Return of the 3% Down Payment
In an effort to open up lending to lower-end and first-time home buyers, Fannie Mae and Freddie Mac recently announced that they will start backing mortgages with down payments of as little as 3% of the home’s price. Borrowers will need to meet strict criteria, the two government-backed mortgage giants said, but overall this seems to be a good sign for those looking to enter or get back into the real estate market.
Some of the criteria to get one of these new loans:
- Must buy private mortgage insurance
- Must have a credit score of at least 620
- Must offer complete documentation of your income, assets and job status
- Must attend and receive home ownership counseling
Both programs are for fixed-rate loans given to first time homebuyers and those seeking to refinance. See more details of this new program CNN Money here.
Exceptional home site with superb views. Easy access from this 2.11 acre lot to the public trail system, Fish Creek, hiking and biking. $394,000 | #131033
Lynx Basin Estates Custom Home
Lovely custom home on 3 acres with 3 bdrms on the main level and an open “Great Room” style floor plan. Unfinished walk-out basement framed for 3 more bdrms, 2 baths and large family room for a total of almost 4500 sq ft. $699,000 | #136853
Luxury at Edgemont
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Craftsman timber frame home
Unique 4,270 sf timber frame home on 41 acres with a full solar power system, wood burning furnace forced air heating system, and complete backup systems. Incredible efficiency and the highest quality construction are found in this custom built posts & beam home. Recently completed, it has a large wood workshop, excellent views (including the Steamboat Ski Area), huge decks, a 3 car garage, additional storage building, and a seasonal creek that runs through the property. $1,200,000 | #139765
Trailhead Lodge at Wildhorse Meadows
Just Listed! Step out the door of Trailhead Lodge, grab the gondola and hit the slopes! This exquisite 4th floor 1 bedroom + den unit at Trailhead Lodge has direct Mountain views. The deck looks over the BBQ social area below and with views of the Ski Area above. Excellent amenities, beautifully finished and offered fully furnished. Wildhorse Meadows is on the rise with a new commercial building and a luxury townhome project currently under construction. $495,000 | #139819
Ski-in/Ski-out living at Edgemont!
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