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Fixed Rate Mortgages in Colorado

Choose the fixed rate mortgage that fits your lifestyle and budget. Learn how with our comprehensive guide.

10-30 Year Fixed Rate Mortgages in CO

Stay in control of your budget: With fixed rate mortgages, your interest rate remains steady throughout your loan term.

If you’re planning to stay in your home for the long haul, a fixed rate mortgage could be the perfect fit. Fixed rate mortgages are a great option for Colorado home buyers looking for stability. With a consistent rate throughout the life of the loan, you can count on monthly payments that won’t fluctuate with market changes.

These loans come in different varieties based on the loan period, with 10-, 15- and 30-year options available. The shorter the loan term, the lower the interest rate but the higher the monthly payments. Our team of experts can help you determine which loan period and rate structure best fit your lifestyle.

Whether you’re a first-time home buyer or looking to refinance, we offer competitive rates and personalized service to make the process as smooth as possible. Contact us today to discuss your options!

What Is a Fixed Rate Mortgage?

If you’re planning to purchase a home in Colorado, one of the most important decisions you’ll make is choosing the right type of mortgage. A fixed rate mortgage is a popular loan option that offers predictability for homeowners. Since fixed rate mortgages remain consistent throughout the life of the loan, you’ll never have to worry about unexpected rate increases or market conditions affecting your mortgage payments.

Advantages of a Fixed Rate Mortgage in Colorado

One of the key advantages of fixed rate mortgages in Colorado is that they’re ideal for home buyers looking to live in their home for a long period of time. Some of the top benefits of this type of home loan include:

  • Predictable payments — Monthly payments remain the same over time, making budgeting and financial planning easier.
    Protection against market volatility — Unlike adjustable rate mortgages, which can rise or fall depending on economic conditions, fixed rate mortgages lock in the same interest rate, and payment, over the course of your loan.
  • Longer-term stability — With a fixed rate mortgage, you can rely on your loan terms to remain the same over time.
  • More manageable payments — Although the interest rate on a fixed rate mortgage may be slightly higher than an adjustable rate mortgage in the short term, longer loan periods can offer lower monthly payments, making it easier for some homebuyers to manage their cash flow.
  • Flexibility — Fixed rate mortgages come in different varieties based on the loan period, with 10-, 15- and 30-year options available. This flexibility enables home buyers to select the mortgage type that best suits their needs and financial goals.
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Types of Fixed Rate Mortgages in Colorado

At Blue Water Mortgage, we offer various types of fixed rate loans in Colorado to suit your unique needs.

  • Home equity loan — With this option, home buyers borrow a lump sum of money and then repay it over a fixed period of time at a fixed interest rate. This loan type uses your home as collateral, and if you can’t repay the loan, you risk losing your home.
  • Personal loan — This is a type of loan that can be used for various personal expenses, including buying a home. Unlike a home equity loan, the lender does not have the right to take possession of any asset in the event of a borrower failing to repay the loan. Personal loans are typically approved based on the borrower’s creditworthiness and ability to repay the loan.
  • VA loan — If you’re a veteran or a surviving spouse, VA loans are available with lower restrictions than conventional loans.
  • FHA loan — These fixed rate loans are backed by the government and carry more lenient requirements for approval, such as accepting lower credit scores and down payments.
  • USDA loan — Also backed by the government, USDA loans offer a fixed rate alternative to those looking to purchase a home in a rural area.
  • Amortizing loan — Most fixed rate mortgages are amortizing, meaning that your monthly payment goes toward both the principal and interest and builds equity from day one.
  • Non-amortizing loan — If you need a lower payment option, a non-amortizing loan may be suitable, although it comes with the risk of incurring a balloon payment at the end of the loan.

At Blue Water Mortgage, we’ll work with you to find the right loan option to fit your needs.

