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Shop for a Loan

How to Find a Lender

Today, lenders can be found through a variety of sources. In addition to calling on ads in the newspaper, you can also find and apply to lenders over the internet, and through referrals from your REALTOR. We would be happy to suggest lenders we have used successfully, who have proven themselves competitive and capable even with problem properties or poor credit.

Choosing the Right Lender

Interview several lenders to evaluate the following:

  • Ability to explain things clearly and return your phone calls in a reasonable time period
  • Competitiveness of interest rates, costs & fees.
  • Availability of loan programs that suit your credit profile and desired property
  • Access to local loan approval committee that understands the kind of property you are buying

Choosing the Right Kind of Loan

Today there are so many types of loans on the market that it is beyond the scope of this page to list or explain them all. Your lender is the best person to help you select a loan program to suit your needs. Below is a summary of the three most popular loan types we see in practice; for more detailed information click the link at the end of this page.

  1. Fixed loan: The fixed rate loan assures your monthly payments will stay the same over the life of the loan, which is typically between 15 and 30 years. Fixed rate loans may be best if you intend to hold the property for a long period of time, say over 7 years.
  2. ARMs (adjustable rate mortgages): ARM’s may be suitable if you plan to sell or refinance your home within the next few years. The starting interest rate is typically lower than a fixed rate loan, saving you money initially. However, it is important to understand the index, the readjustment interval, the capitalization rate and downside risks of an ARM before making a final decision to use this type of loan.
  3. Intermediate ARMs: Also called Hybrid Loans, these loans can offer fixed interest rates for the first 3, 5, 7 or 10 years after which the interest rate adjusts with the market every 6 months or year thereafter.
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We were SO fortunate to randomly connect and work with Gabi in purchasing our home. Not only is she completely knowledgeable of the area but also made the process of buying a home such a stress free process. Of 4 offers on our hopeful home, we were...

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Gabi is the best! She was a great resource for us while we were preparing our house prior to listing it for sale. She is very experienced, highly professional, and has always responded to all of our questions promptly. Through her vast network of ...

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I have purchased and sold numerous properties over the years and worked with a variety of very good real estate agents. Gabi is the best of the best. I was an out of town property owner selling a 2nd home. Having a good agent was very important to...

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We have had two business dealings with Gabi and she is the most professional realtor we know! She is consistent , courteous and extremely knowledgeable about her listings and the area. She answers any questions in a very timely manner, sometimes befo...

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Gabi is a professional, competent, and pleasant realtor to work with. I highly recommend her.She presented a professional written marketing plan, including comparisons that supported her recommendations for a selling price.She was available and time...

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Gabi was such a pleasure to work with during our selling process. We sought her out after seeing her price point accuracy, yet received so much more as she is always so positive and professional! The advice she offered at various points along the ...

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Gabi was extremely knowledgeable and professional. We were very impressed with her ability to handle many items and issues at once. We would routinely receive e-mails from Gabi late at night answering questions or providing us with information.Than...

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We first met Gabi Bergstrom when she was showing a home we were interested in purchasing. She was friendly, professional and informative while still giving us enough time to look around and get a feel for the property. When the time came to sell ou...

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We have used many realtors both buying and selling properties over the years. Gabi is hands down the best we have had. We met Gabi as she was representing the sellers in the house we live in now. WE liked her then, and decided to use Gabi on the...

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Moving from Northern California to Southwest Colorado was going to be a challenge for us; Gabi reached out and made a daunting experience pleasurable in locating/purchasing our new property in Durango. We will absolutely enlist her again for future r...

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Gabi Bergstrom Durango Real Estate Remax Logo
970.946.7522 GabiBergstrom(at)gmail(dotted)com RE/MAX Pinnacle
1221 Main Ave. Durango, CO. 81301
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