Steamboat Real Estate Home Search and Blog

If you’re looking to finance Steamboat real estate, pay attention to these new rules coming out in January.   This post is guest-authored by Kathryn Pedersen and Holly Rogers, mortgage brokers at Yampa Valley Bank:
Fannie Mae will be changing their debt ratio guidelines as of the first of January. Debt ratio is total debt divided [...]

First time homebuyers who procrastinated about buying Steamboat Springs real estate may not lose out after all. And as an added bonus, current homeowners could be eligible for a new $6500 tax credit. Real estate investors will not benefit.
This tax credit extension and new credit for current homeowners has not passed Congress yet, but [...]

This post is written by Holly Rogers, a mortgage lender in Steamboat with over 20 years experience.  You can email Holly or call her at (970) 875-1636.
It is a very exciting time to be a first time buyer in Steamboat Springs with the $8,000.00 tax credit, historically low interest rates and a large inventory of [...]

This post is guest authored by Ed Allbright, a certified mortgage planner and owner of Columbine Mortgage here in Steamboat Springs:
WHAT happened to RATES this week? Buyers need to get off the fence!
Glad you asked. In a short sentence too much debt chasing too few investors with real cash. Rates on 30 year fixed jumped [...]

Steamboat Springs has several new condominium projects like Howelson Place, Alpenglow, the Olympian, Edgemont, Trailhead Lodge, One Steamboat Place and the Victoria coming on the market this year and next year.
As of March 1, Fannie Mae has made it harder to get financing.
Fannie Mae is no longer guaranteeing mortgages in condo buildings where fewer than [...]

Whether you are planning on buying Steamboat real estate or looking for a new job, your credit score matters more than ever in this challenging economic environment.
Everyone–high income earners to first time home buyers–needs higher scores now to qualify for loans. High net worth individuals may think that paying cash and keeping money in the [...]

Just last summer, you could write an offer and leave out the financing contingency even if you expected to get a loan.  You sat across from a mortgage broker who said, “You need $10,000 a month in income to qualify for this loan.  What do you make?”  Even those who earned less could say, [...]

(This article is guest-authored by Holly Rogers of Yampa Valley Bank. For more information on financing Steamboat real estate, call Holly at (970) 879-8765.)
You’ve found the Steamboat Springs house you want to buy, you’ve made an offer, and now you’ve got to decide how to pay for it. With all the options available [...]

Anyone in the market for Steamboat Springs real estate knows that Steamboat real estate loans are harder to get than they were in the easy credit days.
Here are a few guidelines about the changes:
Steamboat condotels are harder to finance and have higher rates than traditional condominiums. Some things that flag a property as [...]

Update:  This post was written in April before the credit market really tightened up.  People can still get financing, it just takes more work.  If you want to finance–and rates are really good right now–be ready to put 20-30% down and be ready to document your income.  Our local banks are still making loans and [...]