Colorado Mortgage Programs

Homeowners in a Colorado have a lot of choices when trying to determining the best mortgage program.   Read through the brief descriptions below on the different mortgage programs available in Colorado and through Cherry Creek Mortgage Company.  Click on the mortgage program for more details.

FHA Mortgage Loan

FHA mortgages loans provide 1st time home buyer and existing home owners in Colorado with inexpense and low down payment options to purchase a new home and refinance their existing home.  FHA mortgage guidelines are more flexible than most mortgage loan programs and great for clients that don't have perfect credit. Cherry Creek Mortgage Company offers a wide variety of FHA mortgage programs, including the FHA 203(k) steamline program that allows to receive money when purchasing a home in Colorado for repairs or updats.

Conventional Mortgage Loan

Conventional mortgages typically require higher qualification levels and is more credit dependant then other mortgage programs.  However, conventional mortgage loan programs also usually provide the best payment options.  Cherry Creek Mortgage Company offers fixed, adjustable rate convetional loans and Fannie Mae HomePath mortgage.

VA Mortgage Loan

VA mortgage loans in Colorado offer purchase mortgages that don't require any down payment and refinance mortgage programs up to 90% LTV with out mortgage insurance. Must meet VA eligibility requirements.  Cherry Creek Mortgage Company offers VA loans for purchasing or refinancing a home in Colorado.

USDA Mortgage Loan

USDA Mortgage loan program does not require a down payment and does not charge mortgage insurance.  However, it does have income and property restrictions to qualify for a USDA mortgage.  Cherry Creek Mortgage Company does offer the USDA mortgage program in Colorado. 

Jumbo Mortgage Loan

Jumbo mortgage loans are mortgage loans that exceed $417,000 in most counties in Colorado.  Jumbo loans typcially are adjustable rate mortgage programs, however, there are fixed rate products available.  Cherry Creek Mortgage Company does offer multiple jumbo and super jumbo mortgage in Colorado. 

Fixed Rate Mortgage Loan

A fixed rate mortgage allows the client the security to know their mortgage payment will not increase during the duration of their loan.  FHA, Conventional, VA, USDA, and Jumbo mortgages all have fixed rate loan programs. 

Adjustable Rate Mortgage Loan

Adjustable rate mortgages (ARM) loans offer the client the ability to obtain a loan at a lower interest rate by giving up the secuirty of a fixed rate.  An ARM can be a great option for many people, especially clients looking for a short term loan, less than 5 years.

Down Payment Assistance Mortgage Loans/Grants

There are variety of down paymeny assistance mortgage loans/grants available to home buyers in Colorado to help make the required down payment required by the first mortgage programs.   Cherry Creek Mortgage Company does offer down payment assistance programs in Colorado. 

Colorado Down Payment Assistance Mortgage

Depending on where you plan to purchase your home there are different down payment programs.  All down payment programs in Colorado require a Colorado Housing and Finance Authority (CHFA) approved home buyer education class to be eilgible for the down payment assistance.   CHFA approved course schedule.

CHFA HomeOpener Plus, Colorado:  Provides the home buyer a 2nd mortgage to be used for down payment and closing costs. The home buyer is REQUIRED to obtain 1st mortgage through CHFA.

• Max Loan Amount: 3% of the 1st mortgage loan amount.

• The home buyer does NOT have to be 1st time home owner.

• Income Limits: Yes, see chart below

• Locations: All of Colorado

• Minimum Financial Contribution: $1,000

• Interest Rate/Term: 2nd mortgage rate/term is equal to 1st mortgage rate/term

• Interest Rate on 1st mortgage can be up to 1% higher than market rate



CHAC, Colorado: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: $5,000 or $10,000 based on property location

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: All of Colorado, EXCEPT Arvada, Westminster, Aurora, Adams County, Boulder County, and Douglas County

• Minimum Financial Contribution: $1,000

• Interest Rate/Term: Either 5 year payments deferred with a 6% rate OR payments starting right away at 2%



Boulder County, Colorado Down Payment Assistance: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: 8.5% of purchase price, max of $15,000

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: Boulder County

• Minimum Financial Contribution: $2,000

• Interest Rate/Term: 3% interest loan amortized over 10 years



Adams County, Colorado Down Payment Assistance: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: $7,000

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: Adams County or Westminster

• Minimum Financial Contribution: 1% of purchase price

• Interest Rate/Term: Forgivable over 10 years

• MUST take Adams County Specific class before signing contract





Loveland, Colorado and Larimer County, Colorado: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: $10,000

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: Larimer County

• Minimum Financial Contribution: $1,000

• Class Required

• Interest Rate/Term: 2% over 10 years



Aurora, Colorado: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: $10,000

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: Aurora

• Minimum Financial Contribution: 1% of purchase price

• Counseling and Class required

• Interest Rate/Term: 3% over 5 years

For more information or question on down payment assistance options in Colorado, please call.

