Empowering you Mortgage Journey
We have loan officers in your community that thrive on helping you find the right mortgage to fit your needs. .
Explore Various Loan program options for fixed and adjustable rate mortgages.
Our mortgage calculators help you home in on your future mortgage based on options, interest rates, and more.
Get started with our secure application. It's a few quick question's that take about 12 minutes to complete.
most commonly asked mortgage questions
Pre-qualification is an initial evaluation based on information you provide to a lender. It's a quick, informal process to give you an estimate of how much you might be able to borrow. Pre-approval, on the other hand, is a more in-depth process. The lender will verify your financial information and credit, and you’ll get a conditional commitment for a loan amount. Pre-approval strengthens your offer when buying a home, as it shows sellers that you are a serious buyer.
There are several mortgage programs available, and the best one for you depends on your financial situation:
Conventional Loans: Typically for buyers with strong credit and larger down payments.
FHA Loans: Backed by the Federal Housing Administration, these are great for first-time buyers or those with lower credit scores.
VA Loans: Available to veterans and active military, these loans often come with no down payment.
USDA Loans: For buyers in rural areas, offering low or no down payment.
Discuss your situation with your lender to determine which program suits you best.
The down payment required depends on the type of loan you are pursuing. Conventional loans typically require at least 3% to 20% of the home's price. FHA loans require as little as 3.5%, while VA and USDA loans can offer options with 0% down. However, putting down more may help you secure better terms and lower your monthly payments.
The mortgage process typically takes about 20 to 30 days from the time you apply to closing. However, this timeline can vary depending on several factors such as how quickly you provide necessary documentation, the type of loan, and the current market conditions. Working closely with your lender and being proactive in submitting documents can help expedite the process.
Your interest rate is determined by several factors, including your credit score, loan type, loan term, down payment, and the current market conditions. Rates fluctuate daily, so it's important to check with your lender for the most accurate quote. Typically, higher credit scores and larger down payments result in lower interest rates.
Closing costs are fees paid at the end of the mortgage process and typically range from 2% to 5% of the loan amount. These fees cover things like the appraisal, title insurance, attorney fees, and lender charges. Your lender will provide a detailed estimate of these costs early in the process, so you know what to expect.
The amount you can afford depends on your income, debts, credit score, and how much you are comfortable paying each month. Lenders often use a debt-to-income (DTI) ratio to determine affordability. Generally, your mortgage payment, including taxes and insurance, should not exceed 28% of your gross monthly income. Lenders also look at your overall DTI, which should ideally stay below 43%.
Private Mortgage Insurance (PMI) is insurance that protects the lender if you default on your loan. It is typically required for conventional loans when your down payment is less than 20% of the home's purchase price. PMI can be removed once you build 20% equity in your home. FHA loans have their own version of mortgage insurance, which is usually required for the life of the loan unless you refinance into a different loan type.
We've been helping customers afford the home of their dreams for many years and we love what we do.
NMLS: 1314257
NMLS Consumer Access
Main Office:
9035 Wadsworth Parkway Suite 3400
Westminster, CO 80021
Phone: (720) 838-1246
Bismarck Office:
1600 E Interstate Ave, Ste 4
Bismarck, ND 58503
Phone: (701) 955-0597
Fargo Office:
1630 1st Ave N, Ste B
Fargo, ND 58102
Phone: (701) 561-8266
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