Getting a Mortgage

Where Do I Start?

By Jennifer Cleary with Colorado State Bank & Trust

I love getting the question: Where do I start?  I am asked this question by first time homebuyers as well as seasoned buyers.  It’s hard to know the first step in obtaining a mortgage and I enjoy guiding buyers through the home loan process.  I will ask questions such as will this property be your primary residence or second home?  How long do you plan on keeping this property?  What is a comfortable monthly payment?  How much will you put down?  What is your credit score?  Answers to these questions will start a conversation to determine the best loan for you.

There are a variety of loan programs including conventional, government, jumbo, fixed and ARMs.  Credit scores play a big role is what type of loan is best for you.  Credit scores are influenced by such factors as late payment, debt to credit ratio, total debt amount and age of accounts (the older the better).  A credit score of 740 or higher will offer the best interest rate and loan term.  There are many online resources to obtain a credit score but it’s best to allow me to pull your credit report from all three credit bureaus for a complete and accurate credit picture.

Call me to discuss your mortgage options.

Jennifer Cleary

Colorado State Bank & Trust

970-668-2200

www.loanswithjennifercleary.com

 

Our Preferred Lenders:

Colorado State Bank & Trust, Jennifer Cleary

jcleary@csbt.com

970-668-2200

www.loanswithjennifercleary.com

 

Premier Mortgage Group, Paula Ramey

pramey@pmlending.com

970-262-0555

 

Caliber Home Loans, Dick Girard

303-882-8626

Richard.girard@caliberhomeloans.com