Mortgage Options for Buyers

Understanding Your Mortgage

Before you begin your home search, we want you to understand the mortgage that will allow you to buy that dream home you are looking for! Not many people understand that buying a home requires two purchases. One is the purchase of the home itself and the other is the mortgage needed to make the home purchase! Most people are concerned with the sales price, interest rate, and the total monthly payment. Many people do not understand the different loan types, what determines the loan amount and what goes into the final mortgage payment.

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Avoiding Credit Mistakes when Applying for a Mortgage

When a homebuyer is in the market to buy a house, looking for the perfect home can be very exciting.  When you need a mortgage to buy a home, obtaining that mortgage can be stressful.  While you don’t want to make any mistakes when it comes to choosing the right home, you also want to avoid mistakes when it comes to applying for and being approved for your mortgage.

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Downpayment Assistance Programs

The housing market in Colorado Springs has been consistently gaining momentum and strength! As a result, many people wanting to buy a home have entered the market. If you are a first time homebuyer, we wanted to let you know about some of the homebuyer assistance programs that are available in Colorado. Colorado is ranked in the top ten states for first time homebuyer assistance and there are several programs available to help you get into your first home! Take advantage of these programs while home prices and interest rates are still great.

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Choosing Your Mortgage Lender

When you are shopping for the right house, it is just as important to shop for the right loan! Get rates and quotes from several lenders and compare their fees and APRs. It makes sense to get references and referrals for different lenders and read lender reviews before making a final decision on a lender and your loan.

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Mortgage Options for Buying a Not So Perfect Home 
Many of the homes on the market are being sold as a short sale or REO (bank owned) properties. As a result, many of the houses on the market may not be in perfect condition. Many home buyers shopping for properties are turned away at the numerous repairs that are needed on a lot of these houses and consider them out of their price range because they don’t have the repair funds available. Well, Pink Realty is here to inform you about a program that can change all that. There is a way to buy ‘Not so Perfect Home’ and fix it up to make it your dream home.

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Credit Scores and Mortgage Loans 
In today’s economy, it’s becoming more and more difficult to get your bills paid on time. After a few late payments, you may wonder what the impact is on your credit report and your credit score. Whether you have lost a job, gone through divorce, lost a spouse, or dealt with a serious medical issue, you know that any hardship can wreak havoc on your financial responsibilities. You are not alone, and we at Pink Realty help people who have dealt with these all the time. More than 43 million people in the United States have credit issues that are severe enough to make obtaining credit with reasonable terms very difficult. If you want to repair your credit and improve your score so that you can buy a home, there are some things that you should understand.

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What is an FHA Loan 
The FHA requires a wide range of information when applying for an FHA loan. To pre-qualify for an FHA loan, you will need to demonstrate employability, job stability and reliability. When completing your application, you will need to provide all prior addresses within the last 2 years, your employment information for the last two years along with your current gross income, and W2s and signed income tax returns for the past two years.

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What is a VA Loan 
With Colorado Springs County, Colorado being home to Fort Carson, Peterson Air Force Base, Schriever Air Force Base, Cheyenne Mountain, the Colorado Springs Air Force Academy, and countless military contractors who heavily recruit retired military personnel, VA Mortgage Loans are not only a common loan type, but local market driver. Because of the demand for these types of mortgages in Colorado Springs, we at Pink Realty want to answer the Top 10 questions that military and retired military home buyers have about VA mortgages.

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What You Need to Know Before Getting a Mortgage 
etting a mortgage is one of the most complicated steps in buying a home in Colorado Springs or anywhere. Will I qualify for a home loan? What do I need to get pre-approved? What type of mortgage can I qualify for – FHA, VA, conventional, an ARM, fixed rate, …? What is the best type of mortgage to get for my situation? Should I go to my bank or find a Mortgage Broker? Learning more about what you should know is important. Preparing yourself and doing your homework will take some of the stress away and speed up the closing process for you once you’ve made an offer on a house.

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Buyers Guide

Buyers Guide

Everything you need to know about the home buying process.

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Mortgage Options

Downpayment

Learn about Colorado’s great downpayment assistance programs.

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