Looking for a fast and worry-free home purchase or refinance? Go conventional and go with us! As trusted mortgage professionals serving the Denver metro area, we understand that securing the right conventional loan is essential to achieving your homeownership goals. Our streamlined approach to conventional financing ensures you receive competitive rates, flexible options, and expert guidance tailored to your unique financial situation.
Conventional loans remain the most popular mortgage option for homebuyers and homeowners across Colorado, and for good reason. They offer incredible flexibility, competitive interest rates, and the ability to avoid mortgage insurance once you build sufficient equity. Whether you're purchasing your first home in the thriving neighborhoods of Denver, buying a second home for weekend getaways, investing in rental properties, or refinancing to access your home's equity, conventional financing provides the versatility you need.
Understanding Conventional Loans
Conventional loans are mortgage loans that are not insured or guaranteed by the federal government. Instead, they conform to guidelines set by Fannie Mae and Freddie Mac, making them widely available through lenders nationwide. This conventional financing structure allows for flexibility in how the loans can be used and often provides the most competitive terms for borrowers with strong credit profiles.
- Competitive rates that save you money over the life of your loan
- Down payment options as low as 3% making homeownership more accessible
- Fast closings - most in less than 20 days
- Versatile options including primary or second homes, investment properties, cash-out refinances and more
- Credit scores starting at 620 with flexible qualification criteria
- First-time homebuyer programs available to help you get started
- Borrower assistance programs available to help with down payment and closing costs
- Eliminate PMI once you reach 20% equity in your home
- Higher loan limits available for more expensive properties
- Flexible property types including single-family homes, condos, townhomes, and multi-unit properties
Why Choose Coffee Mortgages for Your Conventional Loan?
At Coffee Mortgages, we bring a unique perspective to conventional financing through our affiliation with Colorado Financial Advisors. Unlike traditional lenders who focus solely on loan products, we take a holistic approach that considers your entire financial picture. This comprehensive strategy ensures that your conventional loan aligns with your long-term financial goals and supports your overall wealth-building strategy.
Our team understands that time matters when you're trying to purchase a home or refinance your mortgage. That's why we've streamlined our conventional loan process to deliver fast closings, most in less than 20 days, without sacrificing the personalized service and attention to detail you deserve.
Our Conventional Loan Services Include:
- Purchase Loans: Complete financing solutions for primary residences, second homes, and investment properties
- Refinancing Options: Rate-and-term refinancing to secure better rates and lower payments
- Cash-Out Refinancing: Access your home's equity for debt consolidation, home improvements, or other financial goals
- Jumbo Conventional Loans: High-value mortgage solutions for luxury properties exceeding conforming loan limits
- First-Time Homebuyer Programs: Specialized support and low down payment options for new buyers
- Down Payment Assistance: Programs to help with down payment and closing costs
- Pre-Approval Services: Get pre-qualified quickly to strengthen your buying position
Who Benefits from Conventional Loans?
First-Time Homebuyers
With down payments as low as 3% and special first-time homebuyer programs, conventional financing makes that first home purchase achievable.
Move-Up Buyers
If you're selling your current home and purchasing a larger property, conventional loans offer the flexibility and competitive rates you need.
Second Home Buyers
Planning a vacation property or mountain retreat? Conventional loans can finance second homes with attractive terms.
Real Estate Investors
Investment property financing is available through conventional loans, allowing you to build your rental portfolio.
Refinancing Homeowners
Whether you want to lower your rate, shorten your term, or access equity through a cash-out refinance, conventional loans provide multiple refinancing options.
The Conventional Loan Process: What to Expect
Understanding the conventional loan process helps set realistic expectations and ensures a smoother experience from application to closing.
01
Initial Consultation
We begin with a comprehensive review of your financial situation, including income, assets, debts, and credit history. This allows us to recommend the most suitable conventional loan options for your specific circumstances and help you understand your purchasing power.
02
Pre-Approval
Getting pre-approved for conventional financing strengthens your position as a buyer and helps you understand your budget. We'll provide you with a pre-approval letter that demonstrates your financing capability to sellers and real estate agents, giving you a competitive edge in today's market.
03
Loan Application
Once you've found your ideal property, we'll guide you through the formal loan application process. Our team will help you gather all necessary documentation—including income verification, asset statements, and employment history—and ensure your application is complete and accurate.
04
Processing and Underwriting
During this phase, your conventional loan application undergoes detailed review. We'll order the appraisal, verify your financial information, and work closely with underwriting to address any questions or conditions. Our streamlined process means we can move quickly while maintaining thoroughness.
05
Closing
The final step in your conventional loan journey involves signing all necessary documents and officially taking ownership of your new home or completing your refinance. Our team will coordinate with all parties to ensure a smooth closing process. With most of our conventional loans closing in less than 20 days, you'll be celebrating your success before you know it.
Conventional Loan Requirements
Start Your Conventional Loan Journey Today
Ready to explore your conventional loan options? Coffee Mortgages is here to help you navigate the process with confidence and expertise. Our comprehensive approach ensures that your conventional financing decision supports your overall financial well-being and long-term success.
Contact us today to schedule your consultation and take the first step toward securing the ideal conventional loan solution for your needs. Whether you're a first-time homebuyer, looking to purchase a second home, building an investment portfolio, or exploring refinancing options, we're committed to providing the competitive rates, fast closings, and expert guidance you deserve.
Let Coffee Mortgages be your trusted partner in achieving your homeownership and financial goals through strategic conventional loan solutions.
Common Home Loan Questions
What's the difference between conventional and government-backed loans?
Conventional loans are not insured by the federal government, unlike FHA, VA, or USDA loans. This often means more flexible terms and the ability to cancel mortgage insurance once you reach 20% equity. Conventional loans typically require higher credit scores but offer competitive rates for qualified borrowers.
How much down payment do I need for a conventional loan?
Down payments can be as low as 3% for qualified first-time homebuyers and primary residences. Second homes typically require 5-10% down, while investment properties usually require 15-25% down. Larger down payments often result in better interest rates and lower monthly payments.
What is PMI and how can I avoid it?
Private Mortgage Insurance (PMI) is required on conventional loans when you put down less than 20%. PMI protects the lender if you default on the loan. The good news is that once you reach 20% equity through payments or appreciation, you can request to have PMI removed, unlike FHA loans where mortgage insurance typically remains for the life of the loan.
Can I use a conventional loan for an investment property?
Yes! Conventional loans are one of the best options for financing investment properties. You can purchase single-family rentals, multi-unit properties (up to four units), and build a real estate portfolio with conventional financing.
How fast can I close on a conventional loan?
Most of our conventional loans close in less than 20 days. The exact timeline depends on factors like appraisal scheduling, how quickly you provide documentation, and the complexity of your financial situation. We work efficiently to get you closed as quickly as possible.
What credit score do I need for the best rates?
While we can work with credit scores starting at 620, borrowers with scores of 740 or higher typically qualify for the best interest rates. If your score is lower, we can discuss strategies to improve it or explore loan programs that may work for your situation.
Can I use gift funds for my down payment?
Yes, conventional loans allow you to use gift funds from family members for all or part of your down payment. There are specific documentation requirements, and we'll guide you through the process to ensure everything is handled correctly.
