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  Rob’s Mortgage Loans

Conventional Loan Colorado | Award-Winning Mortgage Broker

Conventional Loans

Conventional loans represent a cornerstone of the mortgage industry, offering flexibility and stability to borrowers seeking financing for home purchases in Colorado. Unlike government-backed loans such as FHA or VA loans, conventional loans are not insured or guaranteed by any government agency. Instead, they are backed by private lenders or investors.

Colorado residents often opt for conventional loans due to their flexibility and suitability for various types of properties. With a booming real estate market and diverse housing options ranging from urban condos to rural estates, conventional loans provide borrowers with the freedom to finance homes across the state. Additionally, Colorado’s robust economy and competitive interest rates make conventional loans an attractive

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Key Features and Advantages:

  • Competitive Interest Rates: Conventional loans often offer competitive interest rates compared to other loan types, especially for borrowers with strong credit histories.
  • Flexible Loan Terms: Borrowers can choose from various loan terms, including 15-year and 30-year fixed-rate mortgages, as well as adjustable-rate mortgages (ARMs).
  • No Mortgage Insurance Premiums (with 20% down payment): Borrowers who can afford a down payment of at least 20% typically avoid the need for private mortgage insurance (PMI), reducing their monthly mortgage payments.
  • Higher Loan Limits: Conventional loans may have higher loan limits compared to government-backed loans, making them suitable for financing higher-priced homes.
Conventional Home Loans

Loan Amounts and Limits

In Colorado, conventional loan limits refer to the maximum amount that borrowers can borrow while still qualifying for a conventional mortgage. These limits are set by the Federal Housing Finance Agency (FHFA) and are adjusted annually based on changes in home prices. The FHFA’s conforming loan limits for 2024 in Colorado are $766,550. These limits vary by county to account for differences in home prices across the state.
Loan amounts for conventional loans in Colorado are determined by various factors, including the borrower’s income, creditworthiness, debt-to-income ratio, and the property’s value. Lenders typically use underwriting guidelines established by Fannie Mae and Freddie Mac to assess borrowers’ eligibility and determine the maximum loan amount they can afford.
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Interest Rates and Mortgage Rates in Colorado

Interest rates for conventional loans in Colorado are influenced by several factors, including:

  • Economic Conditions: Overall economic conditions, including inflation, employment rates, and economic growth, can impact interest rates.
  • Federal Reserve Policy: The Federal Reserve’s monetary policy decisions, including changes to the federal funds rate, can influence mortgage rates.
  • Creditworthiness: Borrowers’ credit scores and credit histories play a significant role in determining the interest rates they qualify for. Generally, borrowers with higher credit scores receive lower interest rates.
  • Loan Term: The term of the loan (e.g., 15-year, 30-year) can affect interest rates, with shorter-term loans typically offering lower rates.
  • Loan Type: 2/1 buydowns, First Time Home Buyers, 3% down programs, etc
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Types of Conventional Loans

Fixed-Rate Mortgages:
Fixed-rate mortgages offer borrowers the stability of a consistent interest rate and monthly payment throughout the life of the loan. This makes them a popular choice for borrowers who prefer predictable housing expenses and plan to stay in their homes long-term. Fixed-rate mortgages are available in various terms, including 15-year and 30-year options, allowing borrowers to choose the term that best fits their financial goals.

Adjustable-Rate Mortgages (ARMs):
Adjustable-rate mortgages (ARMs) feature interest rates that adjust periodically based on market conditions after an initial fixed-rate period. ARMs typically offer lower initial interest rates than fixed-rate mortgages, making them attractive to borrowers who plan to sell or refinance their homes within a few years. However, ARMs carry the risk of interest rate fluctuations, which can lead to changes in monthly mortgage payments over time.

Jumbo Loans:
Jumbo loans are conventional mortgages that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. In Colorado, jumbo loans are commonly used to finance high-priced homes or properties in luxury markets. Jumbo loans typically require larger down payments, higher credit scores, and stricter underwriting criteria compared to conforming loans. Borrowers considering a jumbo loan should consult with a mortgage expert to explore their options and ensure they meet the eligibility requirements.

Application Process

Steps Involved in Applying for a Conventional Loan:

Prequalification: Borrowers provide basic financial information to the lender, who assesses their eligibility for a loan and provides an estimate of how much they can borrow.


Borrowers submit detailed financial documentation, including income verification, asset statements, and credit reports, to the lender for review. Once preapproved, borrowers receive a conditional commitment for a maximum monthly payment based on down payment and purchase price.

Loan Application:

Borrowers complete a formal loan application, providing additional documentation as required by the lender.


The lender evaluates the borrower’s financial information, property appraisal, and other relevant factors to determine whether to approve the loan.

Loan Approval:

If the loan is approved, the lender issues a loan commitment letter outlining the terms and conditions of the loan.

Documentation Required:

Documentation required for a conventional loan application may include:

  • Proof of income (pay stubs, W-2s, tax returns)
  • Asset statements (bank statements, retirement account statements)
  • Identification documents (driver’s license, passport)
  • Employment verification
  • Proof of homeowners insurance
  • Additional documents as requested by the lender

Timeline for Approval and Funding:

The timeline for approval and funding varies depending on factors such as the lender’s processing times, the complexity of the loan application, and the availability of required documentation. In general, the process can take anywhere from 30 to 45 days from application to closing. However, borrowers can expedite the process by promptly providing all requested documentation and staying in communication with their lender throughout the process.

