BEACON LENDING

FHA loans are a great option for home buyers in Denver, CO looking for financing on their primary residence. FHA mortgages offer:

• low closing costs
• low mortgage insurance
• 3.5% down payments
• flexible credit score requirements
• down payment assistance programs

VA Loans are great for those that qualify. These home loans are intended for active military and Unites States Military Veterans. National Guard and select Reserve members may qualify as well. The advantages include:

• 0% down payments
• no mortgage insurance
• limits on closing costs
• low interest rates
• financing up to 100% of the value of the home (LTV)

Conventional loans (non-conforming loans) can offer more flexibility. A conventional loan could be a great option if:

• you are considering a second home or investment property.
• you are a first time home buyer with little money for a down payment as only a 3% is needed.
• the down payment amount is at least 20% of the home value because the PMI (premium mortgage insurance) will not be needed, saving you hundreds of dollars on monthly mortgage statement.
• you have a good credit score as it can give you a better interest rate.

USDA home loans can be a great option if you are buying a home in a qualified rural area. Advantages to a USDA Home Loan include:

• a great way to purchase a home with limited resources.
• it is possible to qualify for a USDA loan with a 0% down payment.
• low closing cost options.

If you are looking to secure a home loan that exceeds the loan limits for FHA and Conventional Loans then you may be in the market for a Jumbo Loan. Jumbo loans are for:

• home loans that exceed the conventional loan limits of $510,400 (in 2020).
• you need to finance up to 90% of the home value.
• people who are self employed or need alternative ways to prove their income.

A Reverse Mortgage could be a good option for people who are over the age of 62 and:

• looking to supplement their income.
• need extra income to pay for healthcare expenses.
• want to pay off or pay down existing debts.

A mortgage refinance can be a great way to take advantage of historically low interest rates to lower your monthly mortgage payment or cash out with your existing equity. We can help with all types of home loan refinance options including but not limited to:

• Term home refinance
• Cash out refinance
• Reverse mortgage refinance
• FHA Streamline Refinance
• FHA 203K Refinance
• HARP 2.0 Refinance
• VA Streamline Refinance

The FHA 203K loan has been around since the 1970’s however the reason why you don’t hear about a lot of them being done, is either the borrower is aligned with an in-experienced loan officer, who does not want to take on the challenge of additional work and time to close, or you just don’t know about it. These loans are available when you purchase or refinance a home.