Top 5 Questions to Ask a Lender

http://acf.ch/wp/?m=poor-credit-installment-personal-loans-utah

http://condadotravel.com/?q=same-day-pay-loans-in-pa You’ve decided you’re ready to buy a new home. Whether this is your first or your fiftieth, chances are you’ll need to speak to a lender about what is is you can afford, the interest rates that you qualify for, and your target mortgage payment.

http://selinathompson.co.uk/?m=payday-loan-that-don%27t-require-bank-account These five questions will help you on your path to new home ownership!

payday loans on fruitridge 1. What is the interest rate?

Your lender will offer you an interest rate based on the loan and your credit. The interest rate, along with the mortgage balance and loan term, will determine your real monthly payment. A loan with a lower balance or a lower interest rate will make for a smaller monthly payment. If you’re not satisfied with the interest rates offered, you can work on fixing your credit.

2. What is the monthly mortgage payment?

As you hone in on the budget for your new home, make sure you are explaining to your lender what you want your monthly payment to be. Oftentimes we forget to include insurance and taxes in your monthly payment- as well as potential home owner’s association fees. Your monthly mortgage payment shouldn’t make you house poor- you should be able to put your money to work for your other financial goals, as well!

3. Is the mortgage fixed rate or an ARM?

Fixed-rate loans are the same rate for the total lifetime of the loan, which can be 10 to 30 years. Adjustable-rate mortgages, or ARMS, have interest rates that change at regular intervals. If you don’t plan on living in your home for the duration of the loan, a hybrid ARM might be a better choice for you. Ask your lender to break down all of the available options.

4. Can you meet contract dates and deadlines?

Most local lenders are excellent at meeting contract dates and deadlines- like the appraisal deadline or closing date. If your lender cannot make the deadlines that are in your local real estate contract, they could potentially lose the home for you.

5. Do you have other mortgage products with lower rates I might qualify for?

Make sure you work with a lender who is capable of creative thinking and who can help you with your current situation. There are a variety of different mortgage products that may fit your needs better than a conventional option.

If you’re ready to buy a home and need to be connected with an excellent local lender, reach out to me. Finding a lender is often the first step in home ownership!

For any other questions, please don’t hesitate to reach out!

Cheers!

Sarah Bowles

1578 N. Emerson Street

1900’s Denver brownstone with over 2000 sf offers an open main living area with original details. The fully restored wood windows, banister details, original hardwoods and tall ceilings capture the history and charm that Denver has to offer. The large windows and skylight shower the home with natural light. Enjoy quiet, as the walls are brick and very thick. The basement has a second entrance, so you can use it as a den or as a rental or mother-in-law suite. The neighbors are a delight and are passionate about community! Enjoy all that Denver and Uptown have to offer, with access to theaters, museums, shopping and dining! Downtown Denver is less than 5 minutes away- so you’ll never miss a beat.

Denver is The Millennial City!

More people are moving to Denver than ever and a good portion of the people moving here are millennials.  What is a millennial?  There are many definitions yet let’s go with “someone born from 1981 to 1997″.  Denver is drawing this demographic for many reasons which keep most of us here: weather, outdoor activities and business opportunities.  In fact, an average of 12,682 more millennials per year moved here than left! To find out more about why millennials are coming here please follow link to The New York Times Article.tHE bEST cITY for millennials

 

 

 

Open House Sat. July 16th, 11-3 ~ Beautiful Estate Home in The Preserves at McKay Shores ~

Stunning Estate home with ample upgrades and designer finishes which distinguishes itself from other homes in the neighborhood! Main level and basement have been extended out by 6′, garage has been extended out by 4′. Master-craft cabinetry throughout, amazing pictures windows in the great room allow lots of Colorado sunlight to warm the open space. 6,323 finished sq.ft. allows plenty of living and entertaining space. For an amazing viewing experience: http://ow.ly/vl9w302hEGB

 

Open House Beacon 11 - 3 updated price link

June Monthly Market Stats –

get link June Market Shows Some Improvement for Buyers

The Colorado real estate market has definitely been geared towards sellers for the most part of last year through today. June’s statistics show some favorable trends though for buyers! Listings for single family attached and detached homes have gone up 13% from May, and are 8% up from a year ago. Buyers now have more options to view and purchase, which will hopefully decline multi bidding wars, leading to frustration.

Unchanging though, is the high cost of purchasing. SFH’s have averaged a sales price of about $419,000, up 3% from May and up 12% from last June. Attached SFH’s averaged a sales price around $293,000.

Another interesting trend is the decrease in under contracts and sold homes compared to this time last year. Detached homes have seen a 4% drop and attached homes have seen an 11% percent drop in under contracts. Sold SFH’s, detached and attached, have declined by 17% ytd. Could this be due to transactions falling out of contract or is it the time of year?

With July upon us, the market tends to cool down as families are traveling before kids return to school. Will July show more of a slow down on homes making it to the closing table, or with more inventory, will buyer’s be more likely to find the right home and go under contract?

Until next month Colorado!

June monthly Indicators Local Market Updates June JUNE SNAP SHOT

“Cool Off in July” – Newsletter

Cool Off in July (1)

~Open House~ Beautiful Estate Home in The Preserves at McKay Shores~ Sat. June 9th, 10-2

Please join us for a Public Open House Saturday from 10-2 at 13904 Beacon St., Broomfield, CO

Open House_13904 Beacon Street_Erin_Sarah

Falling Out Of Contract

Under Contrat

 

 

Your good friends just went under contract on a home, then you hear that the contract fell through.  What circumstances arose to have this happen and what does this mean for your friends?  Watch the video in the below link to learn more.

Falling Out