Your Source for Summit County Real Estate
Ever since President Trump floated the idea of offering mortgages for 50 years, there’s been a buzz wondering if that could be a good option to help make home ownership more affordable. It’s happened for automobile financing over the years. The 3 year car loan went to 5 years and then 7 years. Why not […]
Interest rates are up, inventory is low, prices are up. This has everyone asking is now a good time to buy real estate? Why would anyone want to buy a home right now? Rents are up too. Staying in a rental is not a great option. Rents go up almost every lease period. If you […]
With mortgage rates climbing more than 3% so far this year, it is tricky to get the lowest interest rate mortgages these days; but not impossible. Business has slowed dramatically and solutions to find the lowest interest mortgages are necessary to encourage buyers to buy in this high rate environment. Some mortgage brokers are bringing […]
There’s been a lot of news about the increase in the conforming loan limits for 2022. The new loan limits range from $647,200 to $970,800. A conforming loan means it will be backed by the government entities, Fannie Mae or Freddie Mac. That backing makes loans easier to get and generally you will have lower […]
If you have a vacation home in Summit County, or anywhere in the US, that you rent out part time, what you can or cannot deduct can get a little sticky. How many days a year do you use your vacation home? How many days to you rent it to others at fair market rent? […]
Freddie Mac & Fannie Mae recently made some changes to their loan requirements that impacts what loan products are readily available to consumers. One of those changes is making interest rates on second homes jump and another may make investment property loans more difficult to get. Second homes make up a huge portion of the […]
Conforming loan limits are set by the federal government and can impact the loan products, requirements and rates that are available from your local mortgage brokers and lenders. If your mortgage amount is higher than the conforming loan limit, it will be a jumbo loan and can have different requirements and interest rates. For example, […]
Many people have been out of work for a couple of weeks now. Others are concerned that, while they are still employed, it’s not going to last. Still others are at high risk and really shouldn’t leave the house. All a result of Coronavirus and the resulting shut downs happening across the country. Many americans […]
The following mortgage lending info is from Home Mortgage Alliance. CHFA down payment assistance no longer has their 5% grant/down payment program. It went official on 4/1 that they only offer 3% and 4% grant options for their down payment assistance programs. Here’s CHFA’s website if you want to learn more but feel free to […]
101 Main St, #109, PO Box 4115 Frisco, CO 80443
