Do you need a jumbo mortgage loan? If you are buying a home in Denver and seeking a mortgage of more than $417,000, you will need a jumbo mortgage, or non-conforming, loan. Jumbo rates are usually somewhat higher than conforming rates, because the lender’s risk in case of default is higher. You will also need a slightly larger down payment even though 10% down has returned to the marketplace. For the most recent information about Denver jumbo mortgage programs and down payment requirements, contact me.
You may be concerned, given the current recovery from the mortgage crisis, about how much higher the rates are, you may have heard that down payment and equity requirements are at 25% or more. In fact, the Denver real estate market is recovering nicely and is one of the top markets in the US at this time. Our Denver jumbo rates are competitive with the rest of the country, and qualified buyers will have no difficulty getting a mortgage.
However, to get the best Denver rates, it is a good idea to use a mortgage advisor like me, rather than approaching banks directly. As your mortgage advisor I’m familiar with all the lenders offering jumbo loans in Colorado, and can direct you to the best and most competitive programs.
Many homebuyers who use a Mega-bank end up with mortgages that do not suit their needs or having their loan turned down, because the lender they worked with was not really a match for their needs. And some banks are not making these loans at all or under very tight guidelines, but do not publicize it.
Stone Creek Mortgage is very customer-centric, dedicated to giving you the best home buying experience possible. Stone Creek Mortgage understands that no two homebuyers need the same loan, and works with each of his customers to provide exactly what they need. If you are searching for the best Denver jumbo rates, call today and we’ll find the best mortgage for your home. We are committed to giving you the best possible experience as you buy a new home in Denver.