Home Mortgage and Finance

There are currently 183 blog entries related to this category.

According to Realtor.com's 2014 Housing Review, this year demonstrated a steady build-up of housing momentum - fueled by significant improvements in economic fundamentals, low mortgage rates, and compressed inventory - and is expected to carry the market into 2015 gains. 

Sounds like great news, right? Well....actually, it depends on your situation.

Top 5 Housing Predictions for 2015:

1. Millennials will drive household formations: Both population and households have grown at a slightly higher pace in 2014 and this trend will continue in 2015 with modest improvement over this year's increases. Households headed by millennials will see significant growth as a reflection of economic gains. Millennials will also drive two-thirds of household

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Yes, you read that right. Renters in Denver need to make $35 an hour to afford a median priced rental. $35 an hour is 4 times the minimum wage in Denver and is no small amount, especially for those just out of college and new to the area so it definitely caught me a little off guard.  When you think about how many apartments are being built in Denver you would think that this number would be coming down soon. But even with the influx of new rentals to the market, vacancy rates continue to fall and rental rates continue to climb. 

According to a recent article by the Denver Post, click here, the median rent in the Denver Metro area is $1,772 per month which means you would need to earn $70K a year to to abide by the rule of thumb that annual housing

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At BBVA Compass, we believe smart mortgage lending helps build strong neighborhoods and a better future. We offer many different programs which DO NOT have private mortgage insurance. We have programs for First Time Home Buyer’s, investors, 2nd home buyers, clients looking to refinance, and more. You name it... there’s a program out there to cater to each individuals needs.

One of the great loan programs we offer is our “Community Reinvestment Act” program which has no mortgage insurance, low FICO scores down to 620, fixed rate, and as little as 0-3% down, depending on the property type and area. BBVA Compass may even also pay certain closing costs (excluding discount points, interest and prepaid items) up to $4,500 (restrictions apply) on this

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There are a lot of reasons that people buy houses….some are emotional, some are logistical, and some are, of course, financial.  We thought that these 5 reasons summed up many of the best reasons for buying a house rather than renting...

1.) Housing is typically the one leveraged investment available.

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10

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It might seem counter-intuitive to list your house in the winter months, but actually there are many reasons to list and sell your property during the winter:

1. We see a measurable increase in online traffic on our Real Estate website when the weather gets cold...it makes sense, people are inside, and they are looking at properties online.  If you are thinking about selling your home anytime soon, yours should be one of them.

2. Transactions tend to run a little more smoothly in the winter months, when Realtors, Lenders and Title Company Reps are not as busy...your deal will have much more of their attention than it would get in the Spring, leading to less mistakes, faster closing times and more availability.

3. Buyers that throw on snow boots

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Have you ever walked into a house during your home search and thought, "This house would be perfect if only it had...." but then wondered how the heck you could pay for even the smallest remodel?

When buying a home you can spend most of your liquid assets on the cost of down payment as well as the cost of the move itself. What do you then do about those repairs/remodels you want to do?

Most people wait until they can save additional money. But what if you could buy that house, and add in the costs of those remodeling needs when you closed on your home, have the work done immediately? You can do all of this with an FHA 203K or Fannie Mae Renovation loan in Denver, for either a home purchase or refinance. 

FHA 203K Loan

An FHA 203k loan is a loan

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Have you ever thought about investing in Denver Real Estate? There has never been a better time to own rental properties in Denver with rental rates at an all time high, vacancy rates at an all time low and interest rates back near an all time low. While investing sounds very tempting, it can also be very intimidating and confusing. I've owned rental properties for the past 7 years in Denver so thought I might give some tips to help get you started.

First, just like every Real Estate transaction, it starts with figuring out where you are going to get the money to buy the property. If you have cash, that certainly makes it a lot easier but it is not always the best financial strategy so I always suggest speaking with a lender to get started. You can

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You read that right, interest rates have dropped to their lowest level of 2014 and are below 4% right now, thanks in part to Ebola. With the second case of Ebola in Dallas, ISIS, a weak European economy and other problems around the world, investors are pulling their money from the stock market and putting it into the bond market. When the purchase of bonds increase, the bond yield decreases and as a result, so do mortgage interest rates.

I've spoken with a lender today who has seen rates drop as much as .75% today which is unheard of. I never thought we would see rates fall below 4% again and yet they have. Do the experts think this will last? No, the US economy is still very strong and it is only a matter of time before money gets put back into the

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Although the government has backed off the purchase of mortgage backed securities, mortgage interest rates remain historically low. There have been moderate fluctuations in interest rates over the last twelve months, but the rate on a thirty year fixed, conforming loan remains in the low 4% range. This bodes well for Sellers as demand for inventory remains high. The low rates combined with affordable housing prices create the perfect buying opportunities as well.

The general consensus seems to be that it is difficult to obtain a mortgage loan in today’s environment. However, in spite of increased documentation requirements, a borrower with reasonably good credit, a two year work history and a minimum down payment of 3.5% (all of which can be a gift from

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What is the cost of waiting to buy a home in Denver these days? Working with buyers, I hear
a lot of the time, "I"m waiting to buy... to get a larger downpayment, for my lease to expire,
the timing to be right, the prices to come down, etc., etc., etc." Many of these are very valid
and real reasons and I certainly understand where buyers are coming from. However, after seeing this latest graph and stats, I feel it is my duty as an agent to let all buyers know how important it is to not wait to buy if you can manage it.

The great graph below was provided by Megan Aller with Land Title. Megan tracks the Denver Real Estate statistics better than anyone in Denver and the info she provides is always top notch and eye opening. The graph is pretty self

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