Guideline Updates

How to Improve Your Credit Score
Increasing Your Credit Score A credit score reflects credit payment patterns over time, with more emphasis on recent information. You can check your credit report to read a summary of what goes into your credit score. Take the following steps ...
FHA Loan Limits 2015
2015 FHA County Loan Limits for Colorado One-Family is a single family home or condominium Two-Family is two separate living units (duplex) Three-Family three separate living units (triplex) Four-Family  four separate living units (fourplex) Colorado Counties One-Family Two-Family Three-Family Four-Family ...
Debt to Income Ratios for VA Loans
VA Debt-To-Income Guidelines According to VA guidelines, borrowers and or their spouse must qualify according to set debt ratios which are used to determine whether the borrower can reasonably be expected to meet the expenses involved with home ownership. Usually, ...
Colorado VA Loan Limits
VA Loan limits in Colorado for 2015: County Name Single Family Home ($0 down and up to) Max Guaranty ADAMS $424,350.00 $1,000,000 ALAMOSA $417,000.00 $1,000,000 ARAPAHOE $424,350.00 $1,000,000 ARCHULETA $417,000.00 $1,000,000 BACA $417,000.00 $1,000,000 BENT $417,000.00 $1,000,000 BOULDER $456,550.00 $1,000,000 ...
Qualifying for a Mortgage With Student Loans
How Will My Colorado Student Loans Affect Getting an FHA, VA or Conventional Mortgage? For FHA Loans: As of September 14th, 2015 all assigned loans will have to count deferred loan installments against the borrower. Here are the full guidelines ...
What To Know About Financing Flipped Properties
Buying a Flipped Property - What to Know If the home you are buying is being flipped within 90 to 180 days since it was purchased and  has experienced an increase in value there are some things you need to know. Photo ...
Is it a Condominium?
How do I know if it’s a Condo? Because of the changes to the condominium approval/review processes it is absolutely imperative that you understand what type of property you are dealing with BEFORE you move forward with listing, selling, or ...
Maximum Seller Contribution Chart
FNMA FHLMC FHA VA USDA 90.01% or greater 75.01% to 90.00% 75.00% or less (Must Be Owner Occupied / Based on  LTV/CLTV) 3% 6% 9% 6% Maximum all loans 4% Closing cost & points Plus up to 4% sales concession ...
Dropping Mortgage Insurance
Dropping Conventional Mortgage Insurance Rules  Automatic Termination ( PMI is Automatically Terminated without you asking) PMI is automatically removed when your Loan to Value (LTV) gets to 78% Important Notes for Automatic Termination: Loan to Value is  based upon Original ...
What are the Waiting Periods for Bankruptcy or Short Sale before getting a new Mortgage?
Extenuating circumstances could cut the waiting period to two years for Chapter 7 and Short Sale It can be pretty daunting to keep up with the waiting periods that different loan programs require before you can qualify for a new ...