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Home Buyers – Upcoming Changes in Closing Process
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Home Buyers – Upcoming Changes in Closing Process

In Denver Real Estate, Market News, Mortgage Rates | on May, 13, 2015 | by

To improve the service for consumers buying homes, here is some insightful news regarding changes to the closing settlement forms. Sounds like the scheduling of closings, which is typically 30 days out from the accepted offer date, may have to be pushed to 45 days out. From Realtor Magazine: “In case you missed it, as of August 1, the HUD-1 settlement statement and Good Faith Estimate forms are going away, as is the Truth in Lending Act disclosure.” This short video explains what you need to know about the changes to the closing process:

Home Buyers – Upcoming Changes in Closing Process

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Fed to Cut Monthly Bond Purchases to $25B

In Market News, Mortgage Rates | on July, 31, 2014 | by

Whether you are buying or selling a home in the near future, the move by the Federal Government to cut monthly bond purchases will have a dramatic impact on mortgage interest rates…most likely causing them to rise. For Sellers thinking that the average Denver-metro home prices will continue to go up, that theory will be countered with less buyer affordability due to higher interest rates. What does this mean???…if you were holding out to sell for the highest price, you may want to reconsider if you can move now. With higher interest rates, they’ll be less buyers in your price range. For the last few years we’ve adored the low interest rates around 4.25%-4.5%…but things will be quite different when rates are at 5 or 6%.  The Fed’s action to cut monthly bond purchasing will be a major test to see if our economy is as stable as it’s made ... Read More

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Getting a Mortgage if You’re Self Employed – A Few Tips

In Denver Real Estate, Mortgage Rates | on April, 05, 2014 | by

Self Employed - I'm the Boss!With the reduction in the number of employment opportunities that followed the financial meltdown that we are all so very familiar with, thousands of people throughout Colorado State decided to take matters into their own hands and carved out employment opportunities of their own by becoming self-employed. While taking this employment route has proved to be beneficial for many people, it can make it harder to either refinance an existing mortgage or obtain a new one, since the lack of a regular, fixed income makes this group a riskier investment for financial lenders. However, if you are self-employed and looking to work with a real estate agent in Denver on a home purchase, that doesn’t mean to say you won’t be able to get a mortgage; it just means you’ll most probably have to make more of an effort.

I’m Self Employed: How Can I Get Approved for a Mortgage

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The Pros and Cons of Using a Mortgage Broker

In Denver Real Estate, Mortgage Rates | on March, 24, 2014 | by

mortgage broker pros and consIt’s a fairly common occurrence for prospective homeowners to use the services of a mortgage broker when they are interested in purchasing real estate, since a specialist, in theory, should be able to find them the “best deal” with regards to the terms of the loan and the rates attached to it. However, in recent years the ways in which licensed mortgage brokers have been operating has been put under intense security and there have been numerous allegations of malpractice. In other words it has been claimed that some mortgage brokers have been making suggestions based on their own interests rather than those of their clients. If you have been looking at homes for sale in Denver and have found the property of your dreams but need a mortgage loan to finance that dream, you need to carefully weigh up the pros and the cons of using a mortgage broker.... Read More

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Getting a Mortgage with a Bad Credit Score

In Mortgage Rates | on March, 04, 2014 | by

Borrowing money from banks and other types of financial institutions has become considerably harder since the financial crash, with qualifying requirements tougher than they have ever been before. Gone are the days when you could get a 100% mortgage wherever you went; these are like dinosaurs now, they don’t exist, they’re extinct. Nowadays even if you’re in a position to put down a large deposit and you have a secure job that pays a respectable salary, you still might be turned down. You can’t exactly blame banks and building societies for being extremely cautious though, as no-one wants a repeat of what happened in 2008! Nevertheless, if you do have a bad credit rating you might be feeling that purchasing property is now nothing but a pipedream, unless you happen to win the lottery that is. But fear not, it is still possible to get a mortgage and buy real ... Read More

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How to Get the Best Mortgage Rates Around

In Denver Real Estate, Mortgage Rates | on February, 28, 2014 | by

denver mortgage ratesAre you in the process of looking at the current homes for sale in Denver? If that’s the case, you will most likely need to apply for a mortgage loan if you do find a property that you fall in love with. At this point you’ll probably get told to “shop around” and “explore your options” and while it’s definitely a good thing that there are so many different mortgage loans available, a fact which keeps rates as competitive as possible, it can be difficult to know where to start if you’ve never been through the process before. If you talk to a real estate agent in Denver, they will tell you that the first step is to obtain information about your credit score (most people don’t know what their credit score is before applying for a mortgage), which can be obtained from most financial institutions. It’s also wise ... Read More

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