From the Desk of Brian G. Murphy

Manager / Senior Mortgage Planner / Colorado Attorney

Brian & The Front Range Mortgage Team recognized by the Five Star Professional organization as a 2015 award recipient – Denver 5-Star Mortgage Professional.

FullSizeRender
Brian & The Front Range Mortgage Team recognized by the Five Star Professional organization as a 2015 award recipient - Denver 5-Star Mortgage Professional.  | read this item

FullSizeRender

Cordially,

Brian G. Murphy, JD BA
Manager / Senior Mortgage Planner
Front Range Mortgage, LLC
NMLS #378844 / CO MLO #MB100020928

(303) 524-9907 Denver
(719) 540-2020 Colorado Springs
(877) 524-9269 Fax


Denver has “one of the worst rental affordabilities across the entire nation”

Denver has "one of the worst rental affordabilities across the entire nation"  | read this item

The Denver Post substantials our read of the Denver rental and home markets:

“Denver-area rents are soaring three times faster than the U.S. average — a trend making Denverites more likely than their national counterparts to give up rental payments in favor of a mortgage.

The movement is occurring even though prospective homebuyers face an entirely separate set of challenges with rising home prices, low inventories for sale and the difficulty of coming up with down payments.

“In Denver you have one of the worst rental affordabilities across the entire nation,” said Svenja Gudell, Zillow’s senior director of economic research. “Rents are rising like crazy, but housing appreciation also is very strong.”

Rents in Denver have soared in the past year. While national averages for a two-bedroom unit are up 2.7 percent, prices in the Denver area have jumped 9 percent since last year. That growth far outpaces other major metro areas.

A recent report from Apartment List found that the city of Denver’s average rent of $1,390 for a two-bedroom unit makes it the 11th-most-expensive major U.S. city.

On balance, Gudell said, many renters see home ownership as a preferred option — if they can afford it — because they view gains in housing values as sustainable.

The Zillow survey polled 180 Denver-area renters. Fifty percent described themselves as “confident” in their ability to afford a home, compared to 38 percent who expressed confidence in a broader national survey.

Would-be buyers will have their work cut out.

Denver’s hot for-sale market has driven costs beyond the reach of many low- and moderate-income households. The median sale price in Denver jumped 17 percent in the past year, from $280,000 to $329,000.

“There is a severe shortage of homes under $300,000,” said Anthony Rael, a Re/Max Alliance broker and chairman of the market trends committee of the Denver Metro Association of Realtors.

Despite the tight supply, he sees many renters ready to jump into the ownership market.

“They see paying rent as money going out of the window,” Rael said.

Relatively low mortgage rates and rising household incomes are helping mitigate a portion of the sticker shock that first-time buyers experience when they jump into the market.

Rael noted that in addition, lenders are easing credit requirements and some buyers qualify for down-payment assistance programs.

He cautioned prospective buyers to resist the simple temptation of comparing their monthly rent with monthly principal and interest payments on a mortgage. An equitable comparison needs to take into account home ownership costs including property taxes, insurance and condominium and homeowner association fees.

http://www.denverpost.com/business/ci_27707997/soaring-rents-denver-have-tenants-thinking-more-about

Call or write for a free, no obligation Rent Vs. Own comparison to see how much you might save (??) by owning vs. renting.

Cordially,

Brian G. Murphy, JD BA
Manager / Senior Mortgage Planner
Front Range Mortgage, LLC
NMLS #378844 / CO MLO #MB100020928

(303) 524-9907 Denver
(719) 540-2020 Colorado Springs
(877) 524-9269 Fax


A kind note from the Executive Director of Operation Homefront Rocky Mountains. Help us help out a Coloradan veteran or active duty service member in need.

IMG_2305
A kind note from the Executive Director of Operation Homefront Rocky Mountains. Help us help out a Coloradan veteran or active duty service member in need.  | read this item

IMG_2305

Kind note from the Executive Director of Operation Homefront Rocky Mountains– as we were so glad as to give something back to their great organization. Visit their page to help out a Coloradan veteran or active duty service member in need.

Cordially,

Brian G. Murphy, JD BA
Manager / Senior Mortgage Planner
Front Range Mortgage, LLC


35% of Colorado homeowners don’t know their present interest rate!!!

35% of Colorado homeowners don't know their present interest rate!!!  | read this item

Per a Bankrate survey, 35% of homeowners don’t know their present interest rate!!!

I know, life get busy… but if you think that you have a rate from 4.00% or higher, or you are paying a penny in mortgage insurance- you should spend a few minutes to see if you can save $$$$ on your mortgage (and skip a mortgage payment or two).  Every week we are helping Colorado homeowners from Ft. Collins to Colorado Springs save hundreds on their mortgages (lower rates and dropping mortgage insurance).  We have a program to drop your mortgage insurance even if you have only 3% equity (call for details)!

Call us as (303) 500-1900 or email Brian@FrontRangeMortgage.com.

In the Clear Channel Studios after finishing my spot on KHOW AM 630 Saturday morning. Great show with Barry & Larry on mortgage tip of the week - don't move money prior your closing!

In the Clear Channel Studios after finishing my spot on KHOW AM 630 Saturday morning. Great show with Barry & Larry on mortgage tip of the week – don’t move money prior your closing!

 

https://homes.yahoo.com/news/third-mortgage-holders-dont-know-172800141.html

Cordially,

Brian G. Murphy, JD BA
Manager / Senior Mortgage Planner
Front Range Mortgage, LLC

Denver: (303) 524-9907
Colo. Springs: (719) 540-2020


Updated 2015 Conforming & VA Loan Limits (Colorado)

Updated 2015 Conforming & VA Loan Limits (Colorado)  | read this item

Conforming and VA loan limits (they are the same as of thirteen days ago):

$424,350 for Denver metro counties
$456,550 for Boulder
$417,000 for El Paso

Call or write as we can help get you in your new home in 2015!

