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.