Denver continues to be a strong market. There is a net influx of people to Colorado and Denver. Home prices have continued to rise by double digits for the last three years.
There are many types of loan programs out there, all tailored to suit the needs of the buyer. There are conventional loans with 3-20% down, some with downpayment assistance, and some have PMI. FHA loans with 3.5% down, some with downpayment assistance. Less common are VA and USDA loans but if you qualify these are excellent programs. The USDA loan is a no money down loan for rural areas. Talk to your lender and see which loan best fits you needs.
Some lenders are better than others. I highly recommend lenders who communicate swiftly and effectively. Ive had some lenders take up to 2 weeks to respond and one lender who never responded and then dropped the client. Chris Milker took on the client and saved the deal. In today's market where you need instant lender interaction, 2 weeks to respond or never is unacceptable.
I have a had tremendous success working with Chris Milker from Fairway Independent Mortgage. He is always super fast in his responsiveness and really goes the extra mile for his clients. If you want someone who is swift, thorough, and effective, Chris is your man. 303-503-5765 chrism@fairwaymc.com. Chris has saved some transactions that would have fallen by the wayside had he been an average lender.
Kelly Cito 303-520-9911 kmcito@equilane.com with Equilane has been a real star. He brokers loans and has some really great products. He got a client of mine into a solar off-grid home on a 3% down conventional loan with a 2% lender credit! He's been great with VA too. He can match or beat any rate.
Sherry Oliver has done a wonderful job with my VA clients, surprising me with how high she can get them qualified. She is really easy to work with and I highly recommend her especially for VA loans. 970-531-4700 soliver@envoymortgage.com.
Whoever you choose as your lender. Make sure they answer the phone!
Interest rates have been rising in the past few months. Rates are still historically low but if the upward trend continues it will make it more difficult and more costly for buyers.
The Denver market continues to surge:
The Denver Metro Area continues to be a major relocation destination. People from all over the country are moving to Denver. Many people are coming from Los Angeles, Dallas, Chicago and New York especially. Prices are continuing to rise year on year in double digits. Inventory is in short supply and the buying market is very competitive, especially in the lower price ranges.