Colorado Springs, CO Home Loans

Herring Bank stands as a trusted partner for those embarking on the home buying process. Our team of dedicated mortgage loan originators specialize in crafting loan programs that cater to the diverse needs of the community. From first-time homebuyers to those considering mortgage refinancing, we guide clients through every step of the mortgage process with integrity and expertise.

Our mortgage company’s offerings include an array of mortgage loans, such as FHA loans for those seeking flexible lending options, VA loans honoring our veterans, and conventional mortgages for traditional home purchase financing. For homeowners looking to leverage their home equity, we provide cash-out refinancing solutions, all while securing competitive interest rates that align with your financial goals.

At Herring Bank, we understand that the loan process is an integral part of the home purchase journey. Our mortgage professionals are committed to ensuring a seamless and transparent experience, providing the right mortgage to fit each client’s unique scenario. Whether navigating the exciting path of your first home or seeking to refinance an existing property, Herring Bank offers the integrity mortgage services you deserve.

Embarking on your mortgage journey with Herring Bank means partnering with a financial institution that puts the needs of Colorado Springs‘ first-time homebuyers and seasoned investors first. Connect with us to begin the entire process, and let us help you secure your place in the beautiful Colorado Springs area with a home loan that turns dreams into realities.

The Colorado Springs real estate market in 2024 is demonstrating signs of a competitive landscape. Homes in the area are receiving multiple offers and are typically sold in just over a month. The median sale price for homes is $434,000, marking a 3.3% increase from the previous year. With the median sale price per square foot up by 3.7%, the market is trending towards continued demand.

The housing supply: while new listings have seen a dip of 7.5% year-over-year, the months of supply—which measures how many months it would take for the current inventory of homes on the market to sell given the current sales pace—has increased by over 25%. This increase in the months of supply is a positive indicator for potential buyers, suggesting that they may have more options and less competition compared to the previous year.

It’s worth noting that the city’s population as of July 1, 2022, stands at 486,248  showing a steady growth rate. The owner-occupied housing unit rate is over 61%, and the median value of these units is $383,000 with a median gross rent of $1,464, as reported by the U.S. Census Bureau. Thinking about a home loan? Check out our Mortgage Services.