If you are a 1st time home buyer in Colorado you can apply here at our website online. You can be sure that the information you are going to give us will be confidential and will not be used for any other purpose other than what it is intended for. Your information is secure because we use SSL software to encrypt it and send it over the internet. For first time home buyer loans, our application online is fast and secure. Not only that, it is also user-friendly. You are finished after a five-step application on a secure server. If, however, you were not able to complete the form on one sitting, you can just go back and login later and all of the information will still be stored there. It’s fast, secure, easy and user-friendly. Apply Now. If you are used to filling up your forms manually, you can also download a full residential mortgage application, which is available for print out. You can fax or mail it back to us. If error occurs when trying to download either of the forms, you are required to install an acrobat reader first. You can also check or monitor your Loan Status online!
For 1st time home buyers in Colorado with a bankruptcy, here are a few of the requirements you need to fulfill to be able to process your application. Bankruptcy history should be eliminated for the last 24 months. Sometimes it takes within three to four years for first time home buyers before they can buy a home after the court discharges the debt. Here are some post-bankruptcy tips that you can do to improve your status. It helps if you will open a secured line of credit. It is best if you choose a credit card company that will report your activity to the credit bureaus so that every time you use the card and pay on time your credit improves. You should also make other payments on time like car payments. This will reflect that you are a good credit risk and will establish a good credit standing for you. Check your credit score three months or more after the bankruptcy to check if all the accounts have been discharged, if not, then contact your legal representative to help you clear the problem. If you handled the bankruptcy by yourself, contact the company reporting the debt.
A bankruptcy should not discourage you from owning your home. In fact, it helps to use the law to handle your financial mishap. Bankruptcy courts may help the homeowners to be realistic with their plans. A bankruptcy may also give you the break you need from paying all of your high qualifying debt in a reasonable time. A Bankruptcy can be a legal solution to your overwhelming financial problems.
To prepare for home ownership, start saving a considerable money as down payment for buying a home just after your bankruptcy has been discharged. Of course, the larger your down payment, the lower your monthly payment becomes. If you had a good credit, the interest rate you’ll pay on a mortgage will be lower. Keep all your bankruptcy papers intact for the lender to review them along with other legal documentation to approve your loan.
To help fast-track your buying process, you can contact a realtor or several lenders for mortgage pre-approval to give you an advantage with sellers, since they know you’re eligible for a mortgage. You can trust a mortgage consultant to help you with your manage your credit and finances.
A financial problem can be transitory and mortgage lenders are fully aware of that. Although, again, a 3-to-4 year wait is a probability once you’re discharged from bankruptcy before you can once again buy a home.
Get on a road with owning a home. We can be your assistant buyer. Inquire about CHAFA home loans Colorado.