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Types of Mortgages

We have gathered basic information on the mortgage loan options currently available. Let our team of Realtors® be a resource to help you understand the pros and cons of each loan option and connect you with an experienced and reliable lender.

Fixed or Adjustable Rate – all loans will fit into one of these categories, or a combination

  • Fixed-rate mortgage loans will maintain the same interest rate for the term of the loan. Most of the loans will have the same monthly payment, month after month, and year after year. Advantage: payments and rate never change. Disadvantage: interest rate is typically higher in comparison to the initial rate of an ARM.
  • Adjustable-rate mortgage loans (ARMs) will have an interest rate that changes at various times over the term of the loan. Most change annually after a fixed-rate period of time (referred to as a “hybrid” option). Advantage: interest rate starts at a lower rate than a fixed-rate loans. Disadvantage: adjustments are uncertain and payments may increase over time.

Government-Insured or Conventional – you will need to decide between these two mortgage types

  • Conventional – loans are not insured or guaranteed by the federal government.
  • FHA – loans are insured by the Department of Housing and Urban Development (HUD). They are available to all types of buyers, including first-time. Advantage: down payment as low as 3.5%. Disadvantage: you will pay mortgage insurance, which increases your monthly payment.
  • VA – loans are insured by the US Department of Veterans Affairs. These loans are available to active and retired veterans. Advantage: borrowers may receive 100% financing. Disadvantage: there may be no initial equity in the home.
  • USDA/RHS – loans are insured by the US Department of Agriculture. These loans are available to “rural residents” with a steady and modest income (no higher than 115% of the adjusted area median income which varies by county) and unable to qualify for conventional loans.

Jumbo or Conforming – this distinction is based on the amount you are trying to borrow

  • Conforming – loans that “conform” to pre-established criteria and meet underwriting guidelines of Fannie or Freddie Mac (government-controlled corporations that buy loans from the lenders and then sell them to investors).
  • Jumbo – loans exceed limits established by Fannie Mae and Freddie Mac. Borrowers typically need excellent credit and larger down payments. Interest rates are generally higher.

Our Listings

  • Sold
    3256 Waterfront Dr

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    Beautiful ranch-style home in Forest Lakes community near Bristlecone Lake! Forest Lakes hosts summer activities include a fishing derby, summer concert series, and movie...

    • 5
    • 4
    • 3219 Sq Ft
    Open HouseJul 27, 1:00 pm - 4:00 pm
    Hosted BySheri Reynolds 303-548-0763
  • Sold
    12185 E Iowa Dr

    Aurora, CO 80012


    This charming 4 bedroom, 2 bath, bi-level is waiting for your personal touch. It has been freshly painted, new carpet throughout, new light fixtures,...

    • 4
    • 2
    • 1679 Sq Ft
    Open HouseJul 20, 1:00 pm - 4:00 pm
    Hosted BySue Priest 303-548-0643
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    1861 Bel Lago View

    Monument, CO 80132


    Rare opportunity to live steps away from Monument Lake and within walking distance to historic downtown Monument. The front covered porch welcomes you into...

    • 4
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    • 2834 Sq Ft
  • Sold
    40755 County Road 21

    Elizabeth, CO 80107


    Sleek, Stunning and Private. This beautiful equestrian home is ideally tucked back off of CR 21 giving you the peace and tranquility of country...

    • 4
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    • 4909 Sq Ft
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    10418 Tanglewood Rd

    Franktown, CO 80116


    This spectacular ranch home offers a MILLION DOLLAR VIEW!! Enjoy the setting sun over the mountains from either the upper deck or the lower...

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    • 5159 Sq Ft
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More For Sale Listings


  • Don’t try to purchase a home without support of a licensed Realtor®
  • Benefit from the expertise of a professional
  • Seller typically pays the commission
  • Review your options with a professional lender
  • Get pre-approved
  • Determine what you can afford
  • Fixed or adjustable rate
  • Conventional or government backed loans
  • Jumbo or conforming options
  • Determine the best option for you
  • Start your research early
  • Review your budget
  • Clean up credit report
  • Set aside funds for down payment
  • Research available grants and programs
  • Establish an all-inclusive budget
  • Check your credit FICO score and clean up any issues
  • Start a new home fund

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