Buying a house with a loan in Colorado typically relies on Fannie Mae/Freddy Mac mortgage industry standards, and loan requirements are important to factor into your purchasing decisions. Of course, your lender will look at your credit rating and ask about any outstanding loans or debts that you might have. Your credit score should be 620 or higher, and you need to make sure that your debt-to-income ratio is no more than 36%. Have your financial documentation in order and ready for inspection including proof of income, tax returns, bank statements. You will need to obtain a home appraisal to determine the home’s value and have a downpayment ready to pay at closing. Once your lender has determined how much house you can afford, we find your property!
If you’re purchasing your property with cash, the purchase process is greatly simplified, focused simply on finding the right property and getting under contract.
Burgess Group has an extremely high under-contract rate, even through the most difficult inventory-low markets..