FHA Home Buyers In Woodland Park, Peyton/Falcon 80831 Colorado - Ask These 3 Questions

If you are thinking about purchasing a home right now, There are three questions you should ask before purchasing in today’s market.

1. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances. A study by the Joint Center for Housing Studies at Harvard University reveals that the four major reasons people buy a home have nothing to do with money:

• A good place to raise children and for them to get a good education
• A place where you and your family feel safe
• More space for you and your family
• Control of the space

What non-financial benefits will you and your family derive from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are home values headed?

When looking at future housing values, Home Price Expectation Survey provides a fair assessment. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number. Here is what the experts projected in the latest survey:

Home values will appreciate by 4% in 2015.

The cumulative appreciation will be 23.5% by 2019.

Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of over 15.1% by 2019.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by an increase in mortgage rates. The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac have all projected that mortgage interest rates will increase by approximately one full percentage over the next twelve months.

Bottom Line

Only you and your family can know for certain the right time to purchase a home. Answering these questions will help you make that decision.

For Free Mortgage Advice Call Our Toll Free Hotline at 877-251-9709

Go to www.FHAHomeLoansApproved.com

Kevin Guttman

Colorado Home Loan Team

www.ColoradoHomeLoanTeam.com

877-251-9709

Colorado - Statewide

Colorado Springs - Denver, CO

We Finance Dreams

4 Reasons To Buy Your Next Home In Rockrimmon Colorado Springs 80919 BEFORE Spring

The holiday season is behind us, time to focus on what exciting new experiences 2015 can bring! If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring.

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 15.1% (most pessimistic) and 32.8% (most optimistic). The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 

2. Mortgage Interest Rates Are Projected to Increase

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of 2015. An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3. Either Way You are Paying Rent or a  Mortgage

As a paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait? Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy. If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.



FREE Mortgage Advice Hotline Call 877-251-9709.
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Colorado Home Loan Team
Kevin Guttman
Top Colorado Home Loan Advisor
Colorado - Statewide
Free Mortgage Hotline 877-251-9709
www.ColoradoHomeLoanTeam.com
Colorado Springs, CO 80920

We Finance Dreams

Denver 80110 Mortgage Loans For Fannie and Freddie Now Approved For 3% Down Payment Mortgages

Fannie and Freddie officially approve 3% down payment mortgages for Denver home buyers

Both government-sponsored enterprises officially announced their individual 97% loan-to-value products, in the government’s latest attempt to expand the credit box for first-time homeowners.  

Back in October, the Federal Housing Finance Agencyannounced a number of policy steps aimed at increasing mortgage credit availability at the Mortgage Bankers Association conference in Las Vegas. 

Fannie Mae was first and during the conference said that it would soon begin offering a 97% LTV mortgages, withFreddie Mac likely to follow suit. The government-sponsored enterprise will package these loans into pools and securitize the mortgages on the secondary market.

 “The new lending guidelines released today by Fannie Mae and Freddie Mac will enable creditworthy Denver real estate borrowers who can afford a mortgage, but lack the resources to pay a substantial down payment plus closing costs, to get a mortgage with 3% down. These underwriting guidelines provide a responsible approach to improving access to credit while ensuring safe and sound lending practices,” FHFA Director Mel Watt said.

“To mitigate risk, Fannie Mae and Freddie Mac will use their automated underwriting systems, which include compensating factors to evaluate a borrower’s creditworthiness. In addition, the new offerings will also include homeownership counseling, which improves borrower performance. FHFA will monitor the ongoing performance of these loans,” Watt continued.

FHFA officials said on a conference call with reporters Monday morning that the products target specific borrowers, and while it is predicted that this will represent a small portion of their businesses and an even smaller portion of their combined guarantee books, it is estimated to have a broad appeal to millennials buying Denver Colorado homes.   
        

“There is a group of millennials that are waiting out there to jump into the market that do have the ability to repay,” officials on the call said.

And these products are coming at the right time as top housing economists predict 2015 to be a significant year for millennials purchasing Denver Colorado real estate.

According to Realtor.com’s chief economist Jonathan Smoke’s annual forecast for 2015, “The story about millennials not forming households and getting into homebuying is more of a 2012 and early 2013 story. It’s outdated. Our view of 2015 is informed by strong trends and indicators of what’s happening today with millennials.”

Both population and households have grown at a slightly higher pace in 2014 and this trend will continue in 2015 with modest improvement over 2014 increases. Households headed by millennials will see significant growth as a reflection of economic gains. Millennials will also drive two-thirds of household formations over the next five years. Next year’s addition of 2.75 million jobs and increased household formation will be the two key factors driving first-time buyer sales. 

Although both GSEs have released 97% LTV programs, there are key differences.

Fannie Mae:

Fannie’s My Community Mortgage product with a 3% down payment will be available through it desktop under writing tool the weekend of December 13, 2014. However, it will accept applications before then, but for full roll out functionality, it would require that tool, Fannie Mae representatives said on the call.

