Guideline Updates

Colorado Mortgage Group can now offer $679,650 Conventional High-Balance loan program
680 minimum FICO 43% debt-to-income 80% loan-to-value Primary and second homes Average turnaround time of 15 days or less from submission to closing Some areas of Colorado have an average purchase price well above the Conforming loan limits and High-Balance ...
2018 VA Loan Limits in Colorado
VA does not set a cap on how much you can borrow to finance your home. However, there are limits on the amount of liability VA can assume, which usually affects the amount of money an institution will lend you. ...
CHFA Down Payment Assistant Programs
What is CHFA? CHFA’s mission is to strengthen affordable housing and economic development across the state. They offer many financial resources to strengthen homeownership, affordable rental housing, and businesses. They also offer education classes and technical assistance to help borrowers succeed. CHFA has invested ...
Down Payment Assistance Grant-CHFA
CHFA Grant Program The number one hurtle first time home buyers constantly struggle with is the traditional down payment needed to start your investment.  If having a down payment has been a source of frustration in the past, you are ...
New FHA County Loan Limits for 2016
Loan Limits in the State of Colorado What is a Loan limit? Loan limits have a definition very closely related to their name. A loan limit is the maximum allowable loan size for a mortgage. Loans for amounts above loan limits cannot ...
Freddie Mac Home Possible Advantage Mortgages
Program Overview: Are you currently looking for a new house, or have you been frustrated with the process in the past? Freddie Mac Home Possible advantage mortgages offer outstanding flexibility and options to help meet your needs. With Home Possible, you’ll ...
FHA Condominium Project Approval
FHA Guideline Update: Thought about purchasing a condominium in the past? FHA has just announced that is will be changing its rules to make it easier for buyers to get federally insured financing.  This is good news because traditionally condos ...
New Mortgage Guidelines Starting October 3, 2015
New Mortgage Rules Aim To Simplify Information But May Slow Down The Process As of October 3rd, the TILA-RESPA Integrated Disclosure Rule (TRID) will require lenders to provide potential borrowers with more detailed rate and fee information. This process will ...
How To Avoid Common Mortgage Approval Mistakes
1. Avoiding or Leaving Out Information on Your Financial Profile Colorado Mortgage Group will begin by reviewing your personal information.  This information will include employment, income, residence history, debts, and assets. The important take away is to answer every question and ...
FHA Reverse Mortgage (HECM)
What Is A Reverse Mortgage? A reverse mortgage is a special type of home loan that lets you convert a portion of the equity or wealth in your home into cash. The wealth that you acquired over the years of making mortgage ...