Colorado Mortgage Rates

June 29, 2017 04:57 AM Eastern

Refinance rates now in Denver, CO [Change this]

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    Home Price (Purchase)
    When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
    Home Value (Refinance)
    This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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    Down Payment
    The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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    Credit Score
    Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.
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Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

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Colorado Mortgage Rates and Loan Options
Colorado is best known for its breathtaking mountains and rivers, which delight thousands of out-of-state hiking and camping enthusiasts each year, along with the 5 million people who make Colorado their home.

Colorado has much to offer its residents who inhabit both small towns and big cities, along with a myriad of financial programs for those looking to become homeowners, or refinance an existing loan. Colorado is second to none in offering mortgage programs and competitive mortgage rates through its public and private lending institutions, as well as the many commercial banks and conventional lenders found right here at

Colorado Mortgage Interest Rates and Housing Assistance
For those who have trouble coming up with equity to purchase a new home, The Colorado Housing Assistance Corporation (CHAC) makes the down payment assistance program available. Regardless of a home's purchase price, residents statewide can apply for a second mortgage to cover the down payment and closing costs required by their first mortgage lender. The loans are made at market rate simple interest and require a relatively low monthly payment.

In some counties, such as Jefferson, Denver, and Arapahoe, borrowers can obtain down payment assistance loans at fixed interest rates well below current Colorado mortgage rates. In some cases, the loan payments can be deferred up to five years after the borrower purchases their home and obtains the mortgage. Not having to pay a second mortgage for that long period of time allows a buyer to maintain her cash flow and not have to worry about rising loan payments.

Colorado Public Housing Opportunities
The federal government's Office of Public Housing services the State of Colorado and exists to empower its people and strengthen its communities. Colorado residents can benefit from housing counseling, financing below current CO mortgage rates, and down payment and closing cost assistance for eligible buyers.

Government Insured Loans and CO Mortgage Rates
In high cost areas like Eagle County, the FHA has raised its normal maximum loan limit. This allows buyers of higher priced homes to take advantage of FHA loan programs that are typically offered to the more moderately priced homes. In other counties, the FHA loan limits remain at normal levels which can be researched through your local lenders found here at or through the FHA.

Conventional lenders also make traditional FHA insured home loans for secondary market buyers Fannie Mae and Freddie Mac. For this purpose, there are conforming loan limits across all of Colorado, depending on the county in which you live. For information about current conforming loan limits in Colorado, please visit: 

Because of their low down payment options and ability to use gift funds from family members, employers, and charitable organizations, and their low CO mortgage interest rates, these loans have become favorites of first time homebuyers in Colorado.