8725 West 14th Avenue, Suite 200 Lakewood, CO 80215

Month: January 2012

Pre-qualified vs Pre-Approved

What does it mean to be pre-qualified for a home loan? Pre-qualified for a loan gives you an idea of how much you might qualify for. You have not applied for a loan. The mortgage officer has only your word on your income, assets and liabilities. None of the information […]

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Credit Scoring: What’s the Grade?

When you apply for a mortgage loan lenders want to know the risk. FICO® scores are the credit scores most lenders use to determine your credit risk. Credit bureau scores are often called “FICO® scores” because most credit bureau scores used in the U.S. are produced from software developed in […]

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What Does It Mean To “Lock In” A Rate?

A rate lock is a lender’s promise to keep a specific interest rate on hold for you and a specific number of points for a period of time while your loan application is being processed. This prevents you from going through the trouble of the whole application process and at the end; finding out the […]

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