Loan Programs
The following is a partial list of programs offered by Boulder Valley Credit Union with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 303-415-3505.
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Conventional
Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and good credit are necessary.
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FHA Mortgage
Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little as a 3.5% minimum investment – and they can even finance “allowable” closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.
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Flex 97%
Many first-time home buyers have difficulty obtaining sufficient funds for the down payment on a new home. 3% down payment programs are still available for first time homebuyers.
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Jumbo Loans
Offers 30 and 15 year fixed rate mortgage and competitive ARM products for loan amounts greater than $417,000.
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Jumbo Conforming Mortgage
As authorized by the Economic Stimulus Act of 2008 and to help serve more borrowers in many high-cost areas, we now offer Jumbo-Conforming Mortgages. The maximum loan amount is determined by the area where the property is located.
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Challenged Credit Loans
These mortgages are for borrowers with less-than-perfect credit. They can vary from slightly damaged credit to severely damaged. These loans can be difficult to obtain in today's market.
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Second Mortgage Loans
Subordinate to the first mortgage, these loans offer the borrower the ability to get money for home improvements, debt consolidation or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.
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