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I would like to save money on my current home loan.

REFINANCE

It's important that my interest rate stays the same.

FIXED RATE

I'm at least 62 years old and have equity in my home.

REVERSE MORTGAGE

Refinance – I wish I could save money on my current home loan.

Lower interest rates can make refinancing your existing mortgage loan in Denver, CO, a viable option. In the big scheme of things, refinancing can free up additional funds so you can stop spending and start saving.

Consider refinancing your current mortgage if:
• Your monthly mortgage savings will be less than the cost to refinance
• Your credit score is higher than when you took out your initial loan

Check out your refinancing options by getting in touch with a Fairway Refinance Mortgage Professional today.

Fixed Rate – It’s important that my interest rate remains the same.

Fixed rate mortgages carry a consistent interest rate throughout the entirety of the loan. On average fixed rate mortgages last for 15 or 30 years.

Consider a Fixed Rate Mortgage if:
• You need stability in your mortgage payment
• You plan on being in your home for a long period of time

Take advantage of current interest rates by getting in touch with a Fairway Fixed Rate Mortgage Professional today.

Reverse Mortgage – I’m at least 62 years old and have equity in my home.

Reverse mortgages differ from traditional mortgages for several reasons. One, there is no monthly payment. Two, reverse mortgages are specifically for senior homeowners who owe little to no money on their current mortgage. Three, reverse mortgages are based upon home equity. Although there are no monthly mortgage payments, borrowers are still liable for property taxes and insurance.

Reverse Mortgages Are:
• A way to transform home equity into cash
• Diverse in payout options

Consider A Reverse Mortgage If:
• You’re a senior who needs additional money to cover living expenses, healthcare, etc.
• You are looking for a way to help your senior parent with their finances
• You are a caregiver, attorney or financial planner

Act now and speak to a Fairway Reverse Mortgage Specialist to determine which reverse mortgage loan in Denver, CO, payout is right for you.

Disclaimer: Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. Must be at least 62 years old. Loan proceeds are not considered income and will not affect Social Security or Medicare benefits. Your monthly reverse mortgage advances may affect your eligibility for some other programs. Consult a local program office or your attorney to determine how, or if, monthly reverse mortgage payments might affect your specific situation. At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to you and you may need to sell or transfer the property to repay the proceeds of the reverse mortgage with interest from your assets. We will charge an origination fee, a mortgage insurance premium, closing costs or servicing fees for the reverse mortgage, all or any of which we will add to the balance of the reverse mortgage loan. The balance of the reverse mortgage loan grows over time and interest will be charged on the outstanding loan balance. You retain title to the property that is the subject of the reverse mortgage until you sell or transfer the property and you are therefore responsible for paying property taxes, insurance, and maintenance. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately. Interest on reverse mortgage is not deductible to your income tax return until you repay all or part of the reverse mortgage loan.

I have a small down payment.

FHA

I have money saved for a down payment.

CONVENTIONAL

I want to buy a home priced over $417,000

JUMBO

FHA – I have a small down payment.

FHA loans are backed by the Federal Housing Administration. FHA loans are often great options for first time home buyers.

FHA Loans Are:
• Easier to qualify for
• Backed by the Federal Government

Consider An FHA Loan If:
•You are a first time homebuyer and have little to no money for a down payment
•You’re in the market to refinance a current mortgage loan

Talk to a Fairway Mortgage Professional to learn about available down payment assistance programs.

Conventional – I have money saved for a down payment.

Conventional mortgages aren’t guaranteed by the government and have interest rates that are either fixed or adjustable. Since conventional mortgages aren’t backed by the government, they do require higher down payments, but in turn provide a wider range of options.

Consider a conventional mortgage if:
• You’re interested in a property ineligible for FHA financing
• You need financing on an investment property or a second home

To find out if a conventional mortgage loan in Denver, CO, is right for you, contact a Fairway Conventional Loan Professional today.

Jumbo – I want to buy a home priced over $417,000.

Jumbo loans cover homes that cost over $417,000. There is no mortgage insurance associated with jumbo loan financing.

Jumbo Loans Require:
• Higher down payments
• A higher qualifying credit score versus other mortgage loans

Consider A Jumbo Loan Mortgage If:
• You’re wanting to buy a luxury home exceeding $417,000
• You’re wanting to finance a vacation home
• You’re looking to purchase an investment property

You’re just a few steps away from your dream home. Contact a Fairway Jumbo Loan Professional today.

I don't plan on living in my home for very long.

ARM

I actively serve or have served in the military.

VA

I'm going to live in a remote area.

USDA RURAL

ARM – I don’t plan on living in my home for very long.

An adjustable rate mortgage, also known as an ARM, is a mortgage with an interest rate that changes.

ARM Mortgages Are:
• Appealing because of their significantly low introductory payments
• A way to qualify for a higher mortgage amount, which equals more buying power in today’s competitive real estate market

Consider Adjustable Rate Mortgages If:
• You are determined to sell your home prior to loan reset
• You need to qualify for a larger mortgage

Unsure if an ARM loan is right for you? Talk to a Fairway Adjustable Rate Mortgage Professional today.

VA- I actively serve or have served in the military.

Approved by private mortgage lenders, VA loans are guaranteed by the Department of Veterans Affairs.

VA Loans Are:
•Financed 100% without mortgage insurance
•Required to charge a VA funding fee
•VA funding fees help to keep the VA loan program thriving for both purchase and refinance loans

Consider A VA Loan If:
•You are currently serving in the military including the National Guard and reserve
•You are a veteran
•Your spouse died during active military duty or a disability tied to a service related injury

To get started, obtain your certificate of eligibility* from the Department of Veterans Affairs and contact a Fairway Loan Professional.

USDA Rural – I’m going to live in a remote area.

USDA loans are a gateway to home-ownership for those who prefer to live outside the hustle and bustle of big cities and find their way in small towns or rural pastures. USDA Loans are backed by the United States Department of Agriculture, they’re only offered under fixed rate terms and provide 100% financing. Please note, that mortgage insurance is required with USDA loans.

Consider a USDA mortgage loan in Denver, CO, if:
• You want to live in a rural area
• You don’t have money for a down payment

Don’t miss out on your opportunity to participate in this amazing program. Get in touch with a Fairway USDA Loan Professional today.

CONTACT US

Phone: (720) 634-0522
Fax: (866) 521-4015

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