With our Professionalism, Knowledge and Technology, and YOUR good* credit, THE $$$$$$

is in YOUR--

*Includes persons with a past history of bad credit, or you just want to start over again, and have minimal credit or don't have any credit!

DENVER COLORADO MORTGAGE LOAN TERMS TO KNOW

ANNUAL PERCENTAGE RATE:

An interest rate that reflects the actual cost of a mortgage as a yearly rate. Includes points and other costs, so usually is higher than the advertised rate.

ASSUMABLE LOAN:

A loan that the lender is willing to transfer from a prior owner to new owners, sometimes at the same interest rate.

CLOSING COSTS:

All charges associated with getting a mortgage, including origination fee, points, appraisal fee, title search and insurance, survey, taxes, deed recording fee, charges for credit reports and other costs.

EARNEST MONEY:

Funds submitted as a "good-faith" gesture to show a potential buyer is serious about buying.

EQUITY:

The value of your home after the outstanding balance of any loans are subtracted.

ESCROW:

A third-party account set up by the lender in which your funds are held to pay for taxes and insurance.

ORIGINATION FEE:

The fee charged by a lender to prepare all documents associated with your mortgage.

POINTS:

Prepaid interest on your mortgage, charged by the lender at closing. Each "point" is 1 percent of the loan amount.

PREPAIDS:

The expenses escrowed at closing, usually including real estate taxes, insurance and interest.

PRINCIPAL:

The amount of debt, not including interest, left on a loan; also the face amount of a mortgage.

PRIVATE MORTGAGE INSURANCE:

An insurance policy the borrower buys to protect the lender from nonpayment of the loan. PMI policies are usually required if your down payment is less than 20 percent of the home's appraised value.

TITLE INSURANCE:

A policy insuring you against errors in the title search, essentially guaranteeing you and your lender's financial interest in the property.