You won’t go grocery shopping with out knowing how much you can spend, don’t go house hunting with out a pre-qualification letter from a Colorado state qualified lender.
You should get a pre-qualification letter from a qualified, State of Colorado recognized & licensed mortgage lender. This can be as easy as a phone call. You will be qualified for a certain amount of money and type of loan. This pre-qualification will give you an idea of what kind of property a lender will or won’t lend you money for. For instance if you need an FHA loan the letter will say that, or if the lender won’t lend money on properties over a certain size. Consult with your bank as one option, then consult with a few lenders to make sure you are getting the loan you need and that you are going to be happy with all the terms of that loan.
Go to DORA Colorado to find license information on qualified lenders within the State of Colorado: http://www.dora.state.co.us/
Published on: Oct 7, 2010 updated Oct 19,2015
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