Aurora Mortgage

Arnaiz Mortgage offers Aurora buyers competitive rates, fast closing options, and uncompromised customer service. Whether you’re shopping for a primary residence or investment property in Aurora, Colorado, our team works hard to get you approved for a mortgage rate that aligns with your financial goals.

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Our Aurora Mortgage Options

At Arnaiz Mortgage, we serve various buyer needs with multiple mortgage options available, including conforming, nonconforming, VA, and FHA loans. We also help Aurora homeowners with their refinancing needs.

Aurora Mortgage Process

Here at Arnaiz Mortgage, we ensure you enjoy a smooth mortgage process from start to finish. From a quick pre-approval to a seamless closing, you can rest assured we will keep you informed throughout the process. Our experienced team will work with you ensure you enjoy a stress-free mortgage process, from exceptional communication to answering all your questions. 

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Premium Aurora Mortgage Offers for Your Dream Property

The right loan helps buyers finance their dream Aurora home. At Arnaiz Mortgage, we offer a customized approach, meaning buyers get the attention and guidance they deserve when making one of the most significant financial decisions of their lives.

Your Guide to Aurora Mortgage Requirements

Interested buyers will need to meet the following requirements to qualify for a home loan:

  • Good Credit Score: A good credit score is usually a requirement for qualifying for a home loan. Loan officers typically look for a credit score of at least 600, but this may vary, depending on the lender.
  • At Least a 3.5% Down Payment: A minimum down payment of at least 3.5% is usually needed to close a mortgage loan. Some loan programs may require a higher down payment.
  • Sufficient Income: Loan officers require borrowers to show proof of income necessary to cover the monthly payments. Specific income requirements will depend on the borrower’s credit score, loan amount, the lender, and other factors.
  • Low Debt-to-Income Ratio: Loan officers also review a borrower’s debt-to-income (DTI) ratio, which is the debt amount compared to income. The lender considers the debt of the new loan, which can impact your approved amount.

Borrowers can complete a few steps to improve their eligibility before completing a loan application. Pull copies of your credit report and make any necessary changes, such as paying off debt or disputing errors.

Saving up for a down payment early can allow you to put more on the loan. A higher down payment can increase your eligibility odds and sometimes lead to a better interest rate. A bigger down payment can also reduce the need for mortgage insurance, reducing how much money you have to pay each month.

Aurora Assistance Programs and Grants

Down payment assistance programs and grants may be available to some Aurora, Colorado, buyers to help with closing costs. The City of Aurora has a Down Payment Assistance program for first-time homebuyers.

The U.S. Department of Housing and Urban Development (HUD) also provides assistance programs to Colorado buyers. These programs help buyers with low-income or less-than-perfect credit scores qualify for a mortgage loan.

Why Choose Arnaiz Mortgage for Your Aurora Mortgage Needs?

Arnaiz Mortgage is committed to helping buyers purchase their dream homes. Unlike other lenders, our team puts the customer first. We aim to make the entire process as simple and convenient as possible. Contact us today for a customized service.

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Frequently asked questions about Aurora Mortgage

  • How do I apply for a mortgage in Aurora, CO?

    Apply for a mortgage in Aurora, Colorado, with your preferred lender. Arnaiz Mortgage offers a streamlined online application that makes the process easy.

  • What types of mortgage loans are available in Aurora?

    Various mortgage types are available in Aurora, Colorado, including FHA, VA, and conventional loans. Arnaiz Mortgage helps applicants become homeowners by educating them on the available mortgages and helping them choose the best loan type.

  • Are there any first-time homebuyer programs in Aurora, CO?

    Yes, first-time homebuyer programs are available to customers who want to purchase a home in Aurora, Colorado. The Home Ownership Assistance Program is available to Aurora residents.

  • How can I get preapproved for a mortgage in Aurora?

    You can prepare for a mortgage in Aurora by improving your credit score, saving up for a down payment, and learning more about the process. Working with a lender from Arnaiz Mortgage can help you make the necessary financial changes to make progress toward becoming a homeowner.

  • What are the closing costs for buying a home in Aurora?

    Closing costs in Aurora vary, ranging between 2% to 4% of the purchase price. Closing costs are the fees associated with closing the transaction, including appraisal, inspection,

    origination fees, and administrative costs.

  • Can I qualify for an FHA loan in Aurora, CO?

    Buyers in Aurora, Colorado, may qualify for an FHA loan with the minimum credit score and DTI requirements. Work with a Colorado lender to determine your eligibility for an FHA loan.

  • What credit score is needed to get a mortgage in Aurora?

    A credit score of at least 580 is usually needed to qualify for a mortgage loan. However, credit score requirements may vary depending on the loan type, the lender, and the property purchase price.

  • How do I refinance my mortgage in Aurora, CO?

    Refinancing a loan in Aurora is similar to taking out a new loan. Contact Arnaiz Mortgage to review your finances and existing loan. Review available loan options and determine if refinancing makes sense. Arnaiz Mortgage even offers home equity loans, which allow you to borrow against existing home equity.

  • What is the average down payment for a home in Aurora

    The average down payment for a home in Aurora, Colorado, is between 3% to 5%. An FHA loan requires 3.5%, whereas traditional conventional loans may require as much as 20%

  • Are there any down payment assistance programs in Aurora, CO

    Yes, down payment assistance programs are available to some Aurora, CO, buyers. The City of Aurora offers first-time home buyers up to $10,000 in assistance toward closing costs, including a down payment.

  • How does the home appraisal process work in Aurora?

    Many lenders require a home appraisal as part of the closing process. The lender will send an appraiser to the home you want to purchase, who will conduct an appraisal service. The appraisal considers whether the accepted offer price aligns with Aurora, Colorado’s current real estate market. A lender will only finance up to the appraisal amount, offering financial protection for them and the buyer.