"Date" the Rate and "Marry" the Home
One of my mortgage lender friends, Jennifer, once said to me, “Date the Rate and Marry the Home.” That saying took me a while to grasp the meaning. She explained:
Don't let higher interest rates stop you from buying (marry) the property of your dreams.
Don't let today's interest rates stop you from securing the property of your dreams in the Roaring Fork Valley. Rates, by nature, fluctuate. What's truly vital is locking in your ideal home, then strategically refinancing your mortgage when the market shifts in your favor.
I remember my Dad (also a commercial and residential developer and homeowner) saying that back in the day (the 80's), interest rates were double-digit, as in 16% or more. By 1983, the rates hovered around 13%. By the end of the decade, rates averaged around 10%. Crazy, right??
Today, the mortgage rate for a 30-year conventional mortgage hovers around 6.75% plus or minus, which is a new low since April of this year. Historically speaking, this is affordable!
Your First Step: Connect with a Local Lender
If you are a serious buyer in our unique market, you must be pre-qualified with a local lender. It’s a non-negotiable. This critical step clarifies your true budget and prepares you to act decisively when your perfect property emerges.
Here are a few of my highly recommended local lending partners:
Jennifer Stepisnik - Guild Mortgage
970-309-4451
jstepisnik@guildmortgage.net
Katie Erickson - Bay Equity
218-349-3303
kerickson@bayeq.com
Richard Fuller - Cornerstone Mortgage
970-618-4294
rfuller@houseloan.com
Ready to Pounce: Strategic Financing Options Await
Establish a relationship with your favorite lender as soon as possible, and when "your" property hits the market, you will be fully prepared to make a strong and confident offer.
Everyone needs somewhere to call home. Don't let the current interest rate environment deter you from your Roaring Fork Valley aspirations.
Your chosen lender can guide you through various advantageous financing programs tailored to your needs. From 100% financing to 30% down payment programs, making your valley lifestyle a reality is more achievable than you might think.
If you have questions about buying or selling in the Roaring Fork Valley, please contact me.