Different Loan Options for Buying a Home

Navigating loan options is a critical step in making informed financial decisions. A comprehensive understanding of the available loan programs can empower buyers to secure the funding needed for their ideal home and help sellers maximize their opportunities in Northern Colorado’s dynamic real estate market.

A woman is holding a home for sale sign in front of a house.

Types of Home Loans

  • Conventional Loans
  • FHA Loans
  • VA Loans
  • USDA Loans
  • Jumbo Loans
  • Fixed-Rate Mortgages
  • Adjustable-Rate Mortgages (ARM)
  • Interest-Only Loans
  • Bridge Loans
  • Renovation Loans
  • Energy-Efficient Mortgages (EEMs)
  • First Time Home Buyer
A man and a woman are holding keys to their new home.

First Time Homebuyer

Thinking about buying your first home in Northern Colorado? Fear not, brave homebuyer! Big Seth is here to turn your property dreams into reality. With more listings than there are burrito shops in town, I’ll help you navigate the wild world of real estate without losing your mind—or your deposit! Whether you want a cozy nest or a mountain retreat, I’ll tackle the stress while you focus on picking out paint colors and convincing your friends to help you move. Let’s find you a home that even your mother-in-law will envy!

A woman is holding two signs that say sale pending and sold.

The Homebuying Process Explained

"Buying a home is a journey, and like any great adventure, it’s always better when you have the right guide leading the way. Big Seth is dedicated to helping you navigate every step of the process, from browsing listings to understanding the complexities of paperwork and negotiations. With extensive knowledge of Northern Colorado's real estate market, Big Seth ensures you’re equipped with the information and support needed to make confident, informed decisions. Whether you're purchasing your first home, upgrading to your dream property, or selling, Big Seth offers personalized service and expert advice to make your experience smooth, efficient, and stress-free from start to finish."

EXPLORE YOUR LOAN OPTIONS

Loan Options for Northern Colorado Homebuyers

Conventional Loan

Standard loans not backed by the government, typically requiring higher credit scores and larger down payments.




FHA Loan

Government-backed loans designed for buyers with lower credit scores and smaller down payments, offering more lenient qualifying requirements.

VA Loans

Loans available to veterans and active-duty service members, offering no down payment and no PMI.




USDA Loans

Loans backed by the U.S. Department of Agriculture, available for low-to-moderate-income buyers in rural or suburban areas, often with no down payment.

Jumbo Loans

Loans exceeding the conforming loan limits, typically for high-value properties, with stricter requirements and higher interest rates.

Fixed Rate Mortages

Loans with an interest rate that remains the same for the entire term, offering stable monthly payments.




Adjustable Rate Mortages (ARM)

Loans with an interest rate that can change over time, usually offering lower initial payments that may increase in the future.



Interest-Only Loans

Loans where the borrower pays only the interest for a set period, with payments increasing later to cover the principal.




Bridge Loans

Short-term loans designed to help homeowners buy a new property before selling their current one, using the equity from the existing home.



Renovation Loans

Loans that allow buyers to purchase a home and finance renovations at the same time, such as the FHA 203(k) or Fannie Mae HomeStyle loan.



Energy Efficient Mortgages (EEM)

Loans that help homebuyers finance energy-efficient upgrades as part of their mortgage, making homes more eco-friendly and cost-effective.

First Time Homebuyer

Loans designed for first-time buyers with lower down payments, reduced rates, and flexible credit requirements, such as FHA, USDA, and local programs.

Mortgage Calculator

Your estimated monthly payment is

$1379

30 year fixed loan

Principal & Interest
$ 954
Property Taxes
$ 312
Home Insurance
$ 112
Total Payment
$ 1379
Clear

Looking to Buy a Home?

Call Big Seth

We want to know your needs exactly so that we can provide the perfect solution. Let us know what you want and we’ll do our best to help.

Frequently Asked Questions about Loans

Here are some common questions and answers regarding loans to help you navigate the financing process for your new home.

  • What types of loans are available for homebuyers?

    Homebuyers can choose from various loan types, including conventional loans, FHA loans, VA loans, and USDA loans. Each type has its own eligibility requirements and benefits, so it's essential to explore which option suits your financial situation best.

  • How do I determine how much I can borrow?

    Your borrowing capacity depends on several factors, including your income, credit score, debt-to-income ratio, and the type of loan you choose. A mortgage lender can help you assess your financial situation and provide a pre-approval amount.

  • What is a down payment, and how much do I need?

    A down payment is the initial amount you pay towards the purchase of a home. The required down payment varies by loan type, ranging from 3% to 20% of the home's purchase price. Some programs may offer down payment assistance.

  • What are closing costs?

    Closing costs are fees associated with finalizing a mortgage, including appraisal fees, title insurance, and loan origination fees. These costs typically range from 2% to 5% of the loan amount and should be factored into your budget.

  • Can I refinance my loan later?

    Yes, refinancing your loan is an option if you want to take advantage of lower interest rates or change your loan terms. It's essential to evaluate the costs and benefits of refinancing before making a decision.

Need More Help?

If you have more questions about loans or need assistance with the home buying process, feel free to reach out to us. We're here to help you every step of the way.