The Financing
The Role of a Lender & Common Loan Types
Lenders are essential to the home buying process, as they provide the financing that enables most buyers to purchase a home. Whether through banks, credit unions, or mortgage brokers, lenders assess a buyer's financial profile—credit score, income, debt-to-income ratio, and assets—to determine loan eligibility and terms. A good lender not only secures financing but also educates buyers on loan options, interest rates, and repayment strategies to fit their financial goals.
Some of the most common loan types include:
Conventional Loans – Ideal for buyers with strong credit and stable income, these loans typically require a 5-20% down payment and offer competitive interest rates.
FHA Loans – Backed by the Federal Housing Administration, these loans allow for lower down payments (as low as 3.5%) and are designed for first-time or low-to-moderate-income buyers.
VA Loans – Available exclusively to veterans, active-duty military, and eligible spouses, VA loans require no down payment and offer favorable terms with no private mortgage insurance (PMI).
USDA Loans – Geared toward rural homebuyers, these government-backed loans offer zero down payment options for qualifying properties.
Jumbo Loans – For buyers purchasing luxury homes or properties exceeding conventional loan limits, jumbo loans provide financing for higher-priced homes with stricter lending requirements.
Local Lenders in Grand Junction
Group Mortgage, LLC
An affiliate of Bray & Company, Group Mortgage, LLC is a full-service mortgage banker committed to on-time closings and a streamlined home-financing experience. Contact Loan Officer Christine Ransier (NMLS #1057590) at cransier@groupmortgagellc.com or 970-260-5755.
Fidelity Mortgage Team
Known for their customer-first approach, Fidelity Mortgage Team offers a range of home financing products and services to help clients achieve their real estate goals. They have a strong presence in Western Colorado.
Guild Mortgage Company
As one of the top independent mortgage lenders in the nation, Guild Mortgage provides a variety of loan products, including down payment assistance programs, jumbo loans, and government-backed loans. Loan Officer Christopher Bucalo is available at their Grand Junction branch.
New American Funding – Grand Junction
Offering informed advice and mortgage lending services, New American Funding is dedicated to helping homeowners and future homeowners in the Grand Junction area. Branch Manager Kim Short (NMLS #187766) can be reached at 970-549-9093 or kim.short@nafinc.com.
Major Mortgage
With a reputation for excellent customer service, Major Mortgage assists clients in finding suitable mortgage solutions tailored to their needs. They are well-reviewed in the Grand Junction area.
