Buying your first home can be fast and easy with Houz Mortgage. We take the time to understand your needs and educate you on the process so that you are in control of making an informed decision as a new homeowner.
Starting with as little as 0% down, Houz Mortgage offers a variety of first time homeowner programs including VA, FHA, FHA 203K, Conventional, and we even have options to eliminate private mortgage insurance (PMI) entirely using PMI Edge ™.
As a new home buyer, you can start the process online, schedule a convenient appointment online with a loan advisor (virtual, phone, or in-person), or call us right now.
Free and convenient pre-approvals mean you shouldn’t be worried about finding out what you can afford and what it takes to own your first home. We leverage integrated technology to offer pre-approvals in as little as a few minutes with advanced loan analysis tools tying directly into your bank, the IRS, your employer, and credit reporting agencies automatically.
Our closing costs are already minimal, typically we charge $0 loan origination (also commonly known as points) and qualified mortgage clients can take advantage of Cost Eraser that helps eliminate title fees, taxes, homeowner’s insurance, appraisal reimbursement, and other loan related fees!
Is now the right time for me to buy a home?The decision is ultimately yours if now is the right time to buy your first home and our loan advisors are here to help educate, analyze, and guide you in making that decision. Interest rates are still very low and offsetting the higher prices of homes for the time being. However, with rates increasing and home prices also increasing waiting might be a mistake.
Buying is often cheaper than renting in the Denver Metro Area and building equity through making payments and appreciation help to build a more secure future than renting might alone. Rent does normally increase year after year. You might find a more stable and predictable payment on a fixed-rate mortgage loan as well.
What is included in closing costs?Closing Costs related to buying a home normally include fees paid for services related to processing and closing your real estate purchase. These commonly include title company fees, county recording fees, credit report fees, attorney’s fees, pest inspection fees, flood certification fees, survey fees, taxes, homeowner’s insurance, and lender fees. The fees vary depending on location, time of year you are closing, the property value, and lender you select.
Mortgage lenders must, by law, give you documents known as the Loan Estimate (LE) and Closing Disclosure (CD) that summarize your loan terms, rates, and fees and costs. These are not the same as a “Worksheet” that you may be presented by some lenders. Once a Loan Estimate is issued your mortgage lender must remain reasonably accurate to those numbers. Asking for a Loan Estimate will help ensure that you don’t get hit with surprises after you are under contract for your new home or at closing.
How much home can I afford?There is how much you can afford and there is how much you are comfortable with spending. Houz Mortgage advisors are interested in what you are comfortable with and not in forcing you to your maximum loan amount. You might see statistical percentages thrown around such as 28%, 32%, 42%, 45%, etc. which doesn’t really mean anything if you feel it is too much for you.
The best way to understand what you can afford is to speak with a Houz Mortgage Loan Advisor and start the conversation about what you are comfortable spending each month. We will take the time to explain the hidden costs of home ownership with you unrelated to a mortgage loan so that you can feel confident and prepared in your choice.
What if I have credit problems or need credit repair?Credit problems affect many people and it is nothing to be ashamed of, we can help. We often work with clients 3 months to 3 years while actively helping them on the path to owning a home. We never advise clients to engage with risky credit repair companies that use deceptive tactics to simply boost FICO scores. Instead, Houz Mortgage Loan Advisors will perform an in-depth credit analysis reviewing your scores, payment history, blend of credit, balance ratios, trended credit data, and only then will make suggestions and help connect you with trusted and professional mortgage credit repair advisors based on your individual needs and goals.