Colorado Mortgage Programs

Colorado Adjustable Rate Mortgage (ARM)

An ARM is a mortgage with an interest rate that may vary over the term of the loan -- usually in response to changes in the prime rate or Treasury Bill rate. The purpose of the interest rate adjustment is primarily to bring the interest rate on the mortgage in line with market rates.

Mortgage holders are protected by a ceiling, or maximum interest rate, which can be reset annually. ARMs typically begin with more attractive rates than fixed rate mortgages -- compensating the borrower for the risk of future interest rate fluctuations.

Choosing an ARM is a good idea depending on your situation, however, you want to ensure you know all the facts of the loan and talk with a professional to make sure an ARM is the right loan for you as they can be risky.

ARMs have the following distinguishing features:

• Index
• Margin
• Adjustment Frequency
• Initial Interest Rate
• Interest Rate Caps

Index

An adjustable rate mortgage's interest rate increases and decreases based on publicly published indexes. ARMS are based on different indexes including:

• United States Treasury Bills (T-bills)
• London Interbank Offering Rate Index (LIBOR)
• 12-Month Treasury Average (MTA or MAT)
• Bank Prime Loan (Prime Rate)

Margin

Margin is a fixed percentage amount that is pointed added to the index - accounting for the profit the lender makes on the loan. Margins are fixed for the term of the loan.

interest rate = index + margin

Adjustment Frequency

Adjustment frequency reflects how often the interest rate changes - also known as the reset date. Most ARMs adjust yearly, but some ARMs adjust as often as once a month or as infrequently as every five years.

Initial Interest Rate

The initial interest rate is the interest rate paid until the first reset date. The initial interest rate determines your initial monthly payment, which the lender may use to qualify you for a loan. Often the initial interest rate is less than the sum of the current index plus margin so your interest rate and monthly payment will probably go up on the first reset date.

Interest Rate Caps

Interest rate caps put limits on interest rates and monthly payments.

Common caps:

Initial Adjustment Cap

An initial adjustment cap limits how much the interest rate can change at the first adjustment period.

Example:

If your ARM has a 1% initial adjustment cap, your interest rate may only increase or decrease by a maximum of 1% at the first adjustment period.

Periodic Adjustment Cap

A periodic adjustment cap limits how much your interest rate can change from one adjustment period to the next. Usually a six-month adjustable rate mortgage will have a one percent periodic adjustment cap while a one-year adjustable rate mortgage will have a two percent periodic adjustment cap.

Example:

If your loan has a 2% periodic adjustment cap, your interest rate may only increase or decrease by a maximum of 2% per adjustment period.

Lifetime Cap

A lifetime cap sets the maximum and minimum interest rate that you may be charged for the life of the loan. Most ARMs have caps of 5% or 6% above the initial interest rate.

Example:

If your loan has a 6% lifetime cap, your interest rate may only increase or decrease by a maximum of 6% for the life of the loan.

Initial adjustment caps, periodic adjustment caps, and lifetime caps make up an adjustable rate mortgage's cap structure, and are usually represented as three numbers:

Example:

1/2/6 -- Initial adjustment cap is 1 %/ periodic cap is 2% / lifetime cap is 6%.

We provide ARM mortgage loans throughout Colorado, including but not limited to Broomfield, Westminster, Lafayette, Louisville, Boulder, Arvada, Lakewood, Golden, Wheat Ridge, Thornton, Erie, Littleton, Parker, Aurora, Castle Rock, Grand Junction, Colorado Springs, Fort Collins, Greeley, Windsor, Denver.

Colorado Mortgage Programs

Colorado Fixed Rate Mortgage

          With a fixed rate mortgage, the interest rate does not change for the term of the loan, so the monthly payment is always the same. Typically, the shorter the loan period, the more attractive the interest rate will be.

Payments on fixed-rate fully amortizing loans are calculated so that the loan is paid in full at the end of the term. In the early amortization period of the mortgage, a large percentage of the monthly payment pays the interest on the loan. As the mortgage is paid down, more of the monthly payment is applied toward the principal.

