searching Colorado online mortgage websites as the military and their families return home. Colorado home financing companies are going to have their hands full as soldiers come home to Fort Carson, so using a Colorado online mortgage website like Golden Lenders may be the best thing if you’re planning to move here anytime soon. The return of Fort Carson soldiers should equal good news for the economy in Colorado Springs. In fact, Fort Carson is responsible for a third of the economy in Colorado Springs. Combine that with the other local military personnel and you come up with over 4 billion dollars of revenue (in 2007).
35,000 active duty military personnel are found in Colorado Springs. By 2011, the growth of Fort Carson will mean a rise in that number to almost 44,000. It is likely that the economy will rise with those numbers, which means home loans in Colorado Springs may see an increase in interest rates.
Colorado Springs Home Loans and the Economy
There are also jobs openings that will be created with new businesses opening in Colorado Springs. A Costco opening in August of 2009, and an amazing 650,000 square-foot University Village on North Avenue are among some of the opportunities coming to the area. Commercial real estate is still alive, and home loans in Colorado Springs are ripe for the picking.
As you can see, there are many bright lights at the end of the Colorado Springs tunnel. If you’ve ever dreamed of living in this picturesque community, now’s the time to start scouring Colorado online mortgage websites. You can compare home loans in Colorado Springs easily to find the best deal for your situation. There is an array of dream-like-homes that you can find at a fraction of what you’d normally pay. Be sure to check out Golden Lenders Colorado VA Loan Information Page and information on home loans in Colorado Springs .
Contact a Golden Lenders Online Mortgage Specialist today!