Why Choose Rob’s Mortgage Loans for Your Conventional Loan Needs:

At Rob’s Mortgage Loans, we understand that securing a conventional loan is a significant financial decision. Here’s why you should choose us for your mortgage needs:

With over 30 years of experience in the mortgage industry, Rob possesses the knowledge and expertise to guide you through the loan process with confidence.

A Variety of The Best Mortgage Lenders
Rob’s Mortgage Loans is an independent mortgage broker. I have many choices of wholesale lenders to receive pre-approvals and compare rates. Lenders I partner with include mortgage banks, credit unions, retail banks, and direct lenders.

Lowest Possible Rates
Because I receive offers from multiple lenders, I can compare the same loan’s interest rates, origination fees, and other costs. I then break down each option so you can select a mortgage with the lowest possible overall rates and fees.

Resources and Tools

Our Commitment to Personalized Service and Expertise:

At Rob’s Mortgage Loans, we go above and beyond to ensure that you receive the highest level of service and expertise. From your initial consultation to the closing table, we are dedicated to helping you navigate the complexities of the mortgage process with ease.

Mortgage Calculator:

Use our mortgage calculator to estimate your monthly mortgage payments, explore different loan scenarios, and determine how much home you can afford.

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FAQs about Conventional Loans:

Have questions about conventional loans? Check out our frequently asked questions section for answers to common queries about eligibility requirements, loan terms, and more.

Q: What are conventional loans and how do they differ from government-backed loans?

A: Conventional loans are mortgage loans that are not insured or guaranteed by any government agency, unlike FHA or VA loans. They are backed by private lenders or investors, offering borrowers flexibility and stability in financing their home purchases.

Q: What factors influence interest rates for conventional loans in Colorado?

A: Several factors influence interest rates for conventional loans in Colorado, including economic conditions such as inflation and employment rates, Federal Reserve policy decisions, borrowers’ creditworthiness, and the loan term.

Q: What are the typical closing costs associated with a conventional loan in Colorado?

A: Typical closing costs for a conventional loan in Colorado may include loan origination fees, appraisal fees, title insurance, escrow fees, attorney fees, recording fees, prepaid property taxes and insurance, and homeowners association (HOA) fees if applicable.

Q: How long does the conventional loan application process typically take from start to finish?

A: The timeline for approval and funding of a conventional loan varies but generally takes anywhere from 30 to 45 days from application to closing. However, this timeline can be affected by factors such as the lender’s processing times and the complexity of the loan application.

Q: Why should I choose Rob’s Mortgage Loans for my conventional loan needs in Colorado?

A: Rob’s Mortgage Loans offers over 30 years of experience in the mortgage industry, access to a variety of wholesale lenders to compare rates, the commitment to providing the lowest possible rates, personalized service, expertise, and a track record of satisfied clients.


from satisfied clients

But don’t just take our word for it. Here’s what some of our satisfied clients have to say about their experience with Rob:

“Working with Rob’s Mortgage Loans was a breeze! Their team was knowledgeable, responsive, and genuinely cared about helping us find the right loan for our needs.”

– John and Sarah T.

“”I can’t thank Rob’s Mortgage Loans enough for their outstanding service. They made the home buying process stress-free and helped us secure a competitive interest rate. Highly recommend!”

– David and Emily G.

Why Choose An Independent Mortgage Broker?


Banks and mortgage corporations often have higher rates and fees than independent mortgage brokers because they have to pay executive salaries, choose to pay higher marketing costs, and have higher overheads. As an independent mortgage broker, I strategically set my commission lower. With lower overhead and a choice of wholesale lenders, the savings are passed on to the consumer.


Independent brokers aren’t tied to a single bank or lender. This means they can access more products through a choice of lenders. I also have the ability to select wholesale lenders that want to earn your business with lower rates and lower fees. As an independent broker, I can think outside the box and find unique loan offerings that specifically match each homeowner’s situation.


When you work with an independent mortgage broker, you simplify the borrowing process. Along with impeccable customer service, our loan originator will be free of bank and corporate bureaucracy, meaning they can focus on your loan and wrap things up faster. Everything goes straight to the decision-maker, and you have individualized support every step of the way. This also means I can get you into a home sooner.


Each independent broker oversees their process and the people they work with. Working with an experienced, trustworthy, competent, available, and responsive mortgage broker with strong references ensures a higher success rate and a better overall experience. You won’t get a different person whenever you call or someone reading a script. As an independent broker, I am here for you and invested in building a lasting relationship with you.

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Rob’s Mortgage Loans stands as a premier mortgage brokerage committed to delivering tailored services and professional advice to clients pursuing Conventional Home Loans in Colorado. With more than 30 years of industry experience, we are known for our excellence and integrity, assisting numerous individuals and families in realizing their dreams of homeownership.


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Ready to explore your options for USDA Rural Loans? Contact Rob today. Whether you’re a first-time homebuyer or looking to refinance, we’re here to help you achieve your homeownership goals.