A 30 year fixed rate mortgage is the most popular type of loan when borrowers are able to lock into a low rate.

Benefits:

• Lower monthly payments than a 15 year fixed rate mortgage
• Interest rate does not go up if interest rates go up
• Payment does not go up, it stays the same for 30 years

Drawbacks:

• Higher interest rate than a 15 year fixed rate mortgage
• Interest rate stays the same even if interest rates go down

A 15 year fixed rate mortgage allows you to pay off your loan quicker and lock into an attractive lower interest rate.

Benefits:

• Lower interest rate
• Build equity faster
• If interest rates go up, yours is fixed

Drawbacks:

• Higher monthly payment stays the same if interest rates go down
• Interest rate stays the same even if interest rates go down

We are provide fixed rate mortgage loans throughout Colorado, including but not limited to Broomfield, Westminster, Lafayette, Louisville, Boulder, Arvada, Lakewood, Golden, Wheat Ridge, Thornton, Erie, Littleton, Parker, Aurora, Castle Rock, Grand Junction, Colorado Springs, Fort Collins, Greeley, Windsor, Denver

Colorado Mortgage Programs

FHA Mortgage Loan:

FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.

FHA mortgage loans are an attractive option, especially for first-time homeowners as they only require 3.5% down payment for purchase loans ($3,500 down payment for $100,000 home) and can be used with down payment assistance loans and grants.  FHA also has a $100 down program when purchasing an eligilble HUD home.  FHA mortgages will allow the home buyer to receive the down payment as a gift from a family member.

FHA mortgage guidelines typically are more lenient and flexible than conventional guidelines.  FHA loans require 620 FICO score and your debt to income should be below  50%.  FHA does not require the home buyer to have certain amount of liquid assets.

FHA mortgages require the borrower to pay 1.0% upfront mortgage insurance, which can be financed in to the loan and 1.10%-1.15% monthly mortgage insurance for 30 year mortgage. 

Tha maximum FHA mortgage in most counties in Colorado is around $400,000.

Cherry Creek Mortgage Company also offers the FHA 203(k) streamline mortgage.  The 203(k) streamline loan allows a Colorado home buyer to obtain up to $35,000 when purchasing a home for updates and repairs.  For more information on the FHA 203(k) streamline mortgage program please call Cherry Creek Mortgage Company at 303.666.6550.

Colorado Mortgage Programs

Learn more about FHA loans. (Department of Housing and Urban Development)

Conventional Mortage Loans in Colorado

Conventional loans or conforming loans are mortgage loans offered by non-government sponsored lenders. These loan types include:

• Fixed Rate Mortgage Loans
• Adjustable Rate Mortgage Loans (ARMs)
• Combination (Hybrid) Loans
• Balloon Mortgages 
• Jumbo / Construction Mortgage Loans
• Reverse Mortgage

Conventional Mortgage loans have a variety of different programs available including low money down mortgage programs that require only a 5% down payment.  However, conventional mortgages are usually only the best option if you can put at least 10% down.

Coventiomal mortgage loans require appraisals to be ordered through the HVCC process.  Which means we can not order the appraisal or discuss the value of the property with the appraiser. 

Cherry Creek Mortgage Company also offers the FannieMae HomePath program in Colorado.  The HomePath loan only requires a 3% down payment and an appraisal is not required. For more information on the Fannie Mae HomePath mortgage program, call Cherry Creek Mortgage Company at 303.666.6550.

Colorado Mortgage Programs

We provide conventional mortgage loans throughout Colorado, including but not limited to Broomfield, CO,  Westminster, CO, Lafayette, CO,  Louisville, CO,  Boulder, CO,  Arvada, CO, Lakewood, CO, Golden, CO, Wheat Ridge, CO, Thornton, CO, Erie, CO,  Littleton, CO,  Parker, CO, Aurora, CO,  Castle Rock, CO, Grand Junction, CO, Colorado Springs, CO, Fort Collins, CO, Greeley, CO, Windsor, CO, Denver, CO

Colorado USDA Mortgage Loan

USDA rural housing mortgage can lend up to 102% of the property value on a purchase transaction.  The borrower must meet the income limitations and the property has to be in located in an eligible area.
 
For more information on USDA mortgage loans, please call us.

Colorado Mortgage Programs

Colorado Jumbo Mortgage Loans

Colorado Jumbo mortgage Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. In most counties in Colorado loans would be considered Jumbo if the mortgage is greater than $417,000.  Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes.

