Mortgage Lending
Looking for home financing? Here at Rocky Mountain Bank & Trust, we can help you realize the dream of home-ownership. Whether you're a first-time home-buyer, or an experienced veteran, here at Rocky Mountain Bank & Trust we offer competitive rates on our home loans. Let us help you finance one of your most important life assets-and one of the largest purchases you will make in your lifetime… your home.
- Competitively low mortgage loan interest rates.
- Fixed or Adjustable Rate (ARM) financing available.
- Personal, home-town service and local decision-making.
Contact Bonnie
719-314-1529 (Office)
719-440-5106 (Cell)
NMLS#1409071
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MORTGAGE LOAN PRODUCTS
- Conventional Loans
- Buyer has immediate equity in the property.
- Low down payment options available for qualified borrowers.
- No private mortgage insurance is required with a 20% down payment, which is a great advantage.
- Fewer bureaucratic hurdles, making the loans quicker to process.
- No government stipulations and prepayment penalties if you sell or refinance your house
- Portfolio Loans
- In-house; non-conforming.
- Financial flexibility
- Single -wide mobile homes
- High debt to income
- Loans that don't fit the VA, FHA, and Conventional guidelines
- JUMBO Loans
- Loans in excess of $453,100
- Conventional lenders typically insist that the borrower put down more than 20% on a JUMBO loan.
- Interest rates on JUMBO loans traditionally run higher than Conforming loans.
- FHA Loans
- Low down payments (as low as 3.5% of the purchase price).
- Great rates
- Easier credit qualifying
- 100% gift funds acceptable for down payment and closing costs.
- Flexible qualification guidelines.
- El Paso County - less than $304,750.
- Fremont County - less than $294,515.
- For other counties in Colorado - please call us!
- USDA Home Loans
- 2% guarantee fee may be included in financing.
- Competitive interest rates.
- Lender fees and closing costs (including prepaid funds) may be contributed by the seller or may be eligible to include in the loan, depending on the appraised value.
- Gifts or grants permitted from family, friends, and non-profit agencies.
- VA Loans
- 100% Financing & No Down Payment Options
- Competitively low VA loan interest rates
- Seller can pay off your debts to qualify
- No cash reserves required
- VA funding can be financed
- More leniency on derogatory credit
- No monthly mortgage insurance
- Maximum loan amount equal to the conforming loan limit
- Conventional Loans
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ESSENTIAL DOCUMENTS CHECKLIST
- Standard Items
- Signed Loan Application and Full Disclosures
- Previous Two Years W-2's & Full Tax Returns (All Schedules) Most Recent 30 -Days' Pay Stubs or Proof of Any Income
- 2 Most Recent, Consecutive Months Bank Statements
- Homeowner's Insurance Information
- Agent's Name, Phone Number, Address and E-mail
- Declaration Page
- Quote if Not Purchased
- Policy Number & Full Policy if Available Purchase Contract
- Copy of Driver's License
- Current Mortgage Statement
- Copy of Earnest Check (Purchase Only)
- If Self-Employed
- Previous Two Years Business Tax Returns
- Year-To-Date Profit & Loss Statement for Current Year
- Business Licenses and Information for Corporate Entity
- Additional Items if Applicable
- Copy of Settlement Statement for Current Property if Sold or to be Sold
- Form DD214/LES and VA Certificate of Eligibility Form (VA Loans Only)
- Proof Student Loans are in Deferment
- Document Stating Retirement/Annuity Income will continue for at Least 3 Years
- Signed Gift Letter by Gift Give, Copy of Gift Check, Copy of Giver's Bank Statement Showing Available Funds
- Bankruptcy Discharge/Dismissal Papers (If Applicable)
- Divorce Decree (If Applicable)
- Standard Items