FHA Home Loan
FHA Colorado loans have become a very popular route for the first time
homebuyer looking for Colorado real estate options. However,
mortgage lenders do not reserve these Colorado loans only for first
time home buyers. You can buy your third or fourth home with FHA Colorado
loans. The only stipulation is that you may only have one FHA home mortgage
loan at a time. These Colorado Loans are great for any
type of homebuyer currently looking to get into a great interest rate
by putting very little money down. Its low minimum investments
make FHA the fastest growing Colorado Loans option in the market.
The Federal Housing Administration (FHA), a wholly owned government corporation, was established under the National Housing Act of 1934 to improve housing standards and conditions throughout the United States; its purpose was to establish Colorado loans that would qualify more people to become home owners. The Federal Housing Administration made it easy to offer Colorado Loans to first time home buyer at interest rates so competitive that mortgage lenders were required to maintain licensing agreements with the Federal Housing Administration. The primary goal for FHA was to provide Colorado mortgage companies an adequate home mortgage financing system backed by federally insured funds. Lenders were quick to offer Colorado Loans with the FHA option because of the low default risk to the lender. The reduction of risk allows us to offer low interest rates on all our FHA Colorado Loans. So when you are being presented with Colorado Loans to choose from, FHA should be an option given to you. The Federal Housing Administrations currently utilizes a hassle free look at credit criteria. These credit qualifying processes is clear cut and apply to most consumers looking for the right Colorado Loans to choose from. Call us directly and ask us how you can qualify for FHA Colorado loans. We have been a Colorado Springs mortgage company offering these Colorado loans for years and will enjoy packaging FHA Colorado loans as part of our presentation to you.
Colorado Loans: refinancing FHA
Refinancing FHA Colorado loans requires only that you have
been current on your existing mortgage for at least one year. If you
meet these criteria, then you are eligible for Colorado Loans under
the FHA option. Streamline FHA loan options will not require job verification,
income verification, appraisals, or credit score approval. Simply
put, if you have been making all of your current payments on time
to your mortgage lenders, you will be eligible for FHA Colorado loans. These
Colorado Loans also offer cash out options on the FHA home mortgage choices.
As a Colorado mortgage provider we will offer you the same options being offered
anywhere FHA Colorado loans are available.
These are the Federal Housing Authority requirements for all Colorado mortgage companies as it relates to refinancing FHA loans.
Colorado
Loans to be refinanced must already be either a FHA Home mortgage,
or a Conventional mortgage with a minimum of 5% equity.
These
Colorado Loans must be current, and not had any delinquency
over the last 12 months, to qualify for the FHA Colorado loans
option.
All
Colorado Loans which results in lowering the borrower's monthly
principal and interest payments will meet the Colorado Net
Tangible benefit requirements for the state of Colorado.
Typically in the streamline home mortgage option, no cash may
be taken out at closing. This streamline simply gives you the
lowest rates while lowering your payment.
However, cash-out home mortgages are available for FHA Colorado
loans under a fully-qualified method. All of our Colorado mortgage
interest rates still apply, but it does give you the luxury
to pay off your debt and consolidate your bills so that you
can begin enjoying the savings today.
Thank you for giving us a chance to service your needs and
we look forward to getting to know you. Our most important
assets are our Clients.
Daniel Shepard and Jerry Case
Video: What We Do
1st Metropolitan Mortgage
(719) 314-1320
Located by the Citidel Mall
in the FedEx/Kinko's building
on the second floor.
NoStressHomeLoans.com
