Your local Colorado Springs Mortgage Broker.
Local, Local, Local. 719 Lending is a premier Colorado Springs mortgage broker. We believe in being transparent, friendly and 100% honest. For the best experience with mortgage loans in Colorado Springs combined with incredible rates, contact us today!
We Love Technology!
Our unique system allows you to buy a home completely using technology. It’s fast, it’s transparent and 100% at your fingertips. In addition to the ease of use, our system will provide constant updates through text, email, and our online portal. You always know where your loan is!
We Love Meeting Our Clients!
Although our technology allows you total freedom, we love to meet our clients face to face to go over mortgage loans in Colorado Springs. Being a local Colorado Springs mortgage lender and broker gives us the opportunity to know each other on a deeper level, and make sure all of your questions are answered. Our office is conveniently located in Downtown Colorado Springs.
Are you a Veteran?
We love being able to help our veterans with their goals of home-ownership! Did you know that VA home loans perform better than any other kind of loan? Watch our video on What sets Colorado VA Loans apart.
Working with a Colorado Springs mortgage broker.
It is important that your mortgage lender or broker listen to and answer your questions. Whether you are a first-time homebuyer or a seasoned pro, there are no bad questions. A good broker will take the time to make sure you understand everything about your loan. The 719 Lending team is here to guide you every step on your path to home ownership.
A key risk of a negative amortization loan, explained
Negative amortization means the amount you owe goes up even when you make payments, because the minimum payment does not cover the interest. The key risk: you can end up owing more on the mortgage than the home is worth, which makes the house harder to sell and raises the risk of foreclosure if you hit trouble.
How Unpaid Interest Affects Your Loan Balance | 719 Lending
Negative amortization means the loan balance goes up instead of down, because the payment is not large enough to cover the interest. The unpaid interest gets added to the amount you borrowed, and you can end up paying interest on interest. Here is how the mechanism works, why it matters for Colorado homeowners, and how to avoid it.
What Does Negative Amortization Mean? Plain-English Guide
Negative amortization means the amount you owe on a loan goes up even when you make payments, because the payment is not large enough to cover the interest. This guide explains how negative amortization happens, why it is risky, and how Colorado borrowers can avoid paying interest on interest.