Colorado Home Mortgage Loans

Written by Patricia Tunstall
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Colorado home mortgage loans are complex, if only because the home buyer must collect so much information and supply so many forms and documents. Colorado mortgage lenders, however, are intent on helping, advising, and guiding home buyers through the process with the least amount of confusion. When a hopeful buyer has chosen a house, the loan application procedures begin with the borrower providing a great deal of personal and financial information.

After the sales contract is given to the loan brokers, and it is deemed complete, the borrower must supply relevant details to the mortgage companies. All co-signers (spouses and others) must give their Social Security numbers, ages, years of schooling, marital status, dependents, and current addresses and phone numbers. This is typical of any application; the required financial information is not so common, but it makes sense considering the amount of money involved.

Required Information for Colorado Home Mortgage Loans

Colorado home mortgage loans are worth hundreds of thousands of dollars for each borrower, and this is an enormous investment for both the borrower and lender. In order to accurately evaluate this investment, mortgage companies in Colorado need to know details that will show how consistent your financial history has been.

For instance, they will ask for expenses such as rent or mortgage payments, amount of real estate taxes, and homeowners insurance. They will also need the names and addresses of landlords and/or lenders for the past two years. Prospective lenders of Colorado home mortgage loans want to see that you have met your obligations responsibly in every aspect of your financial life.

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