Your Local Mortgage Lender
Located in Aurora, Colorado
Personalized Mortgage Experience
Herm Brocksmith offers personalized service and loan options you'll love. We shop multiple lenders to find the best rate and product for you, getting you into your dream home faster.
With wholesale interest rates and cutting-edge technology, we make the mortgage process seamless. Trust the experts who focus solely on mortgages. Support your local community and experience elite client service.
Let us help you achieve your homeownership dreams!
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Aurora, Colorado.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
The Truth About Reverse Mortgages That Most Seniors Never Hear and Why It Matters
The Truth About Reverse Mortgages That Most Seniors Never Hear and Why It Matters
A Product That Has Been Misunderstood for Too Long
Some financial products suffer from a reputation that does not reflect how they actually work and the reverse mortgage may be the clearest example of that problem in the entire mortgage industry. Since 1989 the Home Equity Conversion Mortgage commonly known as the reverse mortgage has helped millions of homeowners aged 62 and older live with greater financial peace, comfort, and independence while remaining in their own homes.
And yet the myths and misconceptions that circulate about the product continue to cause seniors to dismiss it without ever learning what it actually does and does not do.
Here is the truth.
You Keep Title and Ownership of Your Home
One of the most persistent and most damaging misconceptions about reverse mortgages is the idea that the bank takes ownership of your home when you get one. This is simply not true.
You maintain title and ownership of your property throughout the life of the reverse mortgage. You have all of the control. Not some bank. The reverse mortgage is a loan secured by your home equity just like a conventional mortgage is a loan secured by your home. The lender has a lien on the property but you own it and you retain all of the rights that come with that ownership.
You Are Not Required to Leave Your Home
As long as one borrower continues to live in the home as their primary residence a reverse mortgage does not require you to leave. Ever. The loan does not come due simply because time passes. It becomes due when the last borrower moves out, sells the property, or passes away. A senior who takes out a reverse mortgage at 65 and lives in their home for another 25 years is not required to make a payment or leave during that entire period.
That permanence of place is one of the most meaningful features of the product for seniors who want to age in their own home and maintain the stability and connection to community that long-term residence provides.
Reverse Mortgages Are Non-Recourse
This is the consumer protection feature that most people never hear about and it is significant. Reverse mortgages are non-recourse loans which means that neither you nor your heirs can ever owe more than the home is worth at the time the loan becomes due.
If the loan balance has grown beyond the value of the home when it is eventually sold the FHA insurance that backs the Home Equity Conversion Mortgage covers the difference. The lender cannot pursue you or your heirs for any amount above what the home sells for. That protection eliminates the risk of leaving a financial burden to family members and it makes the reverse mortgage a genuinely safe product for seniors who understand how it actually works.
What You Can Do With a Reverse Mortgage
As Herm Brocksmith explains as a certified reverse mortgage specialist the flexibility of how the product can be used is one of its most underappreciated features.
If you have an existing mortgage on your home a reverse mortgage can pay it off completely eliminating the monthly mortgage payment that has been consuming a significant portion of your fixed income budget. That monthly payment relief can be transformative for seniors whose income has not kept pace with the cost of living increases they have been experiencing.
The reverse mortgage can also be used to purchase a new home. A senior who wants to downsize, relocate closer to family, or move to a community that better fits their current lifestyle can use a reverse mortgage purchase to buy that new home without ever having a monthly mortgage payment. That option opens doors for seniors that conventional financing may not support given fixed income qualification requirements.
Get the Free 16-Page Guide With No Obligation
Herm Brocksmith is a certified reverse mortgage specialist who helps seniors understand whether this product is the right fit for their specific situation. He has prepared a free 16-page reverse mortgage guide that covers how the product works, what the protections are, and how to evaluate whether it makes sense for your circumstances with no obligation and no pressure attached.
Call, text, or email Herm Brocksmith at 720-471-2453 to receive the guide and have a straightforward conversation about whether a reverse mortgage could help you live more comfortably and financially stress-free in the years ahead.
Sources
HUD.gov ConsumerFinancialProtectionBureau.gov NRMLA.org Investopedia.com Forbes.com
Mortgage Calculator
See your total mortgage payments using the tool below.
| Year | Interest | Principal | Balance |
|---|
Social Media Links
YouTube
