Top 5 Questions to Ask a Lender

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.

These five questions will help you on your path to new home ownership!

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!


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.

June Monthly Market Stats –

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{698b30d9bf640d0eb60735be3113b1bdd5153a3d4f5fb3078515512b83165c46} from May, and are 8{698b30d9bf640d0eb60735be3113b1bdd5153a3d4f5fb3078515512b83165c46} 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{698b30d9bf640d0eb60735be3113b1bdd5153a3d4f5fb3078515512b83165c46} from May and up 12{698b30d9bf640d0eb60735be3113b1bdd5153a3d4f5fb3078515512b83165c46} 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{698b30d9bf640d0eb60735be3113b1bdd5153a3d4f5fb3078515512b83165c46} drop and attached homes have seen an 11{698b30d9bf640d0eb60735be3113b1bdd5153a3d4f5fb3078515512b83165c46} percent drop in under contracts. Sold SFH’s, detached and attached, have declined by 17{698b30d9bf640d0eb60735be3113b1bdd5153a3d4f5fb3078515512b83165c46} 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)

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 

Denver Numbers Near 5 Billion

Downtown Denver

Downtown Denver










Investment Denver Numbers near 5 Billion!

“More people are living and working Downtown than ever before, creating a strong demand for development,” said Tami Door, president and CEO of the Downtown Denver Partnership. “It’s clear that our collective community efforts to build a world-class center city, and to achieve our vision of an economically healthy, growing and vital Downtown, are attracting investors and developers alike.”

In total, the map lists 71 public and private sector developments or infrastructure projects in Downtown Denver with uses spanning commercial, entertainment, government, hotel, office, residential and transportation.  The map also reports on several key facts about Downtown Denver development since 2010, including:

  • 5,565 residential units added or under construction
  • 3,062,833 square feet of office space added or under construction
  • 2,630 hotel rooms added or under construction
  • $4.8 billion of total development investment in the last five years ($1.4 billion investment through projects under construction and $3.4 billion investment through projects completed since 2010)
  • 16 projects have already been completed or are scheduled to be completed in 2015
  • More than one third of the projects have a residential component


Take a look at all the data! 2015-Downtown-Denver-Development-Stats


—- courtesy of Downtown Denver Partnership

Bank – Corespondents – lender

Bank – Corespondents – lender. Wait! There is a difference? What does each do and who may be a better fit for when you are looking into a home loan refinance or home purchase?

Mike Kenevan and Brett Baird top lenders in Colorado answer.

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For more information please feel free to contact Brett, Mike or myself.

 Sarah Bowles Colorado Native Realtor 720-83-SARAH (72724)

Brett Baird CityWide Lending 303-548-7334

Mike Kenevan AmeriFirst Lending 303-901-9978


Lender Loan Credit

Lender loan Credit, what is it? How can they help or when can they  be given?

Colorado Top Lenders Brett Baird and Mike Kenevan are here to share!

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For more information please feel free to contact Brett, Mike or myself.

 Sarah Bowles Colorado Native Realtor 720-83-SARAH (72724)

Mike Kenevan AmeriFirst Lending 303-901-9978

Brett Baird CityWide Lending 303-548-7334


Home Appraisal

Home appraisal, what is it? Why do you need it when you purchase a home? Why and how does that effect your loan and home purchase ability?

Mike Kenevan and Brett Baird, Colorado Top Lenders are here to explain.

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Now that you know a bit more, what if you are not purchasing but refinancing? This same process will still take place. However, if you are refinancing, make sure to reach out to me and I am happy to create an appraiser package to present to the appraiser to do all that is in your power to get the best value possible for your home. Please note, if you are out side of the Denver, Denver Metro Area I have affiliates that are also able to provide this service.

For more information please feel free to contact Brett, Mike or myself.

 Sarah Bowles Colorado Native Realtor 720-83-SARAH (72724)

Brett Baird CityWide Lending 303-548-7334

Mike Kenevan AmeriFirst Lending 303-901-9978


Escrow, impound for a mortgage explained

Escrow, impound …. explained!

Is it the same thing or is it different? What is the effect on a home loan/home mortgage? Brett Baird and Mike Kenevan some of my top lenders, in Colorado, are here to help answer frequent questions that they get asked!

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For more information please feel free to contact Brett, Mike or myself.

 Sarah Bowles Colorado Native Realtor 720-83-SARAH (72724)

Brett Baird CityWide Lending 303-548-7334

Mike Kenevan AmeriFirst Lending 303-901-9978