How can I apply?
Easy, like a piece of cake. Simple click on this link and you should be able to start your on-line application in minutes.
Is my information safe on your on-line application page?
Yes indeed, any informations entered on our application page is 100% secure. We work with the best companies in the security industry. You can double check by looking at that green lock box next to the address bar on our application page. Or check the images below showing our security system on our application page.
Can I apply in person?
Of course, however our loan officers are only available by appointment. Please use the Contact Form to request an appointment and one of our loan officer will reach out to you within 24h to schedule a time for you to stop at our office. The best and fastest option is to start your application on-line.
How long it takes to know if I’m approve or not?
You can get an answer within 24h. We can get you Pre-approve the same day.
Why should i work with your company?
We are local, good at what we do and can get you approve in less than 24h. Compare to your traditional Mortgage companies, we are a Mortgage Broker company, which mean we work with many lenders and can shop around for the best rate in the market. You need a mortgage company that involves you in the process every step of the way. During your loan process we keep you updated of every phase in your loan. You will never be in the dark as to where the loan is at and how much longer your loan will take to be approved. With all the changes in the home lenders market going on, We have the most streamline approval process which we constantly tweak to get you approved fast. We want you to feel so happy with your experience with us, that if a friend asked you who you trusted to finance a home, you would think of us. Depending on your situation, location of interest, and financial status, you might be eligible for one of many first time home buyer programs. Let us review your situation to see if you apply for one of these mortgage assistance programs. Just Apply on-line in minutes.
My credit is not that good, do you think i can get approve?
At 303homefinancing, we believe everyone deserve a dream home. Your credit doesn’t have to be the reason why you can’t get a loan. Some lenders are ok with a credit less than perfect or average. Each lender has its own credit requirement and you may be surprise to find that you can get approve despite your credit status. Working with many lenders give us the opportunity to find a more flexible lender that can approve you base on your credit report. We also have the best tools in the market to guide you on how to improve your credit score so you can get that approval. We do care about you enough to be on your side from start to finish. We do not judge, instead we are here to listen and help you.
I filed for Bankruptcy, had some accounts in collections, foreclosed my last house, can i still get approved?
You don’t have anything to lose, so let’s just try and see what we can do for you.
Can i add a co-applicant?
Yes, you can.
I don’t have a real estate agent, can you help me find one?
We work with most of the best Realtors in Colorado. You do not need to start your home shopping alone. You can trust our qualified Real Estate Brokers. Once you get approve, they will be ready to help you find your dream house. They are highly trained Realtors. Finding the perfect house can take forever if you don’t have a good Realtor. Our team of Realtors understand your needs and will help you with your search. They are very good at listening and will also help with all your closing documents once under-contract. Finding the right house is what they do. They is no fees for you to use this service. Whether you get your loan from us or not, our team of Realtor can still help you find your dream house. They are the best in the market and have enough experiences to help you find your dream house. Feel free to contact us to set up an appointment. One of our brokers will contact you ASAP. They will treat you right. Trust us, You won’t regret it.
Can I still apply if i have a bad credit?
At 303HomeFinancing, we understand not everyone has perfect credit. Things happen in life that can affect your credit score. However, it should not be the reason to stop you from getting your dream home. Credit issues? We work with the best lenders in the market. Whether you had a recent Bankruptcy, some accounts in collection, a past Foreclosure, a few late payment, we got you covered. It will not be a problem for us. We have helped people with similar situations. We can do the same for you. Most of our lenders can get you approve with no minimum credit score. If for any reasons you need to fix something on your credit, other Lenders will denied your application without telling you the real reason or without guiding you on how to fix the issue. At 303homefinancing, we are here from start to finish. We do not see you as a number, instead as a person needing help getting his/her dream home. All you have to do is apply and you will be amaze at what we can do for you. Let us help you! You will be glad you did.
Are your rates competitive?
