Parker Colorado Home Loans
Local Parker Colorado Lender
At New Way Financial, we specialize in helping people manage their finances with an eye toward building wealth and reaching financial goals. One of the most common goals for our clients is achieving home ownership. We can help you obtain Colorado home loans by determining the perfect loan for your situation, all in a stress-free manner.
We understand every type of loan available in the Colorado marketplace, including first-time home buyer programs. We also have ideas for making the most of home equity for those who already own a home.
We specialize in helping you find the perfect home loan — call today.
At New Way Financial, we specialize in helping people manage their finances with an eye toward building wealth and reaching financial goals. One of the most common goals for our clients is achieving home ownership. We can help you obtain Colorado home loans by determining the perfect loan for your situation, all in a stress-free manner.
We understand every type of loan available in the Colorado marketplace, including first-time home buyer programs. We also have ideas for making the most of home equity for those who already own a home.
VA Home Loans
At New Way Financial, we take pride in our ability to find just the right VA Colorado home loans for our clients. The U.S. Dept. of Veterans Affairs (VA) guarantees a portion of the loan for active-duty military, eligible veterans, and some surviving spouses.
Some of the loan requirements for VA home loans include:
- VA Cash-Out Refinance Loan: This type of loan allows you to refinance a current home loan to receive cash from your home’s equity. The original loan does not have to be a VA home loan.
- VA Interest Rate Reduction Refinance Loan (IRRRL): You can refinance your current VA home loan with a VA IRRRL. If your original VA mortgage has a high interest rate, an IRRRL allows you to receive a lower interest rate that reduces monthly payments.
- VA Purchase Loan or Construction Loan: This type of loan is the main option for buying an existing home. A new home buyer may use this loan to build a home. You could potentially remodel an existing home, too.
- No down payments (in many cases)
- No private mortgage insurance requirements
- Lower interest rates
- More lenient credit requirements
- Lifetime benefits
- Limited closing costs
These loans are available to those who qualify for VA benefits, including veterans, servicemembers, and their families. If you’re thinking of buying a house and you qualify for VA benefits, VA home loans are worth exploring. We can help you understand your options and find the best terms for your home loan.
Colorado First-Time Homebuyer Assistance Program
First-time home buyers in the state of Colorado have some options for obtaining home loans that aren’t available to current homeowners. At New Way Financial, we help you understand all your options in this regard, especially those that may save you some money.
The Colorado Housing and Finance Authority (CHFA) offers a handful of programs for new homeowners who meet certain criteria. They are as follows:
- FirstStep: First-time home buyers in CHFA-targeted areas can receive a 30-year mortgage with down payment assistance when purchasing a home.
- HomeAccess: Someone who has a permanent disability or is the custodial parent of a person with a permanent disability may qualify for this 30-year mortgage.
- SectionEight: If you are receiving Section 8 assistance, this type of loan may fit your needs well.
- SmartStep: The SmartStep program involves 30-year VA, FHA, and USDA mortgages with down payment assistance.
Let our team study your situation and help you find the right CHFA program to fit your needs.
Home Equity Line of Credit (HELOC)
VA construction loans could help you fund a new home construction. These short-term VA home loans have no down payment or private mortgage insurance requirements.
When your home is complete, your loan can become a mortgage. This is a great benefit for veterans looking to build their own home.
ITIN Loans
An Individual Taxpayer Identification Number (ITIN) loan is a type of Colorado home loan for people without Social Security numbers (SSNs). Most mortgages require SSNs in the application process, but non-residents and non-citizens of the United States will not have SSNs.
The Internal Revenue Service (IRS) can issue an ITIN for such individuals. When applying for a home loan without an SSN, the applicant would use the ITIN instead to qualify.
The ITIN loan is useful for buying a home, but it can also be used to invest in commercial or rental property.
Some aspects of obtaining an ITIN Colorado home loan can be challenging for applicants, such as the following:
- Lack of a credit score
- Minimal credit history
- Proof of past employment, even if it’s not in the United States
- Proof of assets, even if they are foreign-based
The team at New Way Financial has experience helping people successfully follow the ITIN home loan application process.
Contact Us Today for Help With Colorado Home Loans
To learn more about the Colorado home loans that perfectly fit your current financial situation, call New Way Financial today at (720) 973-1490 today or click the button below.