a Division of American Pacific Mortgage Corporation NMLS 1850
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Home purchases are on the rise as home loan application volume recently ticked up and interested rates decreased.

This is according to recent information from the Mortgage Bankers Association. Specifically, a survey that covered a period ending on May 3, found that there was a 2.7 percent bump in mortgage applications, which comes after several weeks of declines. The boost was largely led by purchase applications.

At the same time, the average loan amounts continue to remain elevated.

For home buyers looking to jump into this window of opportunity in the Fort Collins market, it is important to keep in mind the steps to the buying process. It is wise to always begin with getting pre-approved for a home loan.


Because a pre-approval gives you an upper hand by allowing you to know the exact amount that you qualify for, what your mortgage payment would like every month, how much you would pay in insurance and taxes, and also will make your offer stronger in the eyes of a seller. That is because when you have the backing of a reputable lender in your market, there is less of a chance of something falling through during the closing process.

Once you get pre-approved, then you can move on the next steps of selecting your loan program that fits your particular financial picture and the loan application. This is when you can really dive into the real estate listings available in the Fort Collins market.

Some homeowners make the mistake of searching for homes before getting pre-approved. If you take this route, you run the risk of falling for a home that you really want in the neighborhood you are interested in, only to find out you don’t qualify for a high enough loan to purchase the house, or another bidder wins the listing because you still have to go through the loan approval process.

At Element Mortgage, we put educating homebuyers at the forefront of everything we do and making sure they are properly prepared to enter the real estate market is part of that.

If you have any questions about interest rates, Fort Collins real estate or the home loan process, don’t hesitate to contact one of our mortgage consultants. We will take the time to understand your financial goals and try to set you on a path toward achieving those goals.

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