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Colorado Lenders
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Local Colorado Mortgage Brokers
Local Colorado Mortgage Brokers

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A graph of the 10 year treasury yield. Most in Real Estate are hoping for a retreat back down!! This graph reflects from the 3rd quarter of 2016 to the present time. #Colorado #mortgage #rates
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I know mortgage interest rates are not the most fascinating thing to post, but nevertheless, have a look at this niche Jumbo purchase/refinance mortgage product. If you have a borrower who is after the lowest Jumbo (up to 750k loan amount, 89.99%LTV) ARM product I have seen for their primary residence, have them give Robert a call at 303-578-9202.

At today's pricing (2/11/2015), with only 10.01% down and a minimum Credit score of 720* (very strict on the score), the ARM rate is....

ready?

3.25%!!!!!

Fixed for the first 5 years...up to a loan amount of 750k...LTV of 89.99% max!

No additional origination or discount points required. Additional closing costs and prepaids apply.

ARM details:
5/1 Arm with 30 Year Term
7/1 Arm with 30 Year Term
*Libor-1 year base
*Margin 2.25%
*2/2/5 Caps (5year)
*5/2/5 Caps (7year)
*Floor Rate Equal To Start Rate

*Rate, product, and terms are subject to an Underwriter's final approval. Colorado Lenders, Inc (NMLS#1390238) is a Mortgage Brokerage Firm serving all of Colorado. 720 credit minimum, loan amount from 417k-750k
*85.01-89.99% LTV requires 25% MI Coverage. In addition to the preceding criteria, the following will also apply:
*Jumbo loans must meet QM guidelines
*Single Family Properties (NO 2-4 unit properties)
*Condo Max LTV 50% With Limited Review
*No Rental Desks/Condotels
*Cash Out limited to 10% of the loan amount
* All Subordinations and Cash Out Refinances will be reviewed on a case by case basis.
*Maximum DTI 40%
*Subject to Bank overlays for derogatory credit information.
*Maximum Interested Party contribution 6%, if greater than 80% LTV contribution 3%
*Must be Approved/Ineligible through DU-Must only be ineligible because the loan amount exceeds the conforming limit and a valid ARM plan has not been specified.
*2 appraisals are required for property values of $1,000,000 and above.
*80.01-85.00% LTV requires 12% MI Coverage.
*Max CashOut LTV/CLTV is 80%/80% (cash-out is only allowed on Owner Occupied properties)

Colorado Lenders, Inc 303-578-9202
5171 Eldorado Springs Drive, STE E, Boulder, CO 80303 www.coloradolenders.com

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Colorado Market Update:

It is safe to now say that the metro Denver and surrounding areas are an excellent place to buy real estate RIGHT NOW. Rents are high and increasing as well as property values, mortgage rates are at 9 month lows, and there is no looking back. In 5 years do you think it will be possible to find a 4 BR, 3BA house for 170k-220k relatively close to downtown Denver in a nice area? I seriously doubt it.

First-time home buyers should calculate the difference between renting and paying a mortgage.

Baby boomers and folks with some money for a down payment should consider rental properties, again, for many factors including the strong rental market.

Give us a call anytime to discuss these scenarios or to ask any questions you may have about the current Colorado real estate and mortgage markets. We have lots of experience in both of these fields and are always excited to help buyers into a wealth-building situation.

Direct: 303-578-9202
NMLS: 949403
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