Your Questions About Mortgage Rates Colorado

Susan asks…

What are some lenders with the lowest mortgage rates for Colorado?

I am looking for a FHA 30 fixed loan and want some lenders with the lowest rates. It is usually around 6% but if you have a lender that can offer lower I want to know. Please only Colorado lenders because each state has different laws.

admin answers:

Unless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every monthcompanies offer different interest rates so it is a good idea to shop around for the best deal before settling on one particular lender.

Sandy asks…

What is the lowest mortgage rate in Colorado right now?

I have a great credit score of about 780, I am a first time buyer making about $55K/yr, and the loan will be for about 215,000, 30yr fixed. I’ve been working through a financial planner who claims to have relationships with all the big banks, and he told me last night the best is 5.75, and I think he charges one point at closing. Any advice would be great!

admin answers:

After looking at the all the major players and searching for the lowest rate the best i see 30yr fixed is 5.50 without having to buy down the rate.

A 10 year ARM is coming in at 5.375%
i dont recomend going below a 7yr ARM this gives you a low rate and flexability down the road without a huge risk!

Many fanancial planners are brokers i would at least look at other offers to see who gets you the absolute lowest rate without buying down the rate!

Ken asks…

in colorado the highest intrest rate you pay on a auto loan is 22% is there a limit on fixed rate mortgage?

admin answers:

Mortgages are priced a lot differently than car loans – even if the highest allowed rate was only 9%, that would make the monthly payment $100’s more per month than a 5.5% mortgage and probably put you over the eligibility level

Chris asks…

QE2 and mortgage rates?

I have a home being built in Northern Colorado. But won’t be closing until late Feb/early Mar. I can lock 30-60 days out. With the news of QE2 I have seen countless articles saying this should drive down rates possibly even further short term, but drive them up long term. But what is “short term”? Am I in trouble if I cannot lock until after the first of the year?

admin answers:

Everyone thinks rates will go down – which means they will go up.

Jenny asks…

what is the going rate for a 30 yr fixed mortgage in colorado with 10 % down?

admin answers:

Best bet call a local loan officer, it all depends on the lender and numerous other things. There is no correct answer to the question.

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