If you’ve never bought a home before, you’re going to be introduced to the world of mortgage lingo – and some of it is downright confusing. Before you begin shopping for the best rates on loans, have a peek at this mortgage term glossary. Mortgage Term Glossary for Aspen Homebuyers Adujstable-Rate Mortgage An adjustable-rate mortgage […]
If you’re like most people, you’ll need to take out a mortgage loan to purchase a home in Aspen. But how much do you really know about mortgage loans? Could you define the standard terms that lenders use, and do you know the ins and outs of borrowing? 4 Things You Need to Know About […]
Navigating the world of lending—particularly home lending—is tough (and it’s often confusing, too). Nonetheless, if you’re like most people, you’ll have to take out a mortgage loan to pay for your new home in Aspen, Basalt, Carbondale or the surrounding communities. And that means you’ll hear all kinds of financing lingo; you may even be […]
When you’re shopping for a mortgage, you want to get the best possible interest rate – but how do you do that? What Determines Interest Rates? Your credit score and the market typically determine what interest rates you’re eligible for when you apply for a mortgage loan. However, there are a few things you can […]
A balloon loan is an option you may have when you’re buying a home in Aspen – but what is it, and why do people use them? What is a Balloon Loan? A balloon loan is a kind of loan that doesn’t fully amortize over its lifetime. At the end of the loan, a balloon […]
If you’re buying a home, you’ll have plenty of options when it comes to financing – and one of them will include choosing between a fixed rate and an adjustable rate mortgage. What is a Fixed Rate Mortgage? A fixed rate mortgage is one in which your interest rate remains the same over the lifetime […]
Whether you’re buying a luxury home in Aspen, a ranch in Basalt, or a condo in Snowmass, you’re most likely going to take out a mortgage. Mortgages aren’t free, however, so you’ll always find mortgage fees tacked on. (If you want to learn more about mortgage fees and what they pay for, talk to your lender or your […]
If you’re thinking about buying a home in Aspen, you need to plan for the future, too—and that means getting to know different types of financing options and determining what could work in your favor. If you haven’t heard of a mortgage buydown, now is the time to become familiar with it; it’s a technique […]
If you’re currently renting your home but you’re ready to make the transition to official homeowner, congratulations! However, there are a few things you need to know before you kiss your apartment goodbye and replace it with a single-family home of your own. How Much Does it Really Cost to Own a Home? In addition […]
When you purchase a home, there’s a certain “order of operations” that you go through. Once you make an offer and the seller has accepted it, it’s time to put down earnest money. But what is earnest money, and what does it have to do with escrow—and what else do you need to know about […]
