Guide to Refinance, Mortgage,
& Home Equity Loans in
Fort Collins, Colorado (CO)

The city of Fort Collins, CO is located on the Cache la Poudre River along what is known as the Colorado Front Range. A large college town, home to Colorado State University, Fort Collins is the fifth most populous city in Colorado .

Driven by a large college-age demographic, the city has a thriving local music circuit, and is home to a number of well-recognized microbreweries. Old Town , a historic downtown shopping district, hosts a number of large festivals each year. There is a thriving beer culture in the city. In addition to an Anheuser-Busch brewery—operating just north of the city since 1984—there are three microbreweries, the New Belgium Brewing Company, the Odell Brewing Company and the Fort Collins Brewery in Fort Collins.

The many large employers in Fort Collins include Hewlett-Packard, Poudre Valley Health System and the Poudre School District. In 2006, Fort Collins was ranked by Money as the best place to live in America , with "great schools, low crime, good jobs in a high-tech economy and a fantastic outdoor life.” The median income in Fort Collins is $44,459.

Clearly, Fort Collins offers a wonderful place to settle. Whether you are looking for a new home loan or refinancing in Fort Collins, we would like to make your experience easier.

Refinancing and Home Equity Loans in Fort Collins

If you got a term you didn’t like on your first mortgage or the rates in the Fort Collins area have dropped, now is a great time to consider refinancing. You could even turn the equity you’ve built in your home into cash. If you like the idea of getting cash, but you don’t want to change your loan terms, consider a home equity loan. A home equity loan in Fort Collins allows you as a homeowner to get a loan by using the equity in your home as collateral. You can choose from a separate home equity loan or a home equity line of credit. Our lenders would be happy to answer any questions you have about your home equity and how best to access it.

Consider a Fort Collins Mortgage

If you’re ready for your first mortgage in the area, you have lots of choices to make. We will help define some of the most common loan terminology for you.

Fixed Rate Mortgage

This loan comes with one interest rate for the entire loan period. Your payment never changes for the entire fifteen or thirty year term of the loan. These are often best for those who need to follow monthly budgets.

Adjustable Rate Mortgage

This loan has an interest rate that changes periodically. When you apply for this type of loan, you will want to discuss the adjustment interval which determines how frequently the interest rate on the loan changes, the index which is how the lender determines the interest rate on your loan, and the caps which are limits your lender offers to make certain that your payment amount doesn’t change too much. These loans work for individuals who need lower starting payments than a fixed rate loan or for those who plan to stay in their home for just a few years.

Interest Only Loan

This is a kind of adjustable rate loan where for the first ten years you pay only the interest. This makes your payments lower than they would otherwise be. After ten years, however, you have much higher payments when the principle balance is finally figured in. These loans may be best if you think your income will rise in the next few years.

Options ARM

This loan works best for those who aren’t sure how much they will be able to pay each month. You choose each month from a minimum payment, an interest only payment, a fifteen year amortized payment or a thirty year amortized payment.

Balloon Loan

This loan is your best bet if you are looking for the lowest available interest rate. The drawback, however, is that this loan reaches maturity in only five years. Unless you plan to sell your home or pay it off by then, this may not be the best choice for you.

For more details on mortgages, home equity loans or refinancing in Fort Collins, CO, fill out the form given below. A lender will contact you ASAP to find out how to help you with your mortgage or loan.

Other Colorado (CO) Guides to Refinance, Mortgage, and Home Equity Loans in Your City or Town:

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Colorado Refinance

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