Home Financing

Denver Home Loan Financing

There’s a lot to consider when applying for a home loan and at 5280Lend we can be your “Tour Guide.”  You will find that it is helpful to have expert guidance to put all the pieces of this financial and logistical puzzle together in an effective way. Here are some of the factors you need to consider when applying for your loan, and some of the ways they work together:

Interest Rates

Interest rates seem to be the most important number that people think about when they start investigating mortgage options. This is usually because it is one simple number that allows loans to SEEMINGLY be compared easily. Don’t let that fool you! There are, in fact, other factors to consider in your comparing loans and mortgage lenders that will offer you these loans. Closing costs, Adjustments in interest rates (ARMs), other loan terms and factors involved in your qualification are all very, very important items to consider in your comparison and investigation.

There are a lot of factors that go into determining your interest rate and having an experienced and reliable lender to explain those things to you is CRITICAL. Our goal at 5280Lend is to make sure that you get ALL of what you want and that you understand the rationale behind it.

Down Payment

There’s a lot to think about when deciding on your down payment—that is, the amount of money you’ll pay upfront toward the purchase of your home. Of course, the amount of your down payment will be subtracted from the total price of the home when determining the amount of your mortgage. Of course, it helps if you have a huge bank account with massive quantities of savings! Most of us, however, are not so lucky. So how much should your down payment be and where can you get funds if they aren’t just sitting in your huge bank account?

The good thing is that there actually are a lot of options when it comes to down payment and we can help you design a plan that will get you where you want to go.  Here are just a handful of potential sources of down payment money:

Closing Costs

Closing costs are another subject that can be very complicated and confusing when comparing and investigating mortgage loans. Generally speaking, the mortgage industry tends to over-complicate these things intentionally to keep you on your heels. There are lots of different, ambiguous names for certain costs and it can create frustration.Origination Fees, Discount Fees, Broker Fees, Appraisal Fees, Underwriting Fees, Processing Fees, Title Charges, Escrow Deposits, Earnest Money are just a handful of the names assigned to items that can overwhelm even the most experienced real estate buyer.

At 5280Lend our job is to simplify these things for you and put your mind at ease so you can focus on matters more relevant to your life and your new home!