Eric Kulbe - Synergy One Lending

1. Home Loan Services We Provide: VA FHA Conventional  USDA Retirement Home Loans Jumbo

2. About Eric Kulbe The Eric Kulbe Team is a full-service mortgage lender that provides financing for homeowners and home buyers in Colorado, including Conventional loans, FHA loans, VA loans, Jumbo loans, and USDA loans. Eric and his team bring a very successful track record with such accomplishments as; – Ranked ‘Top 200 Loan Officers’ according to Mortgage Executive and Scotsman Guide magazines – Achieved an incredible ranking of ‘5-Star Professional’ by 5280 from 2010-present – Earned an astounding ‘#1 volume ranking’ for Colorado by Mortgage Executive magazine – Multi-time President’s Club and Chairman’s Club recipient

3. VA Home Loans:VA Loans are types of mortgage loan that is backed by the United States Department of Veterans Affairs. This means that the lender is a veteran and can be sure that their money will be in good hands. The VA guarantees the loan amount, which means that you do not have to pay a dime in interest. For this reason, you do not have to worry about the lender's financial stability because the VA will take care of the loan. Who Is Eligible For a VA Loan in Colorado? One of the first requirements to qualify for a VA home loan in Greenwood Village is that you must be a Veteran. The VA requires applicants to prove that they are eligible for the program. Income and assets must be verified, and the Veterans must show they can afford the loan. It is essential to provide documentation to show that you are eligible to qualify for a VA loan. Also, lenders will run a credit check to determine whether you qualify for the program. While most lenders will require a FICO score of 620, the VA does not have a minimum requirement. However, if you are a veteran, you must have a credit score of at least 580. A qualifying mortgage will require that you pay a funding fee of 2.3% of the loan amount, which can be rolled into the loan balance.

4. FHA Home Loans:Before applying for an FHA home loan, you should know your credit score and understand how to improve it. The good news is that there are many ways to improve your credit score without sacrificing your rate.  Applicants who qualify for an FHA home loan must have a minimum credit score of 500. Applicants should also have at least three to five percent down, and they must have no significant derogatory events within the past year. The down payment required for an FHA loan can range from 3.5% to 10%, depending on the lender's underwriting criteria. An FHA home loan requires a minimum 3.5 percent down payment and mortgage insurance, which is a lower amount than the 20% required by conventional loans. But it's not free, so you can only refinance into a traditional loan after you've built 20% equity in your property. In addition to a lower down payment, an FHA refinance allows you to extend your current loan term. You don't have to stick with your current lender, but you need a good credit score. Getting an ARM to a fixed-rate mortgage is the best way to save money over time and reduce your monthly payments. In addition to the lower down payment, an FHA refinancing is a great way to convert an ARM into a fixed-rate mortgage.

5. Conventional Loans:When buying a house in Greenwood Village, conventional loans are a great option.The interest rates are usually higher than FHA loans, but they are not the only difference. The guidelines for conforming to conventional loans also include some interesting information. For example, FHA requires a higher livability score. By contrast, conventional loans typically require a lower standard of living.  A conventional loan requires a low debt-to-income (DTI) ratio. This ratio is calculated by taking the minimum payments on all debts and dividing them by your gross monthly income. 650 should be your minimum credit score to qualify for a conventional loan. You can also reduce your DTI by asking for a raise at work or lowering your monthly expenses. These steps will help you qualify for a conventional loan and get a better interest rate. While an FHA loan has more stringent requirements, conventional loans do not. As a result, conventional loans tend to have lower interest rates than FHA loans. You can get a traditional conforming loan with a credit score as low as 620. While a conventional conforming loan will not require a credit score above 660, you may find yourself with a slightly higher interest rate.

6. Retirement Home Loans:When applying for a retirement home loan in Colorado, it is essential to consider your income. Most seniors don't have regular monthly cash flow and may not qualify for a mortgage based solely on their pension. To be eligible for a retirement mortgage, borrowers must show that their income is steady and comes from a constant source. To get a mortgage, lenders look at income derived from social security, pensions, and investment income. Many banks offer mortgages with a 3% down payment. While it is possible to qualify for a lower interest rate by paying down more, it is essential to remember that this type of loan requires mortgage insurance. A 20% down payment, however, will eliminate mortgage insurance. In addition to a lower interest rate, a retirement home loan offers many advantages. In addition to a lower monthly payment, the loan may also have significant tax benefits. When applying for a retirement home loan, you must be able to prove your income and assets. This means proving that you are retired and relying on Social Security as your primary income. Aside from Social Security, there are other types of income that retirees receive. Retirees must have enough assets to qualify for a loan. It is important to remember that the decision to obtain a retirement home loan must be based on your financial circumstances.

7. Jumbo Loan:A jumbo loan is a mortgage loan of an amount above the conforming loan limits. This type of mortgage loan is best for those with poor credit and a good credit score. It is appropriate to know about the differences between a jumbo and a conventional mortgage loan.  Usually, a jumbo loan will require a larger down payment than a traditional mortgage, and it also requires a higher credit score and a lower debt-to-income ratio. A jumbo loan can be a good choice for people with good credit and a large money reserve. For the most part, a jumbo loan will require no down payment or equity in the home, but the amount of money you have to put down is much higher than a conventional mortgage. When looking for a jumbo loan, you'll want to ensure you have all your financial documents in order. You'll need your bank statements, tax returns, 1099, and W-2 forms. You'll also require at least six months' worth of cash on hand. The best idea is to have at least six months' worth of money available before you apply. You'll also want to prepare an extensive checklist of documents and items you'll need.

8. USDA Home Loan: If you are considering buying a new home, you should look into a USDA Loan. This loan program is for homebuyers who are rural property owners. The United States Department of Agriculture offers this loan to help those who can't afford conventional loans. In addition to providing these loans, the USDA also gives out mortgage loans through its rural development guarantee housing loan program. It's a great way to get a mortgage for a new home. When applying for a USDA loan in Colorado, you should first know what you qualify for. The amount you can be eligible for depends on several factors, including your debt-to-income ratio, assets, and debt-to-income ratio. If you generally receive a high income or want to buy a home with an in-ground pool, you can't apply for a USDA loan. To qualify for a USDA loan, your household's income should be below 115% of the area's median income. The credit score for USDA Loan needs to be within reasonable limits, and you can use rental payment histories or utility bills as credit references. You must also own the property, and you should be living in it. In addition to meeting these requirements, you must show that you can repay the loan.

9. Contact Us Phone: 720-892-0422 5675 DTC BLVD SUITE 250A Greenwood Village, CO 80111 https://www.erickulbe.com/ ekulbe@s1l.com