Mortgage rates have dropped again, which is good news for buyers looking to finance new Steamboat Springs real estate purchases. About half the real estate sales in our area are financed. The other 50% pay cash, pull money out of their primary residences by refinancing or getting a home equity loan, borrow against brokerage accounts, or use other creative financing options.
This week’s national rates are:
- 3.54% for conventional 30 year financing
- 2.81% for 15 year financing
- 2.74% for 5 year ARMs
Buyers in Steamboat need to be aware that our resort market sometimes comes with different rules, so it’s a good idea to call us at 970-819-6372 to talk about financing. For example, some condos do not qualify for conventional Fannie Mae financing so you may have to use an ARM or a local Steamboat lender.
See all properties for sale here, and call us if you are planning on borrowing money for your purchase. We can often save you a lot of time.