Everyone wants to be treated fairly when financing a home. At 303homefinancing, our policy is to be 100% transparent and honest when presenting you with the best home loan options for your situation. We don’t hide any fees or costs associated with your mortgage from you. This allows you to choose the best loan without worries. We work with the best lenders in the industry to make sure you can get approve fast while getting the lowest rate possible. We clearly understand how stressful it can be to find a loan. Customer service is our number 1 priority. Making you happy is our goals. Apply now to check our lowest rate in the market. One thing you can be sure we will not give up until we can get you approve. Our network is big enough to find a lender that can help you pay for that house. We want to make your shopping experience as easy as possible. You can seat home, relax, drink a coffee and let us do the hard job. That’s what we do.
I’m not ready to apply and pull my credit, how can i get more info?
It easy, just send us an email or use or submission form and one of our loan officers will be happy to reach out to you.
It's generally a good time to refinance when mortgage rates are 2% lower than the current rate on your loan. It may be a viable option even if the interest rate difference is only 1% or less. Any reduction can trim your monthly mortgage payments. Example: Your payment, excluding taxes and insurance, would be about $770 on a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment would then be $700, now you're saving $70 per month. Your savings depends on your income, budget, loan amount, and interest rate changes. Your trusted lender can help you calculate your options.
A point is a percentage of the loan amount, or 1-point = 1% of the loan, so one point on a $100,000 loan is $1,000. Points are costs that need to be paid to a lender to get mortgage financing under specified terms. Discount points are fees used to lower the interest rate on a mortgage loan by paying some of this interest up-front. Lenders may refer to costs in terms of basic points in hundredths of a percent, 100 basis points = 1 point, or 1% of the loan amount.
Yes, if you plan to stay in the property for a least a few years. Paying discount points to lower the loan's interest rate is a good way to lower your required monthly loan payment, and possibly increase the loan amount that you can afford to borrow. However, if you plan to stay in the property for only a year or two, your monthly savings may not be enough to recoup the cost of the discount points that you paid up-front.
The annual percentage rate (APR) is an interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated note rate or advertised rate on the mortgage, because it takes into account points and other credit costs. The APR allows homebuyers to compare different types of mortgages based on the annual cost for each loan. The APR is designed to measure the "true cost of a loan." It creates a level playing field for lenders. It prevents lenders from advertising a low rate and hiding fees.
The APR does not affect your monthly payments. Your monthly payments are strictly a function of the interest rate and the length of the loan.
Because APR calculations are effected by the various different fees charged by lenders, a loan with a lower APR is not necessarily a better rate. The best way to compare loans is to ask lenders to provide you with a good-faith estimate of their costs on the same type of program (e.g. 30-year fixed) at the same interest rate. You can then delete the fees that are independent of the loan such as homeowners insurance, title fees, escrow fees, attorney fees, etc. Now add up all the loan fees. The lender that has lower loan fees has a cheaper loan than the lender with higher loan fees.
The following fees are generally included in the APR:
The following fees are normally not included in the APR:
Mortgage rates can change from the day you apply for a loan to the day you close the transaction. If interest rates rise sharply during the application process it can increase the borrower’s mortgage payment unexpectedly. Therefore, a lender can allow the borrower to "lock-in" the loan’s interest rate guaranteeing that rate for a specified time period, often 30-60 days, sometimes for a fee.
Below is a list of documents that are required when you apply for a mortgage. However, every situation is unique and you may be required to provide additional documentation. So, if you are asked for more information, be cooperative and provide the information requested as soon as possible. It will help speed up the application process.
If self-employed or receive commission or bonus, interest/dividends, or rental income:
If you will use Alimony or Child Support to qualify:
If you receive Social Security income, Disability or VA benefits:
Source of Funds and Down Payment
Debt or Obligations
Credit scoring is a system creditors use to help determine whether to give you credit. Information about you and your credit experiences, such as your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, and the age of your accounts, is collected from your credit application and your credit report. Using a statistical program, creditors compare this information to the credit performance of consumers with similar profiles. A credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points -- a credit score -- helps predict how creditworthy you are, that is, how likely it is that you will repay a loan and make the payments when due.
