Welcome to Speak Straight Mortgage: Your Trusted Colorado Mortgage Broker Keeping It Real
At Speak Straight Mortgage, we pride ourselves on transparency and integrity as your trusted local Colorado Mortgage Broker.
Our mission, as a Colorado mortgage broker, is to tell the truth and treat you as we would want to be treated, ensuring a smooth and stress-free mortgage experience. We provide clear comparisons of fees, rates, costs, and expertise against other companies, empowering you to make informed decisions.
Whether you’re a first-time homebuyer or looking to refinance, our experienced team offers personalized guidance and competitive rates. Choose Speak Straight Mortgage for honesty, transparency, and your financial well-being. Contact us today to start your journey towards homeownership or refinancing with confidence.
Today’s Mortgage Rates: March 20, 2025
Staying informed about current mortgage rates is crucial whether you’re a first-time homebuyer or looking to refinance. Here’s a detailed look at today’s mortgage rates (March 20, 2025), covering purchase, refinance, and down payment assistance programs.
Purchase Rates
If you’re looking to purchase a home, here’s a breakdown of today’s rates for different loan types:
| Loan Type | Purchase Price | % Down | Credit Score | Rate | Points | APR | P&I Payment |
|---|---|---|---|---|---|---|---|
| FHA | $400,000 | 3.50% | 660+ | 5.75% | 1.2 | 6.56% | $2,453 |
| VA | $400,000 | 0.00% | 660+ | 5.75% | 1.39 | 6.10% | $2,384 |
| Conventional | $400,000 | 25% | 780+ | 6.50% | 0.3 | 6.55% | $1,896 |
Refinance Rates
For homeowners considering refinancing, here are today’s rates:
| Loan Type | Loan Amount | LTV | Credit Score | Rate | Points | APR | P&I Payment |
|---|---|---|---|---|---|---|---|
| FHA Streamline | $400,000 | 100% | 660+ | 5.63% | 0.74 | 6.46% | $2,526 |
| VA IRRL | $400,000 | 100% | 660+ | 5.63% | 0.91 | 5.78% | $2,303 |
| Conventional Refi | $400,000 | 80% | 780+ | 6.13% | 1.18 | 6.26% | $2,430 |
Down Payment Assistance Programs
Here’s a breakdown of down payment assistance programs. Please note that Smart Step, First Step, and First Generation are CHFA (Colorado Housing and Finance Authority) programs, while the 3.5% Grant is a separate assistance option.
CHFA Programs
| Program | Purchase Price | % Down | Credit Score | Rate | APR | P&I Payment |
|---|---|---|---|---|---|---|
| Smart Step 4% Silent Second FHA | $400,000 | 3.50% | 620+ | 6.625% | 7.53% | $2,692 |
| Smart Step 3% Grant FHA | $400,000 | 3.50% | 620+ | 7.125% | 8.04% | $2,823 |
| First Step / First Generation FHA | $400,000 | 3.50% | 620+ | 6.375% | 7.27% | $2,627 |
Other Down Payment Assistance
| Program | Purchase Price | % Down | Credit Score | Rate | APR | P&I Payment |
|---|---|---|---|---|---|---|
| 3.5% Grant | $400,000 | 3.50% | 660+ | 7.25% | 8.18% | $2,856 |
Key Considerations:
- Remember that mortgage rates can fluctuate daily. These rates are based on the information available on March 20, 2025.
- Credit scores, down payments, and loan types significantly impact your interest rate.
- Always consult with a qualified mortgage professional to get personalized advice.
Call to Action:
If you’re interested in learning more about mortgage rates or starting the home buying or refinancing process, contact us today!
