Finding a mortgage loan in Colorado tougher than you thought? Tired of WebPages that don’t help you find what you are looking for? That is why Mortgage-Info.us is here. Whether you are looking for lenders, Mortgage Rates, or Mortgage Brokers – we’ve got it. Plus when you fill out a custom mortgage quote form from Mortgage-Info.us, you will get offers from 2-4 different lenders competing for your business. That means you will get the best rate based on your current situation.
Featured Mortgage Lenders in Colorado
Colorado Mortgage Quick Facts
Colorado State Population: 4,601,403
Median Colorado Home Price: $166,000
Colorado Home Ownership Rate: 67.3%
Types of Mortgage Loans Available in Colorado:
- Fixed Rate Mortgage Loan
- Adjustable Rate Mortgage Loan
- Interest only Mortgage Loans
- LIBOR Mortgage Loans
- Cash Out Mortgage Loans
- Refinance Mortgage Loans
- Second Mortgage Loans
- Home Purchase Mortgage Loans
- Reverse Mortgage Loans
- Home Equity Loans
- Home Equity Line of Credit Loans.
How Your Credit Score Affects Your Mortgage Rate
The first step: you need to know what your current credit score is. You should compare that against the average Colorado consumer credit score which is 673. The national average credit score is 677. Your credit score will impact what your home mortgage rate could be. Historically home mortgage rates have ranged from 5% to over 13%. Lenders create their home mortgage rates by using the Federal Discount Interest Rate (FDIR) and then increase it by using an internal formula to create their own home mortgage rate. When you apply for a home mortgage, your home mortgage rate will be determined by a whole host of factors, but your credit score is a very important factor.
Colorado Mortgage State Laws
A broker is exempt from needing a license if he/she works strictly with financial institutions. A broker who works with any other clients is required by law to have a license
Organization of the Industry
The Colorado Mortgage Association does not have much control on the activities of its members. For example, the mortgage rates are determined by companies, not the CMA.
All mortgage information given to a potential buyer has to be in English and in simple language.
The Fair Housing Act and Equal Opportunity Credit Act protect potential buyers from being denied a loan, or given an unfair loan based on sex, race, religion etc.
Colorado is mainly a title theory state, which means that the property title remains with the lender until the mortgage is paid in full.
As a result, foreclosure is mainly non-judicial.
Judicial foreclosures are permitted, however, and mortgages may serve as liens.
Trust Deeds are the most popular method because their power of sale specifications make them the quickest method of foreclosure.
White Collar Crime Supervisor
Federal Office Building, Room 1823
1961 Stout Street, 18th Floor
Denver, CO 80294-1823
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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.