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 youβre 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.
Market Report Comparison: 2/24/2025 vs. 3/3/2025
π Speak Straight Mortgage β Matthew Wentz
π NMLS #1852397
π‘ Reminder: All programs (except CHFA Down Payment Assistance) come with 0 lender fees!
π‘ Purchase Loans
FHA $400,000 purchase price, 3.5% down, 660+ credit score:
π Rate: Decreased from 6.13% β 5.75%
π Points: Increased from 0.00 β 0.91
π APR: Decreased from 6.82% β 6.53%
π P&I Payment: Decreased from $2,547 β $2,453
VA $400,000 purchase price, 0% down (first use), 660+ credit score:
π Rate: Decreased from 6.13% β 5.75%
π Points: Increased from 0.30 β 1.10
π APR: Decreased from 6.38% β 6.07%
π P&I Payment: Decreased from $2,483 β $2,384
Conventional $400,000 purchase price, 25% down, 780+ credit score:
β
Rate: 6.50% (unchanged)
π Points: Decreased from 0.50 β 0.30
π APR: Decreased from 6.57% β 6.55%
πΈ P&I Payment: Remains $1,896
π° Refinance Loans
FHA Streamline $400,000 base loan amount, 660+ credit score:
β
Rate: 5.63% (unchanged)
π Points: Decreased from 1.00 β 0.47
π APR: Decreased from 6.48% β 6.43%
πΈ P&I Payment: Remains $2,526
VA IRRL $400,000 base loan amount, 660+ credit score:
β
Rate: 5.63% (unchanged)
π Points: Decreased from 1.15 β 0.60
π APR: Decreased from 5.80% β 5.75%
πΈ P&I Payment: Remains $2,303
Conventional Refi $400,000 loan amount, 80% LTV, 780+ credit score:
π Rate: Decreased from 6.38% β 6.13%
β
Points: 1.00 (unchanged)
π APR: Decreased from 6.50% β 6.24%
π P&I Payment: Decreased from $2,495 β $2,430
πΈ Down Payment Assistance (FHA $400,000 purchase price, 3.5% down, 660+ credit score)
Smart Step 4% Silent Second FHA:
π Rate: Decreased from 6.875% β 6.625%
π APR: Decreased from 7.79% β 7.53%
π P&I Payment: Decreased from $2,757 β $2,692
Smart Step 3% Grant FHA:
π Rate: Decreased from 7.375% β 7.125%
π APR: Decreased from 8.29% β 8.04%
π P&I Payment: Decreased from $2,890 β $2,823
First Step / First Generation FHA:
π Rate: Decreased from 6.625% β 6.375%
π APR: Decreased from 7.52% β 7.27%
π P&I Payment: Decreased from $2,789 β $2,627
3.5% Grant:
β
Rate: 7.25% (unchanged)
π APR: Decreased from 8.13% β 8.18%
πΈ P&I Payment: Remains $2,856
π Summary:
π Purchase Loans: FHA and VA rates saw significant decreases, but points increased. Conventional rates remained unchanged, but points dropped.
π Refinance Loans: FHA and VA Streamline points dropped significantly, improving APR. Conventional refinance rates also fell, lowering payments.
π Down Payment Assistance: Rates, APR, and P&I payments decreased across all programs, making these options more affordable.
π© Questions? Reach out anytime for personalized advice!
