Fixed Rate Mortgages
for a Fixed Rate 15yr or 30yr mortgage in Colorado?, well then
you have come to the right place!
The most common type of mortgage program here is Colorado where
your monthly payments for interest and principal never change
is the Colorado Fixed Rate Mortgage. Property taxes and homeowners
insurance may increase, but generally your monthly payments will
be very stable with this particular loan product.
Fixed-rate mortgages are available for 30 years, 20 years, 15
years and even 10 years. There are also "bi-weekly" mortgages,
which shorten the loan by calling for half the monthly payment
every two weeks. (Since there are 52 weeks in a year, you make
26 payments, or 13 "months" worth, every year.) This is a great
option for people who want to get principal down here on the area.
rate fully amortizing loans in Colorado have two distinct features.
First, the interest rate remains fixed for the life of the loan,
the life of the loan depends on what loan product you want to
use for you purchase here in Colorado. Secondly, the payments
remain level for the life of the loan and are structured to repay
the loan at the end of the loan term. The most common fixed rate
loans are 15 year and 30 year mortgages.
the early amortization period, a large percentage of the monthly
payment is used for paying the interest . As the loan is paid
down, more of the monthly payment is applied to principal . A
typical 30 year fixed rate mortgage takes 22.5 years of level
payments to pay half of the original loan amount. If
you would like more information please call us toll free 855-529-5222
Call 24hrs a Day 7 days a week, someone will always be available
to assist in your home purchase here in Colorado.