Park City, Utah
When you’re home shopping in Park City, Heber or anywhere throughout the Wasatch Back, you want to work with a reliable, professional mortgage company, and that’s Altius Mortgage. We’re here to help you make your dream of homeownership come true.
Home Loans in Park City
The median home price in Park City, Utah, is almost a million dollars. Park City is prime real estate, right in the middle of some of the best skiing the Rocky Mountains has to offer. The downtown area exudes historical 19th century charm, the views are to die for and recreational opportunities are never-ending.
Whether you’re looking for a vacation home or a year-round home, the team at Altius Mortgage can help you find the perfect spot for you in Park City or Heber.
If you already own a home in northern Utah, you may want more information about how to get a second mortgage for your Park City retreat. If you want to make Park City your year-round home, we can help you with that too.
Which Mortgage Program Is for You?
Park City is an affluent community, so even some of the condos are in the $2 million to $3 million range. For this reason, homebuyers who don’t have a lot to put down on a Park City home may need to apply for a jumbo mortgage.
Jumbo loans are loans that exceed the limits of Fannie Mae and Freddie Mac loans. This amount differs throughout the country. In most of Utah, the limit is $510,400, but in Summit County, where Park City is located, the limit is $762,450. It is possible to find a condo or townhouse in Park City for less than this limit, but it is difficult.
When you apply for a jumbo loan, you generally need excellent credit. It’s easier to qualify for a conventional loan than a jumbo loan. Debt-to-income ratio is always a factor in mortgage calculations, but they’re more important for jumbo loans.
Further, if you own a year-round home that you live in outside of Park City and are looking to take out a second mortgage, these usually come with a higher interest rate than your first mortgage.
Streamlined Application Process
Even though jumbo loans, second mortgages and investment properties come with their own complexities, the team at Altius Mortgage has streamlined the process, so you get your approval faster.
The last thing you want when you’re dreaming of your perfect getaway spot in Park City or Heber is to have to wait on pins and needles for approval. We will help you get pre-approved so that when you find the home you want, you can close on it quickly.
Altius Mortgage Serves Park City Homebuyers
If you have your eye on a palatial Park City home or you’re looking for a condo for weekend getaways that doubles as an investment property, count on the team at Altius Mortgage to help you navigate your way through the home loan process. We’re here to help you get the best mortgage rate on a home in Park City. Call us today to get started.
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Your Dream of Home Ownership is within Reach.