Adjustable Rate Mortgage in Denver

Adjustable Rate Mortgage in Denver

Adjustable Rate Mortgages or ARM Loans offer low introductory interest rates to Denver homeowners. Learn more about the benefits and drawbacks of ARM Loans below.

What are some of the advantages of ARM Mortgages in Denver?

Adjustable rate mortgages are ideal for people at less risk of defaulting on their loan in the event of market instability, such as short-term homeowners, or for those expecting to pay their mortgage incredibly quickly. The biggest advantage to ARM rates from US Mortgages in Denver, Colorado is the lower rates and payments early in the loan. With a Fixed Rate Mortgage, your interest rate cannot change without refinancing the loan. Your interest rate with an ARM will vary month to month, allowing you to benefit from low interest rates without the hassle of refinancing your entire mortgage. In exchange for taking the risk that interest rates will rise, banks typically offer ARMs at lower introductory rates than fixed rate mortgages. This allows borrowers to save more money for any unexpected emergencies that may come their way. It also frees up more cash for borrowers to invest.

What are the disadvantages of Denver ARM Loans?

The most significant disadvantage to Denver ARM Loans is that rates can rise significantly over the life of the loan, depending on the market's current volatility and terms of your loan. It's essential to understand all aspects of complicated ARM Mortgage Loans before taking one on. A shift in the real estate market can drastically change your monthly payment.

However, for the confident homeowner with significant savings, or the ability to budget carefully enough to account for potential market shifts, adjustable rate mortgages can save you thousands over the term of your lease. At US Mortgages in Denver, we pledge to find you a loan that will improve your family's financial situation or we won't do the loan.

Ready to get started on your Denver ARM Mortgage from US Mortgages?

If you are looking for an ARM Loan in the Denver area, let us know how to get in touch with you online. You can also give us a call directly. If you'd like to get started on becoming prequalified for an ARM or another kind of loan, feel free to start our short form application or long form application online today!

Pre-Qualify In Minutes, With No Impact To Your Credit Score

With just some basic information, you are on your way to your new Home. In most cases, our agents will call you in a few minutes to get things started. In some rare events it could be up to 24 hours. We always try to call between 8am and 5pm MST, so we don’t disturb you after hours. If you would prefer we did call outside those ours, please just add in a note and we will be happy to oblige.

Why should I get pre approved for my home loan or refinancing?

Home loan pre approval in Denver simplifies the loan process. Preapproval allows a lender to see a full 360 degree view of the borrower's financial situation, enabling us to advise borrowers on all home loan considerations. This helps us identify which loan we offer is the best fit for the borrower. Prequalification allows borrowers to pursue the loan that's best for them and their financial situation.

How can I get ready for home loan prequalification in Denver?

Excellent question! A great place to start is by understanding what lenders look at. For the most part, lenders look at 4 things. The first is your FICO credit score which includes your payment history, credit utilization and the length of your credit history. The second is your income with respect to your monthly housing costs. The third is the number of current loans you have and their status. The fourth and final thing lenders consider is the percentage of the cost of the home you're looking to purchase that you can put as a down payment. Get ready for prequalification by understanding your status in these areas and identifying what you can do to improve them before buying a home.

About US Mortgages

US Mortgages has been securing mortgage pre approval in Denver for over 20 years. Let us know how to reach out to you, or give us a call today.

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Pre-qualification means one of our mortgage specialists will contact you. This does not represent an offer to enter into a loan agreement. Loans subject to credit and property approval. Normal credit qualifications and other terms and conditions apply. Not all loan products or terms are available in all states.