Michael Shotnik's Blog

When considering a home loan, a common question is:With mortgage rates rising and falling as they are now, is it better to get a fixed or adjustable rate mortgage?Michael Shotnik, Branch Manager of Colorado Mortgage answers, "It depends on the borrower. For a first time home-buyer, I’d still rec...

QM Law (Qualified Mortgages) goes into effect January 10th and requires mortgage lenders to make a good-faith determination of the borrower’s ability to repay the loan using verified information.This is also known as the government’s “Ability to Repay” Rule to tighten lending standards believed ...

How exciting! We've made it into the 2013 issue of National Mortgage Professional magazine's 40 Under 40. We're listed as a Mortgage Professional "making serious waves in the industry" and to keep an eye on as an innovator and originator.Check out the page and explore the full article of "The Fo...

2013 has certainly been a great year - and full of surprises. (Buying boom, government shutdown....)We are watching the market as tapering has begun to keep you informed of the daily volatile changes. Stay tuned to our blog for breaking news.However, now it's time to celebrate and appreciate time...

A two-year bipartisan budget deal was reached on Capitol Hill this week that would prevent another government shutdown and begin to humbly reduce the deficit over the next decade. The measure will be sent to the Senate next week and is expected to pass.Economic reports are still tentative, but Tr...

While searching for a new home, it's easy to assume a neighborhood is safe and quiet if it appears that way. If you are new to Colorado or a specific area, it's a good idea to do your research before buying a home.Additionally, Colorado urban and suburban neighborhoods are known for their destina...

Which type of loan is right for me? The perfect loan type would depend on your situation.  We’d ask questions such as down payment amount, estimated credit score, time period you expect to be in the home, and if you have any special qualifications or circumstances. These are initial questions tha...

11/15/13 *UPDATE* Today is the last day for 3% down with conventional financing. 

Colorado Mortgage is excited to start a new tradition of adopting a family this year with Denver Human Service's GIVE program.We have been assigned our family and with your help, not only can we provide the items they need, but also give food, holiday decorations, treats and unexpected gifts to ...

Anxious about buying a home? Who wouldn't be? This decision involves your family, finances, future and so many overwhelming choices. Many first-time home buyers feel pressured by agents and lenders, and are pushed into decisions quickly.   But YOU are in charge. You know your vision for a dream ...