Still hoping to pick up vacation real estate in Summit County or Park County, Colorado near the Front Range cities? Fear not. Loans for Breckenridge real estate, Keystone CO homes, Copper Mountain or Silverthorne properties, or Montezuma, Fairplay, and Alma CO ranches are readily available for buyers with good credit scores and stable, verifiable income.
Thirty-year fixed loans up to $417,000 are available in the 6 percent range. FHA loans for single-family homes in Summit County require 3 percent down and that will increase in 2009 to 3.5 percent. These loans are readily available up to a maximum of $402,500. For larger loans, the Jumbo loans are available for sums over $417,000. They are generally available in the high 5 percent to low 6 percent range with balloons for 5-10 years.
Another option for buyers of luxury resort properties is a combination of a fixed-rate loan and a second loan. With this arrangement, the loan to value ratio normally cannot exceed 80 percent.
Summit County is located high in the Colorado Rockies and is known as Colorado’s playground for the numerous outdoor recreational activities available in the area. In addition to 4 major ski areas, the County also has 2 popular reservoirs, Dillon and Green Mountain, and features miles of White River National Forest, Eagles Nest Wilderness, American Discovery Trail, Colorado Trail, Continental Divide National Scenic Trail, Vail Pass National Recreation Trail, Wheeler Ten Mile National Recreation Trail, Great Parks Bicycle Route, TransAmerica Trail Bicycle Route, and the Top of the Rockies National Scenic Byway.
Park County boasts many wonderful areas for hunting, fishing, horseback riding, hiking, and mountain biking in the Eleven Mile State Park, Spinney Mountain State Park, Pike National Forest, Roosevelt National Forest, San Isabel National Forest, Buffalo Peaks Wilderness, Lost Creek Wilderness, American Discovery Trail, Colorado Trail, Continental Divide National Scenic Trail, Great Parks Bicycle Route, TransAmerica Trail Bicycle Route, and Guanella Pass Scenic Byway. Many portions of the County are located within 30 minutes of the ski areas.
Contact Jonna Beardsley at (970) 453-2200 or (800) 774-7970 for friendly and professional real-estate assistance in the area.
Posted by: Editor
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