We have a great Jumbo mortgage programs and we specialize in Jumbo loans in Boulder and throughout Colorado.  We are able to help you obtain a jumbo mortgage up to $3 million and larger jumbo loans on case-by-case basis.  Cherry Creek Mortgage Company offers jumbo mortgage programs with only a 10% equity position. 

If you have questions or would like more information on Jumbo mortgages or Jumbo loans in Colorado please email or call Cherry Creek Mortgage Company at 303.666.6550.

Colorado Mortgage Programs

Cherry Creek Mortgage Company provides Jumbo mortgages throughout Colorado, including but not limited to Broomfield, Westminster, Lafayette, Louisville, Boulder, Arvada, Lakewood, Golden, Wheat Ridge, Thornton, Erie, Littleton, Parker, Aurora, Castle Rock, Grand Junction, Colorado Springs, Fort Collins, Greeley, Windsor, Denver.

Recent advances in technology have helped to streamline and improve the lives of people all over the world. With a swipe of the card we can rent movies and pay for gas. We can use the internet to find better deals on new and used items. We can even go online and order a pizza to be delivered in less than an hour. All of these conveniences that we enjoy are made possible through the use of computers to capture, store, and reproduce data. This same information management technology that we use everyday to enhance our lives is also used by criminals to commit identity theft. The good news is that there are some simple precautions that you can make to minimize your exposure to this type of crime.

Identity theft is the use of personal identifying information such as birth date, social security number, or mother's maiden name to commit fraud. Skilled criminals can use the internet to put together an identity profile for a random individual. These criminals can then take that profile and commit a variety of fraudulent crimes. This type of fraud can range from using a stolen identity to get a credit card under another person's name to intercepting an electronic transaction and having the funds deposited into an unauthorized account. This type of illegal activity can get your bank accounts frozen bringing your life to a screeching halt. Not to mention what it can do to your credit. Often time's identity fraud can be more devastating and invasive than having your home broken into.

The following tips are some simple practices that you can implement to safe guard yourself against identity theft:

#1 Beware of 'Phishers' pronounced Fishers. 'Phishing' is one of the most common ways that information is captured using the internet to commit identity theft. 'Phishers' attempt to capture your personal information by sending you emails that look like they are coming from a reputable company that you do business with. The email will say something along the lines of 'Urgent! Immediate verification of account information needed. Click on the link below.' The email may even provide a phony customer service number to call. Either way it is just a scam to get you to voluntarily give up enough information for the criminal to commit fraud.

Beware of such emails.

Always call and question the purpose for the verification if you think that the email might be legitimate. Make sure that the link takes you to the official site of the company that you have an account with. If not, leave the page by using the x in the corner of the page to close the window. Effective use of your spam filters, firewalls, and routers can further minimize your exposure.

#2 Stop the Spyware and Viruses Spyware and viruses fall into a category of computer programs called 'malware' Malware is any type of computer program that is designed to infect your computer to monitor and record information going in or out of the system. A spyware program or a virus may be designed specifically to capture your banking information when you make a transaction online.

Once the identity thief has this information, he or she can open up other credit accounts in your name, redirect internet transactions, or commit any variety of other fraudulent activities. Usually, malware appears in the form of a pop up window or random link that appears while surfing the net. If you click anywhere on the window, other than the x in the upper right hand corner to close the window, you are basically granting permission to have your computer infected.

Other forms of malware can infect your computer when you download programs or music from the internet with spyware secretly attached. The FDIC, or Federal Deposit Insurance Company, suggests to avoid becoming a victim of malware while using the internet use should always be cautious of websites that you and your family visit. If you are going to download music or programs from the internet, only do so from reputable sites.

Reading all licensing agreements carefully is also a good idea to make sure that you are not being tricked into agreeing to allow malware onto your computer. The most important thing is to make sure that anytime you are making a transaction online it is being done with a well know company over a secure server. To make sure that the information you are transmitting is secure. Look for the beginning of the web address to start with https://. The 's' means secure. Or look for the gold lock on the bottom right hand corner of most browsers. This is also an indication that the information you are sharing is secure.

#3 Protect with Passwords Many times identity thieves will attempt to gain access to your existing online accounts. They may try to use your credit or debit account to make unauthorized purchases. To protect yourself place passwords on your credit card, bank, and phone accounts. Avoid using easily available information like your mother's maiden name, your birth date, the last four digits of your SSN or your phone number, or a series of consecutive numbers. When opening new accounts, you may find that many businesses still have a line on their applications for your mother's maiden name. Ask if you can use a password instead. Make any passwords or answers to 'secret questions' something that only you could know.

