Mortgage Home Loans
NMLS ID# 417708
NMLS ID# 417703
NMLS ID# 1573750
NMLS ID# 417707
We make it easier to buy your home!
Buying a new home should be a pleasant experience. We’d like to help make it that way by taking the worry out of applying for a mortgage. Call us at 719-589-6653 to complete a quick prequalification with one of our friendly loan officers. You can also click here to submit an Online Loan Application.
Select a mortgage loan to fit your financial situation.
Fixed Rate. Your rate and principal and interest payment will stay the same for the entire loan. It’s easy to budget for this type of loan because your payment will always be the same (except for changing taxes and insurance). The interest rate on a fixed rate mortgage loan is generally higher than an adjustable rate mortgage.
These loans start with lower rates than fixed rate loans. We’ll let you know how much the rate can be adjusted over the life of the loan so you’ll know from the beginning the absolute maximum amount you would ever have to pay. If you will be moving in a few years, or if you think interest rates will be going down, you’ll want to consider an adjustable rate since monthly payments will start lower.
If you are a first-time homebuyer, you may qualify for our special interest rate discount for the first two years of the loan. Conditions apply. Ask a loan officer for details.
Once you know approximately how much home is in your price range, use our convenient Mortgage Loan Calculator to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes, insurance and mortgage life insurance may be added to your monthly payments.
Is Refinancing Right For You?
Generally, it’s a good idea for you to consider refinancing whenever the interest rate for mortgages is more than two percentage points below your present mortgage rate. Whether you apply with us for a new mortgage to buy the home you want, or to refinance your present mortgage, ask about a Home Equity Line of Credit. It can help you save on fees when you apply, interest when you want to borrow money, or on taxes at the end of the year. For more details, speak to one of our mortgage loan experts at 719-589-6653
At the present time, the bank’s primary lending area is the 6 counties of the San Luis Valley. This includes Alamosa, Conejos, Costilla, Mineral, Rio Grande, or Saguache County. The bank will occasionally make loans outside the Valley but within the State of Colorado to existing bank members.
San Luis Valley Federal Bank’s NMLS # 403374