Cordially,

Brian G. Murphy, JD BA
Manager / Senior Mortgage Planner
Front Range Mortgage, LLC
NMLS #378844 / CO MLO #MB100020928

(303) 524-9907 Denver
(719) 540-2020 Colorado Springs
(877) 524-9269 Fax


Colorado mortgage rates for first week of 2015 & 3% down payment with No Mortgage Insurance

Colorado mortgage rates for first week of 2015 & 3% down payment with No Mortgage Insurance  | read this item

Colorado mortgage rates for first week of 2015 & 3% down payment with No Mortgage Insurance.  This loan is much better than an FHA for many moderate to high credit buyers (660+).

In this example my buyer would save over $170 a month (over $2,000 a year) over the FHA mortgage option.  Great way for Colorado buyer to get into their new homes in 2015!

 


Jim Rohn: 6 Essentials of the Good Life

Jim Rohn: 6 Essentials of the Good Life  | read this item

Jim Rohn, my favorite business philosopher, on 6 essentials you might consider as you put together your 2015 New Year’s Resolutions (and beyond):

 

Rohn: A Good Life Contains These 6 Essentials

The ultimate expression of life is not a paycheck. The ultimate expression of life is not a Mercedes. The ultimate expression of life is not a million dollars or a bank account or a home. The ultimate expression of life is living a good life.Here’s what we must ask constantly, “What, for me, would be a good life?” And you have to keep going over and over the list—a list including areas such as spirituality, economics, health, relationships and recreation.

So, what would constitute a good life? Jim Rohn has a short list:

1. Productivity. You won’t be happy if you don’t produce. The game of life is not rest. Yes, we must rest, but only long enough to gather strength to get back to productivity.

What’s the reason for the seasons and the seeds, the soil and the sunshine, the rain and the miracle of life? It’s to see what you can do with it—to try your hand to see what you can do.

2. Good friends. Friendship is probably the greatest support system in the world, so don’t deny yourself the time to develop it. Nothing can match it. It’s extraordinary in its benefit.

Friends are those wonderful people who know all about you and still like you. I lost one of my dearest friends when he was 53—heart attack. As one of my very special friends, I used to say that if I was stuck in a foreign jail somewhere accused unduly, and, if they would allow me one phone call, I would call David. Why? He would come and get me. That’s a real friend—somebody who would come and get you.

And we’ve all got casual friends, friends who, if you called them, they would say, “Hey, if you get back, call me and we’ll have a party.”

You’ve got to have both real friends and casual friends.

Click here to read the rest (Jim Rohn)

 


Lessons from Krav Maga

Broken window at Krav Maga Class - Broomfield, CO
See what happens at Krav Maga class when two brothers spar? Broken glass and a trip to the ER (on the coldest night of the year)!  | read this item

See what happens at Krav Maga class when two brothers spar? Broken glass and a trip to the ER (on the coldest night of the year)!

See what happens at Krav Maga class when two brothers spar? Broken glass and a trip to the ER (on the coldest night of the year)!


How many FICO scores do you need to buy a home in Colorado?

How many FICO scores do you need to buy a home in Colorado?   | read this item

How many FICO credit scores do you have?  Would you believe- 53?  There 8 versions of the most famous FICO (for Fair, Issac & Co), with a 9th version in prep, with different versions in different industry to the three major credit bureaus (Experian, Equifax and Transunion).   This is one of the reasons you can have such variation on your credit score (again- this should always be “plural”- but is most oft spoken as if it is a single, static score).

http://www.bankrate.com/finance/credit/how-many-fico-credit-scores-do-you-have.aspx
We encounter such confusion with Colorado home buyers on a daily basis- software updated from Fair Issac Co. (FICO- a private company) oft has greater influence over your mortgage approval than Fannie/Freddie regs, CFPB, or fed law (FCRA, FDCPA).  Smart Colorado homebuyer’s tip- start with credit review and consultation long before you hope to buy.  Call or write Front Range Mortgage and we will pull your latest effective 3-bureau pull at not cost- allowing you to know your present scores satisfy the latest Fannie or Freddie guidelines before you list your present home for sale.

Cordially,

Brian G. Murphy
Manager / Senior Mort. Planner
Front Range Mortgage, LLC

(303) 524-9907 Denver
(719) 540-2020 C. Springs


Great Google review from a trusted Colorado partner

Great Google review from a trusted Colorado partner   | read this item

“Brian and Erin at Front Range Mortgage are outstanding, professional, dedicated, very responsive, and are able to offer the best pricing and lowest fees! Being a real estate title insurance sales executive of 22+ years, I say that with some degree of certainty and experience. Yet despite being “in the industry”, I assumed I couldn’t lower my already low interest rate, yet Brian and Erin lowered it by 1.125% and with no fees! What greater compliment to a mortgage broker, that among the dozens of brokers and bankers whom I work alongside, Front Range Mortgage was the company I chose to handle my personal refinance. Rarely am I “blown away” by great service, but Brian and Erin blew me away!”



Colorado Mortgage Broker - Brian Murphy - Front Range Mortgage DBA: United Mortgage Funding, LLC - Colorado Mortgage License MB100020928 To check the license status of your mortgage broker visit http://www.dora.state.co.us/real-estate/index.htm (DORA) Web Site Privacy Notice - Web Site Conditions of Use