We know Colorado mortgages

These mortgage loans have a rate and fixed principal and interest payment that stay the same throughout the lifetime of the loan. We offer fixed rate mortgages with 10, 15, 20, or 30 year terms. Consider this type of loan if:

• You want consistent payments year after year
• You are planning to stay in the home for a long period of time
• You anticipate interest rates will rise

ARMs allow you to start with a lower rate than fixed-rate loans, but the rate can adjust up or down periodically. Elevations' ARMs start with an introductory term of 3, 5, 7, or 10 years. Consider this type of loan if:

• You desire greater cash flow management options
• You are planning to stay in the home for a short period of time
• You expect your earnings to increase
• You anticipate that interest rates will drop
• You are confident you can handle higher payments if the rate increases

3- and 5-year ARMs

• Maximum of 2% initial rate change after introductory term
• Maximum of 1% rate change every 6 months
• Maximum of 5% total rate change over the life of the loan

7 and 10-year ARMs

• Maximum of 5% initial rate change after introductory term
• Maximum of 1% rate change every 6 months
• Maximum of 5% total rate change over the life of the loan

If your dream house requires a loan amount higher than the conforming loan limit in your county, Elevations will work with you to find the best options for financing. We offer Fixed Rate and Adjustable Rate Jumbo Mortgages.

Consider a Fixed Rate Jumbo Mortgage with 15, 20, or 30 year terms if:

• You want consistent payments year after year
• You are planning to stay in the home for a long period of time

Consider an Adjustable Rate Jumbo Mortgage with 3, 5, 7, or 10 year terms if:

• You desire greater cash flow management options
• You are planning to stay in the home for a short period of time
• You expect your earnings to increase
• You anticipate that interest rates will drop
• You are confident you can handle higher payments if the rate increases

A Federal Housing Administration (FHA) loan is backed by private mortgage insurance (PMI), which is often paid by the borrower. In general, FHA-insured loans are easier to qualify for. Consider this type of loan if:

• You are a first-time homebuyer
• A lower down payment option fits your budget
• You are just beginning to build your credit
• Loan limit amounts vary by county

VA loans offer special benefits to veterans, active-duty service members, National Guard, and Reserve members and surviving spouses. Benefits include:

• No down payment
• No private mortgage insurance (PMI)
• More competitive interest rates
• Flexible credit criteria

Elevations Interest-only ARM is an adjustable-rate mortgage that applies initial payments to the interest only for the first several years of the loan. Elevations interest-only loans start with an introductory term of 5, 7, or 10 years. Consider this type of loan if:

• You desire greater cash flow management options
• You are planning to stay in the home for a short period of time
• You expect your earnings to increase
• You anticipate that interest rates will drop
• You are confident you can handle higher payments if the rate increases

5-year interest-only ARM

• Maximum of 2% initial rate change after introductory term
• Maximum of 1% rate change every six months
• Maximum of 5% total rate change over the life of the loan

7 & 10-year interest-only ARMs

• Maximum of 5% initial rate change after introductory term
• Maximum of 1% rate change every six months
• Maximum of 5% total rate change over the life of the loan

This mortgage loan closes in as quickly as 15 business days. No appraisal is needed with this product. Consider this type of loan if:

• You want a no closing cost option
• You are looking to close quickly on the property
• Loan amounts up to $250,000
• Refinance loans only

The United States Department of Agriculture (USDA) offers home loans for real estate purchases in small cities and rural areas in Colorado.

Our mortgage interest rates are calculated using a combination of factors including the amount you would like to borrow, the appraised value of the home, the type of home, and your credit score. In only a few steps, our free, online tool introduces options for refinancing and home equity lending. Elevations Mortgage Trailhead Tool

If your down payment is less than 20%, you will pay private mortgage insurance (PMI) to insure the lender against losses in the event of foreclosure. The amount of coverage and premium are based on loan-to-value (LTV) and your credit score, with a maximum LTV of 97%. Payment options for PMI include a one-time mortgage insurance premium or monthly payments. To find out more about your down payment options and PMI, please contact our Mortgage Team.

Please visit our Mortgage Resources to find out more about escrow accounts, property taxes, and homeowners insurance.

Elevations offers complimentary access to Talk’uments, a tool that can translate your loan estimate and closing disclosure into Spanish, Korean, or Mandarin. This tool works to individualize the information regarding your specific loan.

If you want to utilize this tool, please contact your Elevations Mortgage Loan Officer.