Live Colorado Mortgage Rates
The State of Colorado has seen significant increases in its real estate market in recent years. Now may be the perfect time to enter the Colorado market. If you are considering buying a home in Colorado and plan to obtain financing, you need to put in the effort to acquire the best mortgage rate.
Shopping around for current mortgage rates will help you save money in the long term. Sammamish Mortgage has been serving Colorado home buyers since 1992 and can provide you with a competitive mortgage rate today. Contact one of our mortgage professionals to learn more and check out our mortgage rates today for your Colorado home.
Why Choose a Home in Colorado
It’s no surprise that many new buyers are entering the market in the State of Colorado. Colorado’s real estate market has come a long way. This is due in part to the state’s growing economy, scenic beauty, and its many other attractive features. Colorado has a few cities which are among the more attractive in the country. Denver, for instance, routinely ranks high on many indices of quality of life. Colorado has several other highly attractive cities as well, including Fort Collins, Boulder, and Colorado Springs.
Currently, as of January 2022, Colorado has a statewide median home value of approximately $528,211. This figure represents a more than 22% increase over the median value of several years prior. What’s more, the Colorado market will continue to increase over the upcoming 12 month period.
Colorado has plenty of lovely parks and opportunities for outdoorsmanship. Just to the west of Denver, you’ll find Rocky Mountain, National Park. Just north and south of Rocky Mountain you’ll find Arapaho & Roosevelt National Forests. And a bit further west you’ll find Medicine Row-Routt National Forests.
The Rocky Mountains themselves are a marvelous sight, and there’s no shortage of opportunities to ski and hike all throughout the state. Colorado’s economy also has plenty of bright spots. In 2019, the city of Denver saw impressive economic growth. The city’s growing tech sector has done a lot to attract talented professionals from across the country. View Colorado Market forecast for 2022.
Understanding Your Quote and Percentage Rate
Your rate quote is based on a variety of factors (including your credit score, down payment, and purchase price) and delivers the most accurate results possible based on your inputs.
- Detailed costs breakdown: Click on the “view” tab under “details” to see an itemized list of all estimated costs.
- Rate & APR: Your rate is the anticipated interest rate. The APR is the total cost of your loan, expressed as an annual percentage rate.
- Origination charges: Sammamish Mortgage doesn’t charge industry-standard lender fees, so the amount for “origination fee” will typically be zero.
- Discount points: You can buy “points” by paying an amount for each point equal to 1% of the purchase price, and lower your interest rate by up to a quarter of a percent for each point purchased.
- Monthly mortgage payment: This includes the principal and interest included in your base monthly payment.
- Estimated third-party charges: This includes the wide range of fees included in your closing costs.
- Closing costs: The closing cost total listed includes everything except prepaid items such as property taxes, homeowner’s insurance, and daily interest.
- Private mortgage insurance premiums: PMI is required on loan to value (LTV) ratios over 80% (except on VA loans). We offer reduced PMI options with as little as 3% down.
- Rate locks: We can lock your rate from 30 up to 180 days.
One of the big advantages of applying for mortgage rate quotes and preapproval through Sammamish Mortgage is that we charge none of the traditional lender fees added by mortgage brokers.
We also pay our Loan Officers a salary instead of a commission based on the loan amount, so they are motivated to help you find the best home loan, not just sell you the biggest loan.
If you are ready to move forward, you can view rates, obtain a customized quote using our Instant Rate Quote tool, or apply for preapproval directly from our website.