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Mountain Living Real EstateMountain Living Real Estate

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Financing a Home

When looking at buying and financing a home, there are several types of loans available for you to choose from.  The question is which one is right for you? Many factors come in to play to determine that. Things like credit score, current interest rates, length of time you plan to own the home are important considerations. Below are a few of the lending options available and when you might want to use them.

Fixed-Rate Loans

Financing a home in Glen Cove
You have several loan options when financing a home

The fixed-rate mortgage is the most popular mortgage program in use today for financing a home. Fixed-rate loans offer the borrow a fixed interest rate for the life of the loan, typically 15 to 30 years. Borrowers have peace of mind knowing that their monthly payment will not change over time. Conventional fixed-rate mortgages have underwriting requirements established by Freddie Mac and Fannie Mae, and require certain down-payment and debt-to-equity ratios to qualify. Fixed-rate loans are especially attractive to buyers who plan to stay in their home for more than a few years.

Adjustable Rate Loans

With an Adjustable Rate Mortgage (ARM), the interest rate changes periodically, and payments go up or down accordingly. Your monthly payment may fluctuate from year to year based on interest rates. Rates are tied to an index that reflects the cost of money at any given point in time. Generally speaking, lenders charge a lower initial interest rate for the ARM than for the fixed rate mortgage. If you are expecting interest rates to decrease in the future, or if you are trying to maximize your purchase power today knowing your income will rise in the future, then this loan may be right for you. Adjustable rate loans are an attractive when financing a home if you expect to be in the home for a short period of time.

FHA and VA Loans

The Federal Housing Administration (FHA), offers loans for low-to-moderate-income home buyers. FHA loans have lower down payments, and have relatively easier requirements than conventional fixed-rate mortgages. FHA mortgages have no income restrictions and even those with lower credit scores may be considered. Past bankruptcy does not necessarily disqualify borrowers from using this program! To use an FHA loan, the home must be your primary residence and condo complexes must be FHA approved.

Military helmet symbolizing VA loans
Active and retired military can opt for a VA loan

In addition, the Department of Veterans Affairs (VA) offers a zero-down mortgage program. To take advantage of this program, borrowers need to be among those listed as veterans and service personnel in the U.S. military. One of the biggest benefits of this program is that it eliminates the need for private mortgage insurance!

Local Homebuying Program

Summit County has local home buying programs available. These programs offer down-payment assistance and programs for first time home buyers. Deed restricted housing is also available for those that meet specific criteria for living and/or working in the county.  Learn more about these local programs, recommended lenders, and other finance options by contacting us today!

About Us

Mountain Living Real Estate, a.k.a. The Mountain Living Team, is a family owned, second generation, real estate company that has been helping buyers and sellers in Summit County since the early 90’s.  Mountain Living Real Estate is committed to going above and beyond to ensure their clients have the most amazing real estate experience possible.  Jason & Meredith take a personal approach to educate their clients, empowering them to make high quality decisions no matter the situation.  They take exceptional care throughout the sales process and beyond; striving to make each client’s path in Summit County one filled with fun, excitement & great memories.

Work with Mountain Living Real Estate and you’ll understand why so many people say, “We Love Mountain Living!”

Testimonials

Jason used amazing strategy for pricing, selling and acquisition of our next property. In this market this strategy is critical for success – especially with the buying process. Summit County real estate is a challenging market. We have bought and sold two properties and just bought our third. Jason and Meredith have been there for Continue Reading

Ben from Centennial February 2, 2022

You were very knowledgeable and supportive during this transaction. I was most impressed with your calmness and smart decision making during a chaotic process. Thank you again for your calmness during all of this.

Barbara from Centennial January 24, 2022

home in Breckenridge

We were very impressed with your professional skills, timely communication, and excellent listening skills. We felt you cared about us and our success.

Frederick from Colorado January 24, 2022

Living room in Dillon condo

(I was most impressed that they) Kept us informed through it all and helped navigate the things that needed to get down in a timely fashion. Also really appreciated help getting people to do some of the things done around the house.

Kate from Ft Collins November 4, 2021

House in Hamilton Creek

You guys did an exceptional job for us and went the “second mile” in many ways. We were most impressed with Pro-active and involved interaction with us and everyone in the process. Your team was exceptional. Recommended many things for us to do, and then helped us do them. Followed up,, checked in, and helped Continue Reading

Warren & Sue from TX August 12, 2021

Treehouse condo

Over the years we have bought and sold over 30 pieces of property and this was one of the most efficient and painless processes. Service and attention was A-perfect!

Jack from FL August 9, 2021

Gateway condo in Keystone

I very much enjoyed working with both Meredith and Jason, they really focused on our needs and questions. Their knowledge of the Summit County Area was worth its weight in Gold. Thank you guys!

Glen from GA July 27, 2021

sale of house

We were most impressed with your good judgement and advice on everything. Thank you for navigating us through the sale of our house.

David & Cecile from Boulder July 14, 2021

Copper Mountain Ski Resort

Great service- more forward leaning than previous realtors Most impressed with follow up, knowledge of local market, going the extra mile on document review and getting HOA questions answered. Good advice on price point, patience, and negotiations. Understandably you aren’t always available to look at properties, but in the crazy COIVD market there was one Continue Reading

Holly from Colorado Springs June 14, 2021

Most impressed with the dedication to getting the best deal for us! Exceptional service, skilled negotiators, truly worthy! I wouldn’t consider hiring anyone else. Thank you Meredith and Jason.

Lloyd from Salida June 4, 2021

Contact Us


Jason and Meredith Adams

Jason & Meredith Adams
Mountain Living Real Estate

101 Main St, #109, PO Box 4115 Frisco, CO 80443

(888) 666-0844
team@mountain-living.com

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Jason & Meredith Adams are both licensed to sell real estate in the state of Colorado

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