There are several factors to consider when you’re looking for a mortgage, each of which will help you decide what kind of mortgage is best for you. Depending on your circumstances, you might find that you qualify for more than one type of mortgage.
Hunter Lending offers four types of mortgages: conventional mortgages, FHA and VA loans, and jumbo mortgages. Each type of mortgage loan is designed for a different buyer, with different requirements, limitations, and mortgage rates.
First and foremost, most mortgages have a limit on how much money they can lend to a homebuyer. In Colorado, the 2020 limit on mortgages was $510,400, well over the median home value, which is just shy of $400,000. However, because of demand, many homes in Denver exceed that amount, which can limit the mortgage options available to you.