# Cedar Home Loans — Full Content Guide

> Cedar Home Loans is a Colorado-based mortgage lender specializing in home purchase loans, refinancing, jumbo loans, VA loans, and mountain property financing. Led by Andrew McBryan (NMLS #2028837), we serve Vail, Telluride, Boulder, Denver, Breckenridge, Steamboat Springs, Aspen, and all of Colorado. NMLS #1953497. Phone: (970) 368-6135.

## Company Overview

Cedar Home Loans is headquartered at 220 E Colorado Ave Suite #200, Telluride, CO 81435. We have been serving Colorado homebuyers since 2015 with a focus on mountain communities and resort markets. Our team closes loans in as little as 21 days — significantly faster than the national average of 45-55 days.

Key differentiators:
- Specialized in Colorado mountain property financing (altitude, access, seasonal considerations)
- 21-day average closing time
- Local expertise across all Colorado markets
- Full range of loan products: Conventional, FHA, VA, USDA, Jumbo, Construction, HELOC
- Free pre-approval in 24-48 hours
- No-obligation rate quotes

## Loan Products and Services

### Home Purchase Loans
We offer multiple loan programs for home purchases in Colorado:
- **Conventional Loans**: 3-20% down, 620+ credit score, up to $766,550 conforming limit (higher in some CO counties)
- **FHA Loans**: 3.5% down with 580+ credit score, up to 50% DTI allowed, great for first-time buyers
- **VA Loans**: 0% down for eligible veterans/active military, no PMI, competitive rates
- **USDA Loans**: 0% down for eligible rural properties in Colorado
- **Jumbo Loans**: For amounts exceeding conforming limits, 700+ credit score, 10-20% down typical

### Refinancing
- Rate-and-term refinance to lower your interest rate
- Cash-out refinance to access home equity (up to 80% LTV)
- FHA Streamline refinance for existing FHA borrowers
- VA IRRRL for existing VA loan holders

### Mountain Property Financing
Our specialty — we understand the unique challenges:
- Properties at altitude requiring specialized appraisals
- Seasonal access and snow removal considerations
- Well/septic systems vs. municipal utilities
- High-fire-risk zone insurance requirements
- Resort community HOA structures

### Jumbo Loans
For Colorado's luxury and mountain markets:
- Loan amounts exceeding $766,550 (higher in some counties)
- Credit score 700-720+ required
- 10-20% down payment typical
- Available for primary, second home, and investment properties
- Common in Vail, Telluride, Aspen, Breckenridge, and Steamboat Springs

### VA Loans
For veterans and active-duty military:
- Zero down payment required
- No private mortgage insurance (PMI)
- Competitive interest rates (often lower than conventional)
- No official minimum credit score (most lenders want 620+)
- VA funding fee can be financed into the loan

### Construction Loans
- One-time close: Single loan covers construction and permanent mortgage
- Two-time close: Separate construction loan converts to permanent mortgage
- Available for custom builds throughout Colorado

### HELOC (Home Equity Line of Credit)
- Access your home equity as a revolving credit line
- Draw period typically 10 years, repayment period 20 years
- Variable interest rates
- Use for home improvements, debt consolidation, or major expenses

### Investment Property Loans
- 15-25% down payment required
- Higher interest rates than primary residence
- Available for 1-4 unit properties
- Short-term rental (Airbnb) income may qualify
- DSCR loans available for experienced investors

## Frequently Asked Questions

### What is the easiest house loan to get approved for?
FHA loans are generally the easiest home loans to get approved for. They require a minimum credit score of 580 with 3.5% down (or 500 with 10% down), allow higher debt-to-income ratios up to 50%, and accept gift funds for the entire down payment.

### What is the 3-7-3 rule in mortgage?
The 3-7-3 rule refers to federal disclosure timelines: lenders must provide a Loan Estimate within 3 business days of application, there is a 7-day waiting period before closing, and you must receive a Closing Disclosure at least 3 days before closing if terms change.

### What credit score is needed for a mortgage?
Minimum scores vary: FHA requires 580 (500 with 10% down), Conventional requires 620, VA has no official minimum (620+ typical), Jumbo requires 700-720. Scores of 740+ get the best rates.

### What salary do you need for a $400,000 mortgage?
At 6% interest, you need approximately $100,000-$115,000 gross annual income. The monthly P&I payment is about $2,398. Using the 28% housing cost rule, you'd need roughly $8,564 in gross monthly income.

### How much house can I afford?
Use the 28/36 rule: housing costs shouldn't exceed 28% of gross income, total debts shouldn't exceed 36%. At $80K salary, expect $300K-$370K. At $100K, expect $380K-$450K. At $120K, expect $450K-$540K.

### How to pay off a 30-year mortgage in 5 to 7 years?
Make bi-weekly payments, apply all windfalls to principal, round up payments aggressively ($6,500-$7,500/month on a $2,400 payment), and consider refinancing to a shorter term. Ensure no prepayment penalty.

### What is the minimum down payment for a house?
VA and USDA: 0% down. FHA: 3.5% down. Conventional: 3% down. Jumbo: 10-20% down. Less than 20% down on conventional triggers PMI.

### Is it better to get a 15-year or 30-year mortgage?
30-year offers lower payments and flexibility. 15-year saves significantly on interest (about $285,000 on a $400K loan) and builds equity faster. Choose based on budget, goals, and how long you'll stay.

## Colorado Market Data

Cedar Home Loans serves all of Colorado with particular expertise in:
- **Eagle County** (Vail, Avon, Edwards): Median home price ~$1.2M, jumbo loan territory
- **San Miguel County** (Telluride): Median home price ~$2M+, luxury market
- **Boulder County** (Boulder): Median home price ~$750K
- **Denver Metro**: Median home price ~$550K
- **Summit County** (Breckenridge, Frisco, Keystone, Silverthorne): Median ~$800K
- **Routt County** (Steamboat Springs): Median ~$700K
- **Pitkin County** (Aspen): Median ~$3M+, ultra-luxury market
- **El Paso County** (Colorado Springs): Median ~$450K
- **Larimer County** (Fort Collins): Median ~$520K

Colorado property tax rate: ~0.51% (less than half the national average of 1.1%).

## Contact Information

- **Phone**: (970) 368-6135
- **Email**: info@cedarhomeloan.com
- **Address**: 220 E Colorado Ave Suite #200, Telluride, CO 81435
- **Website**: https://www.cedarhomeloan.com
- **Apply Online**: https://www.cedarhomeloan.com/apply
- **Get Pre-Approved**: https://www.cedarhomeloan.com/pre-approval
- **Office Hours**: Monday-Friday 8:00 AM - 6:00 PM Mountain Time
- **NMLS Company ID**: 1953497
- **Andrew McBryan NMLS**: 2028837
- **LinkedIn**: https://www.linkedin.com/company/cedar-home-loans
- **Facebook**: https://www.facebook.com/cedarhomeloans
- **Instagram**: https://www.instagram.com/cedarhomeloans
- **YouTube**: https://www.youtube.com/@CedarHomeLoans