We poured over the terms and conditions for every mortgage lender in town and have uncovered a local lender who, hands down, has the lowest rates and loan origination fees and won’t be undersold. When rates go down, they will modify your loan with the lower rate one time for the life of the loan at no cost to you. If that’s not enough, they will give you free checking for life. But wait, there’s more! Our sellers have agreed to consider seller concessions for an even further interest rate buydown with an acceptable offer.
Are you ready to make the move to Estes Park, but don’t think you can afford it? Do you think interest rates are too high to consider investing in Estes Park? Should you buy now or wait until interest rates drop? Let this information help you make your decision.
Here is a quick thought on waiting until rates drop. (Common belief is that rates will not drop more than 2% from current levels.) According to the Estes Valley Board of Realtors, the table below shows median values in 2018 compared to 2023 and potential values for 2028. You would have to decide for yourself, but looking at these numbers, I would not wait for rates to drop if I was thinking about buying.
Median Value 2018 $492,000 Median Value 2023 $741,250
Median Value 2023 $741,250 Median Value 2028 $1,193,791*
Increase in Value $249,250 Potential Increase $452,541
*Based on historic appreciation from 2008 to 2023
If you would buy now, paying a 2% higher interest rate, the additional interest cost over five years would be $132,000. The potential increase in appreciation of the home in this scenario, less the $132K in interest, would be $320,541. Appreciation offsets higher interest rates by a long shot!
Special Financing by our Local Lender**
– Preferred Client Interest Rate – Seller Paid Interest Rate Buydown
– Low Loan Origination Fee – No Loan Refinancing Fee*
– Free Checking for Life – In-House Local Lending Decisions
– Preferred Rates on Savings Accounts and Certificate of Deposits
*Specific conditions exist **Limited Time Offer
We have taken all the hard work out of home buying (and made it easier for sellers, too) so all you have to do is call or text 970-480-7820 or drop an email to Team@EstesParkHome.com for more details.