Frequently Asked Questions

How long does the mortgage process take?

Processing and closing a mortgage usually takes between 7 and 30 calendar days. As your authorized Clarion Mortgage Capital Loan Officer we can give you a precise estimate based on your individual situation.

How much does it cost to close a mortgage?

For purchases, most mortgages require a minimum down payment as a percentage of the sales price or appraised value [whichever is less]. Moreover, some loans require a very low down payment [none with 100% financing]. Closing costs could include:

• Loan origination [varies with loan type and term]
• Discount points [optional - can be paid to lower your interest rate]
  
• Appraisal fee
  
• Credit report fee
  
• Flood zone determination fee
  
• Title insurance fee
  
• Deed recording fee
  
• Pest inspection fee [if necessary]
  
• Underwriting/document review fee
  
• Interim interest [varies with the closing date]
  
• Tax service fee
  

Additional fees may apply as warranted by your state and/or personal situation

Many of the same fees apply to refinance loans, but closing costs can often be included in the loan amount on refinances.

When should I apply?

Most borrowers apply once they have selected a property. However, you can get pre-qualified by Clarion Mortgage Capital so that you'll already know how much house you can afford before you start shopping.

Where do I apply?

Click here to apply for your mortgage today. If you prefer, call Christine Martinez with Clarion Mortgage Capital at 720-276-0299. Or you can simply send an email to us and we will contact you back as soon as possible. We will answer any questions you have and schedule a personal appointment at a time and location convenient for you.

What information will be required when I apply?

To speed the application process, here is some of the information you should gather:

• Sales contract
• Social Security number[s]
• Gross monthly income[s]
• Name/address of each employer for past two years
• W2 forms for past two years and year-to-date earnings
• Last two monthly checking/savings, 401k, or stock account statements with the brokerage name, address, account number and balance for each deposit account/brokerage account
• Residence address, including landlord and/or mortgagee address and account number, for the past two years
• Mortgagee name and address plus address and account number for other real estate owned
• Name, address, account number, balance and monthly payment for all outstanding debts
• If self-employed, last two years of personal and corporate tax returns, year-to-date profit and loss, business tax returns and balance sheet
• Be prepared to pay the credit report and appraisal fees
  
• VA loans only: Certificate of Eligibility or DD124