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KNOW WHAT’S
THE BEST LOAN
OPTION ARE:

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LOAN OPTIONS

  • Commercial Loans
  • First Time Home Buyer Loans
  • Reverse Mortgage
  • FHA 203k Loan
  • Conventional Loans
  • FHA Loans
  • VA Loans
  • Jumbo Loans
  • Types Of Loan Programs Fixed vs Adjustable
  • Foreign National Loans

NOT ALL MORTGAGE LOAN OPTION ARE THE SAME. THREE OPTIONS ARE THE LOAN TERM, OR LENGTH OF THE LOAN, THE INTEREST RATE TYPE, AND THE LOAN TYPE.

Knowing what sort of loan is suitable for your situation prepares you for speaking with your loan officer.

(303) 649-1245

CHOOSING THE RIGHT
LOAN TYPE

Each loan type is made for different
scenarios.

CONVENTIONAL

  • Majority of loans
  • Cost less than FHA loans but may be harder to get
Apply now

FHA

  • Low down payment
  • Available to people with lower credit scores
Apply now

VA

  • For veterans, service members, or surviving spouses
Apply now

JUMBO

  • For borrowers needing higher balance loans, normally about $424,100
Apply now

LOAN TERM

The longer your loan term, the longer you will repay your loan. Loans with terms that are shorter (15 years is common) usually have lower interest rates but higher payments than loans with terms that are longer (30 years is common).

Shorter terms will save you money but have higher monthly payments.  There are two reasons shorter terms can save you money:

  1. You are borrowing money and paying interest for a shorter amount of period.
  2. The interest rate is generally reduced–by as much as a full percentage point.

INTEREST RATE TYPE

Interest rates come in two types: fixed and adjustable (ARM). This choice impacts:

  • Whether your interest rate can change
  • Whether your monthly principal and interest payment can change
  • How much interest you will pay over the life of the loan

FIXED-RATE MORTGAGE

Your monthly payments are likely to be stable using a fixed-rate loan, so you might prefer this option if you value certainty about your loan costs. Having a fixed-rate loan, your interest rate and monthly principal and interest payment will stay the same.  Your total monthly payment can still change if your property taxes, homeowner’s insurance, or mortgage insurance varies.

ADJUSTABLE-RATE MORTGAGES (ARMS)

ARMs offer less predictability but might be more economical in the short-term.  You might wish to consider this alternative if, as an example, you want to move during the fixed period of an ARM.  In cases like this, future rate adjustments may not affect you.  If you find yourself staying in your house you might end up paying far more.  In the later years of an ARM, your interest rate varies depending on the economy, and your monthly principal and interest payment could go up a lot, even double.
Many ARMs have two periods:

  1. Your interest rate is fixed and will not change
  2. Your rate goes down and up based on market fluctuations

LOAN TYPES

Mortgage loans are organized into categories depending on the loan’s size and if they are a part of a government program. This choice impacts:

  • How much you will need for a down payment
  • The total cost of your loan, including interest and mortgage insurance
  • How much you can borrow, and the house price range you can contemplate
GET STARTED

Contact Information

PHONE: (303) 649-1245

FAX: (888) 752-8254

ADDRESS: 10700 E Geddes Ave, Suite 155 Englewood, CO 80112

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Terms and Conditions Apply. HOUZ MORTGAGE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet Houz Mortgage’s and/or investor underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Rates and Terms are subject to change at any time without notice and are subject to state restrictions. Licensed by the Colorado Division of Real Estate. Houz Mortgage loans are originated by Colorado Homesmartz, LLC DBA Houz Mortgage, NMLS # 1578407. (www.nmlsconsumeraccess.org)

Lowest rates are reserved for most creditworthy applicants; not all who apply will qualify for the top tiers. Rates and APRs are subject to change and may not be available at the time of lock or loan commitment. Interest rates are subject to potential increases over the life of the loan, once the initial fixed-rate period expires. APR for adjustable rate mortgages are subject to increase after fixed rate period and does not include 3rd party costs or prepaid interest. Please contact one of our Licensed Mortgage Loan Originators at (303) 649-1245 for a customized rate and payment quote.


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COVID-19 Update

March 12: Today, we closed Houz's Englewood office and asked everyone based there to work from home as a precaution due to COVID-19. Houz was prepared for this and is fully functioning during this time. Please do not bring any paperwork to the office and make alternative arrangements by calling (303) 649-1245 or by contacting your personal loan team until further notice.