Getting a Mortgage in Colorado

When preparing to purchase a home you will need to be preapproved for a mortgage. When getting a mortgage in Colorado you need to be pre-approved for the mortgage. Especially since the 2009 financial crisis, you will need a large list of documents before you are approved for a  mortgage.

Here we go, you will need: 

  • Your full name and date
  • Social Security number
  • Phone number
  • Proof of residence for at least two years
    • If you’re a renter, rental history is needed
    • If you’ve owned, you’ll need all mortgage, insurance and tax information for your primary residence and all other properties owned
  • Employment history for two years including:
    • Company name
    • Addresses
    • Phone number
    • Job title
  • An income history for at least two years including:
    • Commissions received
    • Bonuses
  • If self-employed include: 
    • Two years of bonuses
    • Commissions
    • Self-employed income received
  • All asset account balances including:
    • Checking
    • Savings
    • Investment
    • Retirement
  • Debt payments and balances including:
    • Credit Cards
    • Mortgages
    • Student Loans
    • Car Loans
    • Alimony
    • Child Support
    • any other fixed debt obligations.

Also, confirm whether you’ve had bankruptcies or foreclosures within the past seven years, whether you’re a party to any lawsuits, or you’ve co-signed on any loans. Confirm if any part of your down payment will be borrowed.

When you have these documents ready, you can begin your search for Fort Collins/Loveland, Co real estate for sale.

Applying for a mortgage

You have several options for getting pre-approved for a mortgage. Some of the conventional options are:

  • Conventional Bank Mortgage
  • FHA Loan
  • VA Loan
  • USDA Loan

The Colorado Housing and Finance Authority also has several loan options for first-time homebuyers and residents of Colorado. They include:

  • CHFA FirstStep Loan
  • CHFA SmartStep Loan
  • CHFA Preferred Loan
  • CHFA Advantage Loan
  • CHFA HomeOpener Loan
  • CHFA HomeAccess Loan
  • CHFA SectionEight Homeownership Loan
  • CHFA Down Payment Grant
  • CHFA Second Mortgage Loan
  • CHFA Mortgage Credit Certificate

Never has getting into a home been so easy or getting a mortgage in Colorado. If you wish to start your home search today contact Jay Seier and Jolly Homes Team at Resident Realty.