How much do you earn?
Have you managed your debts in a credit worthy manner?
How much cash or liquid assets do you have to put towards your purchase?
Do you have excess debts, such as car loans and credit card debt, which limit the monthly mortgage payment you're able to make?
This is a partial list. Additional documentation may be needed
based on your particular situation.
For the most up-to-date mortgage rates, please call us at 720-279-5939.
To help you calculate your monthly payments, ALMC Mortgage at NOVA Home Loans has made two mortgage calculators available. Use the basic calculator to estimate your monthly mortgage payment.
Taxes, insurance and/or other obligations may continue.
Pay Down the Principle Balance of Your Mortgage
By paying a little extra on your monthly mortgage payment, you will significantly reduce the amount of interest you pay over the life of a loan. Roughly, two extra payments a year can reduce a 30-year loan to an 18-year loan. Use this tool to reduce the finance charges on your mortgage and start to realize the savings immediately.
Consolidate Debt with a Mortgage Loan
Borrowers who qualify can combine credit cards, auto loans, and consumer credit account balances into a new mortgage loan and reduce their overall monthly expenses. This type of consolidation loan also allows borrowers to lower their overall interest rates and deduct the interest on the mortgage loan (in most cases).