It’s likely many mountain homeowners haven’t heard that the high-cost maximum loan amounts as defined by FNMA & FHMLC are going down. Currently, borrowers can finance up to $729,750 and still qualify for the conforming conventional interest rate in some areas of the country. Loan amounts above the maximum are subject to higher “Jumbo” mortgage [...]
Read More boulder county, eagle county, high balance, lake county, pitkin county, routt county, san miguel county, summit countyDid you know that Summit County, Colorado home owners get preferred treatment over just about every other county in Colorado? It’s true. There are only four counties in all of Colorado that are considered “High Balance, High Cost” counties. These areas get to take advantage of lower rates for loan amounts, that traditionally, are considered [...]
Read More high balance, jumbo, summit countyHere is something I’d like to know. How many investor-owned properties were foreclosed in 2007? What about the first half of 2008? My theory is that speculators getting zero-down, stated income, non-owner occupied, negative amortizing loans contributed more to the unraveling of the credit markets than primary homeowners who got a low rate adjustable mortgage. [...]
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