We play a significant role in serving America’s home ownership needs. In this process, we aspire to meet and exceed your expectations by delivering specialized services to help you find the right loan that meets your specific needs. We strongly believe, that this kind of service should be the standard for excellence in the mortgage industry.
Closed in 2 weeks! We are happy that we used you again Brad. You did a great job in answering our questions and helping us decide on the best mortgage for us.Brian and Jill R. Home Buyers
Brad was so great to work with! He made everything so easy and was there to answer all of my questions. THANK YOU!!Laura S. Home Buyer
Brad Dale and his team were wonderful people to work with. At our first meeting, Brad spent more than 2 hours with us and stayed late to make sure all of our questions were answered, before we ever agreed to work with him. He explained the process in detail, educating and making us feel comfortable with our decision-making process. He used a goal-oriented approach, making sure that we defined what was important on our end before planning our approach toward a 30 year mortgage and our first home purchase. All the way through the process, Brad's team was available, answering our e-mails and texts usually within a matter of minutes, but never later than roughly an hour - someone always seems to be available. Everyone was pleasant, present, and understanding throughout the mortgage process. There was literally not one stumbling block in the entire process. I have to say, it's been a real pleasure working with you and your team. Can't wait to do it again!John S. Home Buyers
Your whole team was fabulous and easy to work with.Shari S. Real Estate Professional
Thank you Brad. Your team was great! We appreciate the financial counseling.Rob and Karen G. Home Buyers
I have never worked with 2 better people !!!! Brad and Kristine explained everything and spent the time with me for this process. You both were always there to help, respond and cared about both dad and myself. I would highly recommend your company !!! Great job !!!Barb D. Home Owner
Great work by the whole team. We love the new place. Thanks to Brad, Kristine, and Lorraine!Ted & Andrea B. Home Buyers
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You are ready to buy a home! After you receive your pre-approval, it’s very important to inform us of any changes to your financial picture or credit history as this could impact the amount or type of loan for which you’ll qualify once your loan is fully underwritten.
First and foremost, because you need an experienced professional working on your behalf. The AGENT’s commission is not paid by the buyer, but by the seller of the home being purchased, and it is in each party’s best interest to have professional representation. As a seller, profits are generally maximized by having an experienced AGENT market and sell your home, rather than dealing with the headaches of trying to do it all on your own.
Not everybody qualifies for the same mortgage rates. If you think about the times you have applied for a loan, you’ll remember that the interest rate the lender gave you was partly determined by your credit score, your debt to income ratio, and the amount of money you were planning to put down on the loan. These are some of the strongest factors that influence rates (though they’re not the only ones).
While home buyer John might qualify for a mortgage rate of 5% based on his credit score and other risk factors, home buyer Jane may only qualify for a rate of 6.25%. The offers you receive will be based on various factors, in addition to your credit score.
Much of it has to do with risk. The big idea here is that risk impacts the rate. A borrower who is considered a higher risk due to late credit payments, high debt ratios, etc., will typically end up with a higher interest rate than a borrower with a higher credit score, more income and significant assets.
Many people are surprised to learn that rates change on a daily and sometimes hourly basis. Interest rates fluctuate in response to changes in the financial markets. The bond market is generally a good indicator of the trend of interest rates, with higher bond rates usually producing higher mortgage rates.
Mortgage insurance is generally required in one form or another when the down payment is less than 20%, and it protects the lender in the event of loan default. The lower the down payment, the higher the risk for the lender, and thus the higher the monthly mortgage insurance premium. Depending on your particular situation, there may be loan options available that either don’t require monthly mortgage insurance payments or allow your monthly mortgage insurance payments to be dropped at some point in the future.
(Disclaimer: *BPMI = Borrower Paid Mortgage Insurance; LPMI = Lender Paid Mortgage Insurance. LPMI may not be cancelled by the borrower; it terminates only when the loan is refinanced or paid off, and it usually results in a loan with a higher interest rate than BPMI unless discount points are added to lower the rate. BPMI may be cancelled or terminated when the loan reaches 80% of the original value of the property.)
It is a policy provided by the title company guaranteeing the accuracy of the title work done on your home at the time of purchase. As a buyer, you are required to purchase a lender’s policy of title insurance as part of your standard closing costs, which only protects the mortgage company. You may also choose to purchase an owner’s policy, which would protect you against any loss in the event of any legal issues relating to the title of your home.
Many different factors need to be analyzed to determine if refinancing is right for you, such as the length of time you intend to stay in your home, the type of loan you currently hold, or whether you’re currently paying monthly mortgage insurance. We are always happy to provide a recommendation for your particular circumstances.
Our loan officers are paid from the loan itself. Cherry Creek Mortgage has relationships with many investors so we are able to customize products to fit your needs. Since we have access to a multitude of products and investors, it gives us the ability to find you the right loan, not just any loan. Our loan officers work with your financial goals in mind and customize a package, program, or solution for you.