Is it better to buy or rent a home? Industry observers do the math

Blog, Buying a Home, First Time Buyer tips, Mortgage & Finance

As home markets go through their ups and downs, many find themselves asking a simple question: Does it make financial sense to buy a home? Or is renting more cost effective? Three recent studies show that the former is still the most sound decision. The first study,...

Lender’s Corner: Using gifts as down payments requires special attention

Blog, Lender's Corner, Mortgage & Finance

As price tags on homes in the Denver area skyrocket, many first-time buyers are using cash gifts from parents and grandparents to meet down payments. In fact, notes Realty Times, “as of 2012, one in five baby boomers has either gifted, loaned or co-signed a loan to...

Worried about rising property values? This might ease the pain

Blog, Mortgage & Finance

It’s an odd-numbered year. For property owners, that means it’s again time for property assessments. According to Colorado law, homes are re-appraised every two years, always on the odd-numbered year. This year, as housing prices reach record highs due to the hot...

FHA reduces mortgage insurance premiums

Blog, Mortgage & Finance

Good news for people buying Denver real estate: The Federal Housing Administration recently lowered its mortgage insurance premiums — a move that could save a typical FHA applicant about $80 on his/her monthly payment. FHA has cut annual mortgage insurance premiums ½...

“Charm pricing” results in charmed sales, according to study

Blog, Mortgage & Finance

We all know the trick: a manufacturer wants $10 for its product, but charges $9.99 instead. We register the cost as $9 instead of $10, even though logically we recognize this is a gimmick. Can a penny really make such a difference? Indeed, studies show that it...

Lender’s Corner: Bargain Interest rates available for jumbo loans

Blog, Lender's Corner, Mortgage & Finance

If you’re in the market for a loan higher than $417,000 — what the industry calls a “jumbo loan” — you may have noticed that interest rates haven’t favored you in recent years. Typically, these loans are offered at around .25 percentage points higher than conventional...