The most widely use credit scores are FICO scores, which were developed by Fair Isaac Company, Inc. Your score will fall between 350 (high risk) and 850 (low risk).
Because your credit report is an important part of many credit scoring systems, it is very important to make sure it's accurate before you submit a credit application. To get copies of your report, contact the three major credit reporting agencies:
Equifax: (800) 685-1111
Experian (formerly TRW): (888) EXPERIAN (397-3742)
Trans Union: (800) 916-8800
These agencies may charge you up to $9.00 for your credit report.
You are entitled to receive one free credit report every 12 months from each of the nationwide consumer credit reporting companies – Equifax, Experian and TransUnion. This free credit report may not contain your credit score and can be requested through the following website: https://www.annualcreditreport.com
Credit scoring models are complex and often vary among creditors and for different types of credit. If one factor changes, your score may change -- but improvement generally depends on how that factor relates to other factors considered by the model. Only the creditor can explain what might improve your score under the particular model used to evaluate your credit application.
Nevertheless, scoring models generally evaluate the following types of information in your credit report:
Scoring models may be based on more than just information in your credit report. For example, the model may consider information from your credit application as well: your job or occupation, length of employment, or whether you own a home.
To improve your credit score under most models, concentrate on paying your bills on time, paying down outstanding balances, and not taking on new debt. It's likely to take some time to improve your score significantly.
An Appraisal is an estimate of a property's fair market value. It's a document generally required (depending on the loan program) by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property. The Appraisal is performed by an "Appraiser" typically a state-licensed professional who is trained to render expert opinions concerning property values, its location, amenities, and physical conditions.
On a conventional mortgage, when your down payment is less than 20% of the purchase price of the home mortgage lenders usually require you get Private Mortgage Insurance (PMI) to protect them in case you default on your mortgage. Sometimes you may need to pay up to 1-year's worth of PMI premiums at closing which can cost several hundred dollars. The best way to avoid this extra expense is to make a 20% down payment, or ask about other loan program options.
Surprising as it may seem, some folks with hefty incomes find that it’s mighty tough for them to save enough money to make a 20% cash down payment on their dream homes. Using conventional financing, such buyers must purchase Private Mortgage Insurance (PMI) which increases the cost of home ownership and, ironically, makes it even more difficult to qualify for the mortgage. However, if you’re a dues-paying member of the cash-challenged class, don’t despair. Given that your income is sufficiently high, it’s eminently possible to avoid getting stuck with PMI. That is why 80-10-10 financing was invented. It is called 80-10-10 because a savings and loan association, bank, or other institutional lender provides a traditional 80% first mortgage, you get a 10% second mortgage, and make a cash down payment equal to 10% of the home’s purchase price. By using this method, you are no longer obligated to take out PMI on your property.
The same principle applies if you can only afford to make a 5% down, 80-15-5 financing is also available. However, because a smaller cash down payment increases the lender’s risk of default, do not be surprised when you are asked to pay higher loan fees and a higher mortgage interest rate for 80-15-5 than you pay for 80-10-10.
The property is officially transferred from the seller to you at "Closing" or "Funding".
At closing, the ownership of the property is officially transferred from the seller to you. This may involve you, the seller, real estate agents, your attorney, the lender’s attorney, title or escrow firm representatives, clerks, secretaries, and other staff. You can have an attorney represent you if you can't attend the closing meeting, i.e., if you’re out-of-state. Closing can take anywhere from 1-hour to several depending on contingency clauses in the purchase offer, or any escrow accounts needing to be set up.
Most paperwork in closing or settlement is done by attorneys and real estate professionals. You may or may not be involved in some of the closing activities; it depends on who you are working with.
Prior to closing you should have a final inspection, or "walk-through" to insure requested repairs were performed, and items agreed to remain with the house are there such as drapes, lighting fixtures, etc.
In most states the settlement is completed by a title or escrow firm in which you forward all materials and information plus the appropriate cashier's checks so the firm can make the necessary disbursement. Your representative will deliver the check to the seller, and then give the keys to you.