Conventional Loans

What Can You Expect from Conventional Home Loans in Denver?

If you aren’t after any specialized home loan product, don’t require special lending rates, and you’re reasonably standard in every way possible, then a conventional loan is probably going to work for you. However, to get to the point of realizing this may take professional help and weighing up your options.

When you first decide you want to buy a home, you will surely want to find out about all the options available to you. Conventional home loans in Denver are, of course, one of the most popular choices. However, if you’re not sure, there’s every reason to contact us to find out if another loan option may suit you better.

When it comes to knowing what you can expect from a conventional home loan in Denver, it’s simple:

  • Simple
  • Straightforward
  • 15 or 30-year term loans
  • Fixed rate or adjustable
  • Non-Government subsidized

If you believe a conventional loan could be the best option for you, get in touch. We can hold your hand through every step of the borrowing process until you find yourself in your new dream home.

Should I Choose Adjustable or Fixed Rate Conventional Home Loans in Denver?

Choosing a fixed or adjustable rate on your conventional home loan is entirely a personal choice. Both, in fact, can have advantages and disadvantages.

Fixed Rate Advantages:

  • You will always know what you’re paying every week
  • There are no surprises
  • You can pay more than the set amount if you prefer
  • The fixed rate can be quite competitive
  • You can end up paying far less in interest if the current adjustable rate is significantly more

Fixed Rate Disadvantages:

  • You miss out on low interest rate offers
  • You are locked in for a set period – often years
  • Can be harder to obtain than an adjustable-rate conventional home loan in Denver

Adjustable Rate Advantages:

  • Short-term lower interest payments
  • Suitable for people with less than perfect credit

Adjustable Rate Disadvantages:

  • If interest rates are high, you can end up paying significantly more than you thought you would
  • The repayment amounts can dramatically change on a month-by-month basis

Why Get Conventional Home Loans in Denver?

There are so many reasons why choosing conventional home loans in Denver is the right decision to make. While there are benefits of all the loans we offer, there has to be a reason (or many) why conventional loans are the more common and popular option in the United States – and even right here in Denver.

They’re Universal
There are several different home loan programs available to help people secure their dream home – but many come with restrictions. You must live in a particular area, meet specific criteria, and be with one particular bank. Conventional home loans, however, have very few specifications. Most lenders and banks offer them, there are very few restrictions and regulations, and even if you change providers, you will often abide by the same terms.

Insurance Can Be Cheaper

Many people dread paying insurance on home loans because it can be quite expensive. However, conventional home loans tend to have competitive insurance rates. What’s more, it’s often cheaper than for FHA loans or other Government-backed programs.

Faster Process

There’s no denying that there’s a lot of paperwork involved in home loan applications. Don’t worry – we’re here to help with that. However, if you decide a conventional home loan is for you, you may find the process is more seamless than with other loans. There is more flexibility and a shorter timeline. You may also find with other loans, there are additional steps after your home inspection, as well as document checking and fund transfers.

Great Rates and Terms for Good Credit

Conventional home loans like to reward you for having good credit. As a result, you benefit from competitive rates. However, even if you don’t have the best credit, you may still find it’s leagues ahead of what’s available elsewhere.