Up until a year ago, Fannie said it was in the market with a standard 97% LTV program, and because of this past experience, it feels confident with the risks.

“The reason for pulling back a year ago was that we thought we were the only source. It was not a performance or risk issue, but we felt like we were sticking out,” Fannie officials.

Freddie Mac:

Meanwhile, since this product is a lot newer for Freddie, it is waiting to implement the product until March 23 to give itself more time to do some foundation work.

Freddie created the product to make homeownership accessible to more first-time buyers and other qualified borrowers with limited downpayment savings.

And unlike Fannie, Freddie is not limiting its product to first-time homebuyers. But if they are first-time homebuyers, they must participate in an acceptable borrower education program, like Freddie Mac's CreditSmart, to qualify for Home Possible Advantage.

To Qualify and Get Your Loan Pre-Approved Online Start Here

Kevin Guttman
Sr Mortgage Banker
Top Colorado Home oan Originator
www.ColoradoHomeLoanTeam.com
877-251-9709
Colorado - State Wide
Colorado Springs, CO 80920
www.FHAHomeLoansApproved.com

Denver, Fort Collins, Colorado Springs, Colorado FHA Home Loan Mortgage Guide

Your Colorado FHA Loan Guide

FHA loans are a great option for the homebuyer who needs to finance their entire loan amount, or is looking for a lower down payment and closing costs than conventional loans. FHA loans are backed by the US Department of Housing and offer an easier application and more flexible qualifications for those needing to secure a home loan.

FHA Loan

Colorado Home Loan Team helps homeowners secure FHA loans. FHA loans allow you to purchase a home with a 3.5% down payment, or refinance a home up to 96.5% of the home's value. FHA loans are easier to qualify for, and offer several homeowners an easy way to secure financing.

See if you pre-qualify for an FHA loan today!

Streamline FHA

If you have an FHA loan that originated before June 2009, you may qualify for a streamline FHA refinance. This means that you can refinance your current FHA loan with a very simple process. Unlike the standard refi or loan application process,  the Streamline FHA makes it easier.

If you are currently over 4.5%, a new FHA program coud save you THOUSANDS!

Here are some benefits of a Streamline FHA Loan:

• Better loan terms
• You do NOT need an appraisal on your home, even if you are upsidedown
• You do NOT need to verify your income or employment
• Your credit score will NOT be pulled

This program is easy to apply for and you can find out within minutes if you may apply for the FHA Streamline Loan. Take advantage of the lower interest rates and all of what this FHA program has offer.

To read more, visit our What is a Streamline FHA Refinance 

Call (877) 251-9709 for an FHA Streamline Refinance today!

About FHA Loans

FHA loans originate from the Federal Housing Administration and are insured by HUD (US Dept. of Housing) so that lenders can offer more affordable mortgage rates. FHA loans require lower down payments and closing costs. There are even options for financing 100% of the loan, and several grant programs that provide FHA loan customers financing for the down payment.

Denver & Colorado Springs FHA loans offer options to those who've undergone bankruptcy or foreclosure. They're available to first time homebuyers, refinancers and anyone who's purchasing property and doesn't already have an existing FHA loan. The guidelines for debt ratio and job qualifications are more lenient than a conventional loan.

Refinancing your Mortgage with an FHA Loan

You may refinance your Colorado home loan with an FHA loan if you don't currently have an existing FHA loan. Refinancing options include fixed, adjustable (ARM) and buy-down mortgage rates, although most buyers have a fixed-rate FHA loan. Refinancing with an FHA loan is allowable even if you're late on your current mortgage or facing foreclosure.

FHA loan applicants find that FHA loans do not have as strict of income guidelines nor credit history as conventional loans. FHA loans offer competitive rates for those in foreclosure or bankruptcy. There are also options for loan consolidation with FHA loans.

FHA Loan Qualifying

FHA loan requirements are more flexible than conventional loans and provide the easiest application. Below are the requirements for FHA loans:

• Need two years of consistent employment - preferred by the same employer.
• Income over the past two years is the same, or increasing. 
• Credit guidelines vary; please ask Kevin Guttman for details.
• Bankruptcies must be 2 years old; good credit since the bankruptcy
• Foreclosures must be 3 years old; good credit since the foreclosure.
• Mortgage payment of your new home must be around 30% of your gross income.

To see if you pre-qualify for a FHA home loan, contact Kevin Guttman today at 877-251-9709.

