Steamboat Real Estate Home Search and Blog

(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 today, [...]

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 [...]

Ed Albright at Columbine Mortgage passes along this information about financing Condotels in Steamboat Springs (read here what a Condotel is): Loans up to $417,000 at 90% LTV 5/1 ARM Interest Only at 6.0% with 1% Origination Fee Full Documentation only. Payment of $500 / month per $100,000 loan. Loans over $417,000 at 85% LTV [...]

Interested in financing a Steamboat Springs, Colorado ski condo or second home? Financing terms just got better for Steamboat real estate buyers who need larger loans. Fannie Mae and Freddie Mac have responded to the sub-prime crisis by temporarily increasing jumbo conforming loan limits. Routt County, Colorado, conforming loan limits have increased to $675,000 for [...]

If you are planning to purchase Steamboat Springs real estate and standing on the sidelines waiting for prices to fall, don’t bother. Go ahead and buy now. I know what you are thinking: “What? I’ll lose money. I want to buy when the market bottoms out.” Besides the fact that Steamboat is holding up well [...]

The recent credit crunch stalled plans for a lot of Steamboat Springs home buyers who could no longer qualify for a mortgage or who put off purchasing a new home when they saw the higher interest rates for jumbo loans. Jumbo loans–loans for more than $417,000 that do not meet terms and conditions set forth [...]

Interest Rate Information is courtesy of Holly Rogers, Capital Mortgage Advisors, at (970) 879-8765. Today’s 30 year fixed rate as low as 5.875% Conforming Rates (417,000.00 & under) 30 year fixed 5.875% 15 year fixed 5.375%

Anyone looking to buy or sell Steamboat real estate knows our market is hot, hot, hot. However, a few out of town buyers are asking how the new credit situation will affect Steamboat. Without the benefit of a crystal ball, I have to say the fundamentals behind purchasing Steamboat real estate a month ago are [...]