Types of Mortgage Home Loans in Denver
There are several types of home loans. The focus of all of what we do at US Mortgages here in Denver can be boiled down to one question: How we can help you and your family reach your goals?
What kinds of Conventional Loans do we offer?
Conventional loans are defined as any loan that is not backed by the government. Insofar as that goes, we offer Fixed Rate Loans at the standard 15 Year, 20 Year, 25 Year, and 30 Year loan term length. These loans feature the same interest rate throughout the life of the loan. In contrast to the many types of mortgage loans in Denver, we offer an Adjustable Rate Mortgage type of loan. This features a lower fixed introductory rate, then their interest rates fluctuate on a schedule based on the current market rate. One specialized kind of loan that we offer is the Jumbo Loan. These require high quality credit because as the namesake implies, the amount of the loan is significantly higher than most conventional loan limits.
What Government Backed loans does US Mortgages offer?
One of the most common government backed loans we offer is the Federal Housing Administration Loan, or FHA loan. These were designed with less rigorous credit, LTV and income to debt ratio needs and are guaranteed by the Federal Housing Administration. These are offered on a 15, 20, 25 and 30 Year Loan Term Length Basis. We also offer Veterans Affairs (VA) Loans to military servicemen and servicewomen as well as their families, also on a 15, 20, 25 and 30 Year Loan Term Length basis as well. These loans are guaranteed by the US Department of Veterans Affairs, and can have you in a Colorado home for as little as $0 down payment. One of the less common but very valuable government backed loan we offer is the United States Department of Agriculture Loan, or USDA Loan. These loans are a great fit for rural homebuyers and incentivize rural home buying by offering an option of no down payment.
Learn more about the home loan types we offer here in Denver by letting us know your contact information. We'll give you a call as soon as we can to see if we can help you and your family meet your financial goals.