15 vs. 30 Year Mortgage in Colorado

Conforming Fixed Rate Mortgages
30-Year Fixed Mortgage 15-Year Fixed Mortgage
Conforming High Balance Fixed Rate Mortgages
30-Year Fixed Mortgage 15-Year Fixed Mortgage
Jumbo Balance Fixed Rate Mortgages
30-Year Fixed Mortgage
Loan balances up to $726,200. These mortgages offer a fixed interest rate and monthly payment that never changes.
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Loan balances over $726,200 and as high as $1,075,250 (depending on county limits). These mortgages offer a fixed interest rate and monthly payment that never changes.
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Loan balances over $1,075,250 (depending on county limits) and up to $2.5 million. These mortgages offer a fixed interest rate and monthly payment that never changes.
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The Ideal Fixed-Rate Mortgage Borrower in CO

When it comes to obtaining a fixed rate mortgage in Colorado, certain characteristics and factors can make for an ideal borrower. While each person’s financial situation is unique, there are some traits that tend to make the borrower more attractive to lenders.

In any case, a decent credit score is essential. Borrowers with higher credit scores are typically seen as less risky, and therefore, they are more likely to qualify for a lower interest rate. Having a stable employment history and a consistent income stream are also highly desirable for Colorado home loan borrowers. Lenders want to see that you have a reliable source of income to ensure you can make your monthly mortgage payments on time.

Another important factor is the borrower’s debt-to-income ratio (DTI), which is the percentage of your monthly income that goes toward paying off existing debts. Lenders prefer a DTI below 43%, but the lower the better. A lower DTI demonstrates that you have fewer debt obligations, making you a more attractive borrower.

Additionally, being able to make a down payment of at least 20% of the home’s purchase price can be highly advantageous. Doing so shows that you have a solid financial foundation and are committed to the investment, reducing the lender’s risk.

While meeting all of these criteria is not always necessary in order to be approved for a mortgage in Colorado, having these traits can help you secure a lower interest rate and better loan terms.

Why Blue Water Mortgage?
No Surprises
No Surprises
With over 150 years of collective experience, our mortgage brokers have seen it all. This level of expertise enables us to anticipate and quickly resolve any issues that might arise and close on time, every time.
Personalized Services
Personalized Services
Buying a home is one of the biggest purchases you’ll make in your entire life. That’s why our brokers are available via phone 24/7 to address any concerns or answer any questions you might have about the mortgage process.
Competitive Rates
Competitive Rates
Blue Water is locally owned, so we aren’t beholden to banks. That means we’re able to offer a more diverse portfolio of mortgage products tailored to your specific needs, as well as more competitive rates and lower closing costs.
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The Mortgage Process

Blue Water’s mortgage loan process timeline involves a series of five steps, some of which require sitting down with one of our experts to analyze all aspects of your financial health. Here’s what you can expect:
Getting to Know You & Getting On Track
In our first meeting, we’ll answer your questions and talk about the programs we offer that would best fit your situation.
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Getting Pre-Qualified
The next step in the mortgage loan process is applying for pre-qualification, which enables us to confidentially verify your credit, income, assets, and liabilities.
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Assessing Loan Programs & Rates
At this point, we’ll start to sort through and evaluate which mortgage best fits your needs.
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Obtaining Loan Approval
Once you’ve submitted your loan application, we’ll work with our lenders to help find you the best rate and most favorable terms possible.
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Closing the Loan
After your loan is approved, we’ll review the details once more to make sure you feel confident about the financial commitment you are about to make. Once all of your questions are answered, we will schedule a closing.
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Meet Our Colorado Loan Officers

At Blue Water Mortgage, we understand that purchasing a home can be overwhelming, which is why we’re here to help. With our experienced team of brokers, who collectively have over 150 years of lending experience, you can trust that you’re in capable hands. Our agents are experts in their field and are dedicated to providing customized support to meet the unique needs of each of our clients, whether they’re first-time home buyers or seasoned investors.

Our brokers have an in-depth understanding of the local Colorado housing markets and leverage their industry know-how to provide personalized guidance throughout the entire home buying process. We’ll be there for you every step of the way.

Get Started Today with Blue Water Mortgage

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