Kevin Guttman

Sr Mortgage Bank

Top Colorado Loan Originator

www.ColoradoHomeLoanTeam.com

Financing Your Dream

www.FHAHomeLoansApproved.com

Colorado Statewide

Colorado Springs, CO 80920

877-251-9709

Colorado Home Owners Refinance Your Home Loan Under The FHA Streamline Program and Save $1000's on Your Mortgage

Why Denver FHA Loans For Colorado Residential Real Estate Home Buyers Are Fantastic Loans

Your FHA Home Loan & Mortgage Guide

by Kevin Guttman
Sr Mortgage Banker
Top Denver &Colorado FHA Home Loan Originator
Colorado Springs
877-251-9709
www.ColoradHomeLoanTeam.com

FHA insured loans...are a type of Federal Assistance and have historically allowed lower to middle income Americans to borrow money for the purchase of a new home, or for the refinance of an existing mortgage loan, that they would not otherwise be able to afford. The Federal Housing Administration (FHA) was originally established in an effort to provide much needed support, and resources to a crippled and struggling housing market devastated by the Great Depression. In 1934, in a response to the ongoing economic calamity of depressed economy, Congress passed The National Housing Act, which amongst other things, created the FHA, to primarily increase home construction, reduce unemployment, and operated various loan insurance programs. In the eighty (80) years since, the FHA has been a popular choice for home-buyers and home-owners, especially during times of economic recession, and weak housing markets. 
Get The Insider Secrets To Saving Thousands On Your New Denver Colorado Home FHA Mortgage

The FHA has continued to serve its primary purpose of supporting homeownership in the United States, by being the most popular choice for potential home-buyers and home-owners during the first few years of the Great Recession of 2008 – 2009, and peaking in 2010, during a time when most other options to finance a home, either went away completely, or constricted to a point, that only a small percentage of borrowers would be eligible. One point of common confusion is that many believe that FHA is a mortgage lender, but in actuality, FHA only provides mortgage insurance on loans made by FHA-approved mortgage lenders throughout the United States and its territories. 


Therefore, Colorado Homes & Denver FHA does not make loans directly – it only insures loans made by private Colorado mortgage lenders to Denver homebuyers and guarantees those loans in case of default. Therefore, any losses are at the expense of the American Taxpayer, and according to the Government Accountability Office, U.S. Taxpayers (through FHA) guaranteed nearly $350 Billion in mortgage insurance from 2008 through 2012 alone. The most common reason potential home-buyers end up using an FHA insured loan when purchasing a new home, or current home-owners end up using an FHA insured loan when refinancing their home, is because there’s simply no other choice usually because of the following examples: 
Get Pre-Approved For Your FHA Denver Colorado Home Loan Here

Denver Colorado Home Borrower FHA Requirements

• Owner Occupied only – borrower must live in the home as a primary residence
• Minimum 580 Credit Score
• Full income / asset documentation only – W-2 and/or tax returns
• 3.5% minimum down-payment
• No minimum borrower contribution required – 100% down payment can be gift
• Approved down-payment buyer assistance can be used up to 100% combined loan to value
• Maximum 46.99% front end, 56.99 back end debt to income ratio with automated underwriting approval

Down-Payment Assistance: 
In most cases, Colorado Real Estate home FHA insured loans are the only loans that allow for a prospective home-buyer to utilize an approved Non-Profit or Government Down-Payment Assistance Homeownership Program. While there are a handful of Conventional Mortgage Loans that will allow for DPA’s, since FHA’s down-payment requirements are less than their Conventional counterparts, it’s simply not as easy to obtain the assistance needed when using a Conventional Mortgage Loan. 

Call Kevin Guttman at 877-251-9709 for your free FHA home loan consultation
or go to www.FHAHomeLoansApproved.com

Colorado Home Loan Team
Colorado Springs, CO 80920
877-251-9709
www.ColoradoHomeLoanTeam.com

Crucial Facts About Thornton Colorado FHA Home Loans

In the wake of the housing bubble's collapse, FHA loans have taken on renewed importance for today's mortgage borrowers.

Simply stated, an FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.

Because of that insurance, lenders can -- and do -- offer FHA loans at attractive interest rates and with less stringent and more flexible qualification requirements.

Following are facts all buyers should know about FHA loans.

Less Than Perfect Credit Is Ok

In Thornton Colorado, the minimum credit scores for FHA loans depend on the type of loan the borrower needs, according to the FHA, but scores should be 580 or better.

Those with credit scores between 500 and 579 are limited to borrowing 90 percent loan-to-value.

A credit score of 500 or less generally means you won't be eligible.

The FHA will make allowances under certain circumstances for applicants who have what it calls "nontraditional credit history or insufficient credit" if they meet requirements. Ask your FHA lender or an FHA loan specialist if you qualify.

www.FHAHomeLoansApproved.com

Closing Costs May Be Covered

The FHA allows home sellers, builders and lenders to pay some of the borrower's closing costs, such as an appraisal, credit report or title expenses.

For example, a builder might offer to pay closing costs as an inducement for the borrower to buy a new home.

Lenders typically charge a higher interest rate on the loan if they agree to pay closing costs. Borrowers can use the good faith estimate of closing costs -- commonly known as the GFE -- to compare interest rates and closing costs on different loans and figure out which option makes the most sense.

To learn more about FHA-backed loans and other mortgages, 
go to www.coloradoHomeLoanTeam.com

Apply on line here

Brought to you by

Kevin Guttman, Sr. Mortgage banker

Top Colorado home Loan Originator

Financing Your Dream

877-251-9709

www.ColoradoHomeLoanTeam.com