Changing some of your more important account passwords from time to time can't hurt either. If one of your normal passwords does not work when trying to access an account, make sure to call the company that you have the account with immediately to check for unauthorized transactions. Most credit card companies also have their own systems in place to offer you additional identity theft protection.

#4 Keep an Eye on It and Act Quickly To really protect yourself from identity thieves you need to keep a close eye on all of your open accounts. Review all of your statements each month carefully. Look for anything out of the ordinary or unauthorized. Check your credit report as well for any irregularities. You should also be careful who you share information with. Don't give out personal information on the phone, through the mail, or on the Internet unless you've initiated the contact or are sure you know who you're dealing with. Identity thieves are clever, and have posed as representatives of banks, Internet service providers (ISPs), and even government agencies to get people to reveal their SSN, mother's maiden name, account numbers, and other identifying information. Before you share any personal information, confirm that you are dealing with a legitimate organization.

Hopefully you will never be a victim of identity theft. However, if you ever have the slightest suspicion that someone may be using your personal information to commit fraud, the best thing that you can do is act quickly. The sooner you take action the more you will be able to contain any damage that is being done.

The first thing that you should do is to contact the company that provides the credit account and notify their fraud department. This should automatically freeze the account until the discrepancy can be investigated. Next, contact one of the three major credit bureaus and have a fraud alert placed on your account with (contacting one will alert all three). All of the conversations and correspondences that you have with the credit bureaus or companies where the fraudulent activities occurred should be documented. You will then want to file a police report and get a copy of the report for your records. Finally, you should report the fraud to the appropriate state agencies and the FTC. You can contact the FTC with an identity theft report directly at www.consumer.gov/idtheft.

Being aware of how identity theft occurs and keeping a close eye on your open accounts is the best protection against this type of fraud. According to the Identity Theft Resource Center, the average victim of identity theft spends an average of more than $1400 dollars in out of pocket expenses to correct the situation. This means that prevention really does pay off. Don't become a victim.

The Financial Prosperity Team of Cherry Creek Mortgage understands the importance of proecting your privacy and personal information.  Emails that have senstive date are all sent through a secure emailed and we now offer our clients to upload their documents directly on to our secured website.  Also, ask about our discounted identity theft protection program we offer.

Please remember Cherry Creek Mortgage Company can help you with your purchase, refinance, and cash out loans throughout Colorado includinging but limited to, Denver, Boulder, Fort Collins, Colorado Springs, Grand Junction, Arvada, Westminster, Lakewood, Wheat Ridge, Thornton, Lafayette, Broomfield, Littleton, Parker, Highlands Ranch, Erie, Lafayette, Louisville, Greeley, Windsor, Brighton, Northglenn, Castle Rock, Windosr, Niwot, Superior 

1. Know How Much you can Afford and How Much you Can Put Down

It's important to know how much you can afford for a mortgage payment before you start the process.  Develop a monthly budget and remember to include future expense.  Once you know what you can afford on a monthly basis you need to determin your down payment.  FHA loans allow for a buyer in Colorado to only set aside 3.5% for a down payment.  For example if your purchase price is $200,000, your will need $7,000.00 for down payment.  If you can don;t have 3.5% you still may be able to purchase house, check out the down payment assistance options in Colorado. 

2. Working With A Mortgage Professional Who Has A Poor Performance Record

Industry insiders know that the most common reason that a sale fails to go through is that the mortgage fails to go through.  It's always a good idea to ask for recent references from your mortgage professional.  With the recent guideline changes it's always better to work with a local loan officer/mortgage broker that understand the market and Colorado mortgage laws.  You can view our testmonials from recent clients.  Cherry Creek Mortgage Company is the #1 purchase lender in Colorado becuase of our reliability to help home owners obtain financing. 

3. Not Understanding The Process

Most of us don't shop for a mortgage very often. As a result it isn't something we become familiar with. Work with a mortgage broker who will take the time to answer your questions and uses terms you understand.   If you are a 1st time home buyer the mortgage professional should take the time in the beginning to explain the process and give you a good idea on what you should expect.  Check out the process at Cherry Creek Mortgage company

4. Working With A Mortgage Professional with Limited Products

Not all lenders have a range of options when it comes to investors. What if that investor doesn't offer the type of mortgage you need? Or worse yet, what if you need to change loan products after you've started the process? Big banks only have their products and if you don't fit in to their guidelines they can't help you.  Often borrowers unable to receive an approval from a bank and give up thinking they can't get approved at all. 

On the other hand, mortgage brokers are at the mercy of their wholesale companies.  They often have little say on turn times, appraisals, and when the loan will be approved.  They may have the ability to complete your mortgage, but not when it will happen.

Regional mortgage banks, such as Cherry Creek Mortgage Company, are able to provide the advantages of both banks and mortgage brokers.  Cherry Creek Mortgage Company has the ability to shop for the best mortgage program and rates, but also handles 95% of mortgage transactions in house.  We process, underwrite, close, and fund most mortgage transaction with in the company.  Giving us the flexibility to close loans quick and effeciently.

5. Making Large Purchases Prior to Your Mortgage Application

Many people think that it is in their best interest to get large purchases completed prior to applying for their mortgage. As total debt is a key component in determining the amount of home you qualify for it is best to wait until after your home purchase has closed to make such purchases.  New mortgage guidelines now require mortgage brokers and lenders, like Cherry Creek Mortgage Company, to verify no new debts have been acquired since application and to pull credit report before funding any mortgage.

6. Over Shopping Your Loan

Each time you call a lender seeking the best possible rate and terms you have your credit report pulled. Every time your credit report is pulled you risk decreasing your credit score and thus possibly decreasing the likelihood of getting the best rate and terms. Experts recommend that you select a mortgage lender with a number of investors and do your shopping with her/him.  Cherry Creek Mortgage Company has the ability to shop mutiple different investors to ensure you receive the best mortgage loan.

7. Hiding Things From Your Mortgage Lender

Most of us have experienced times of financial difficulty at some point. While it can be embarrassing to discuss issues like this, your mortgage lender is there to help you get loan approved despite such issues.   

8. Making Late Payments

Late payments, especially those within the last year, can be very detrimental to getting the best rate, terms and even the difference of being approved at all. While this might seem like unnecessary advice, ALWAYS pay on time.  Life does happen and if you have a problem making a payment CALL the creditor and see if you can work some thing out so they don't report negatively on your credit.

9. Over Using Credit Cards

Credit cards are a convenient way to make purchases, but if not paid off or balances kept low you might find it more difficult to get the best rates and terms on your mortgage. Keeping your total debt as low as possible helps you get the mortgage that best meets your specific needs.

10. Paper Trail

While it can be a great service to a friend or loved one, signing to guarantee someone else's loan is often a big head ache for the cosigner. Before cosigning make sure you have a plan with the person that they will provide you will evidence that they make the payment every month.  If you don't have a paper trail to verify you are not making the payment it may hurt your chances for loan approval.

Cherry Creek Mortgage Company

Cherry Creek is Colorado #1 purchase lender because we work hard to help our clients find the best mortgage for their family and we take the time to ensure a smooth process.  If you have any questions please feel free to call us any time. 

Please remember Cherry Creek Mortgage Company can help you with your purchase, refinance, and cash out loans throughout Colorado including but limited to, Denver, Boulder, Fort Collins, Colorado Springs, Grand Junction, Arvada, Westminster, Lakewood, Wheat Ridge, Thornton, Lafayette, Broomfield, Littleton, Parker, Highlands Ranch, Erie, Lafayette, Louisville, Greeley, Windsor, Brighton, Northglenn, Castle Rock, Windosr, Niwot, Superior.

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Cherry Creek Mortgage Company Mortgage Manager Program

The Financial Prosperity Group of Cherry Creek Mortgage Company offers all our clients free enrollment in to our Mortgage Manager program.  We believe our service shouldn't end when you mortgage loan closes and funds, which is why we developed out Mortgage Manager program.  The program ensures that you will have an experienced mortgage professional managing your largest asset.

Some of the benefits of the Mortgage Manager Program:

• Free annual home value analysis and monthly neighborhood sold home alerts
• Free credit report, scores, and credit management session every six months
• Mortgage Market Watch, our system that will automatically notify you when interest rates decrease below your current interest rate
• Financial Prosperity Team's Professionals, a group of professionals we highly trust that offer discounts to our clients.
• Discounted Identity Theft Protection

Our Mortgage Manager program is one of many reasons why the Financial Prosperity Group of Cherry Creek Mortgage is Colorado's bet mortgage group.