When Purchasing a Vacation Home Consider the West!

Montana Vacation Home Loans

Montana is a state full of beautiful mountains belonging to the Rocky Mountain range, approximately 77 named and many unnamed. Nicknamed as “Land of shining mountains” and Big Sky Country”, Montana is a vacationer’s paradise. It is a big state and known for its wilderness and national parks. Owning a vacation home in this state is a logical thing. Whether it’s a summer golf residence, large mountain acreage, an undeveloped farm and ranch, or river fishing retreat, funding for vacation property in Montana can be obtained from Resort Funding/Montana Mortgage. Also the sheer variety of funding choices that we offer is unbeatable.

If it is a condo that you intend to buy it is wise to opt for a Montana condominium loan even if you can afford to buy a condo outright. But if you prefer purchasing a vacant plot and building a house on it, we feature Montana construction home loans. These loans take care of the heavy expenses that normally happen during construction of a home. Usually only interest is charged during the construction of the house and then once the construction is over, usually within 6-12 months, the loan turns into a traditional mortgage program. Lot loans in Montana are useful for people that wish to buy land immediately but defer constructing a home on the land to a later date.

Washington Vacation Home Loans

Washington State offers a climate that is predominantly oceanic in the west due to its proximity to the Pacific Ocean. Washington’s claim to vacation fame is its sandy coastal beach regions, snow covered mountains, and deserts. Recreational activities can be enjoyed in the state’s many terrains. Washington also can satisfy the cultural hungry with a host of cultural programs all through the year.

While the real estate boom slowed down in the entire country, Washington state held the promise of rising real estate prices in 2006 (Source: CNN Money – This is because Washington lagged behind in home ownership. The strengthening of job scenario in the state could mean that renters are converting in to owners and also into vacation homes.

If you are contemplating building a vacation home in Washington then construction home loans can ensure that your home gets built within a stipulated time period without any hassle. One time construction loans in Washington are powerful programs that take care of lot purchase, construction, and permanent loan all at once without bothering about reapplying and qualifying again.

Condotels are a branded lifestyle for affluent vacation home owners and in Washington they do not come cheap. But the amenities and the cachet of a luxury hotel are worth paying for through Washington condotel financing.

Idaho Vacation Home Loans

Idaho, especially McCall, Idaho has not become as crowded as most of the busy vacation destinations in the USA. Though the tourist destinations in Idaho are as picturesque and as enjoyable as you can get it still retains its originality and freshness. There are a myriad of activities that vacationers can indulge in Idaho. The amenities like healthcare and connectivity also leaves no room for complaint in Idaho.

Your dream of buying a vacation home with a view of snow capped mountains or placid lakes can take shape with Idaho construction loans. A vacation home in Sun Valley, the number 1 skiing resort in the country; or overlooking Lake Payette in McCall; or in Boise allowing you to go white water rafting in Coeur d’Alene or Island Park as an alternative to Jackson Hole Wyoming can be financed through many of Idaho vacation home loan programs. Depending on your need you can choose from Idaho lot loans, Idaho construction loans, and one time construction loans Idaho. Each of these financial programs has several flexible policies that a prospective buyer can opt according to his specific needs.

Idaho, the snowmobiling paradise, is truly a vacation destination and its essence can be savored more by a vacation home owner.

Wyoming Vacation Home Loans

The majority of the Wyoming state is dominated by Rocky Mountain ranges and rangelands. The mountain ranges of the North West taper off in to beautiful open plains in the east in Wyoming. Such diversity makes this musically sounding state a sanctuary for vacationers. Travel and tourism industry along with mineral extraction industry form the main driving force of the economy. Millions of tourists visit Wyoming every year. The national parks: Grand Teton National Park and Yellow Stone National Park are just two of the main tourist attractions of the state. Nicknamed as the “Cowboy State”, Wyoming has been ranked as the 3rd most livable state in the USA for 2007. Yellow Stone National Park and the Devils Tower are the two oldest national parks and monuments, respectively, in the USA. Jackson Hole Resort and Teton Village are undergoing major on-mountain and village development as are surrounding resort areas.

Of course the vacation homes are costlier in this state simply because of the booming tourism industry. But that should not deter interested buyers as Wyoming vacation home loans are here to help achieve their goals. Whether you are looking for condotels, luxurious villas, modest cottages, or simply land to build your dream vacation home your financial needs can be met by Wyoming lot loans, Wyoming construction loans, or one time construction loans Wyoming. All these Wyoming vacation home loan programs have features that can suit any type of buyer. For example the lot loan program of Wyoming can be exempted from proof of income.

Jackson Hole, Wyoming is a premier vacation spot in the country. And Wyoming vacation home loans can get you a home there as well as in any of the important places of this essentially Wild West state. We often can provide zero lender fee loan program options.

In the Final Analysis

The reasons for buying a vacation home are not often financial. There are overriding emotional, recreational, and family reasons for buying a vacation home. But that doesn’t mean financial considerations can be overlooked. The real estate market for vacation homes has its own set of risks, especially if you are considering reselling it in future. Due diligence and ample amount of research is advised before zeroing on buying a vacation property. If selected with weighing the pros and cons properly your vacation home could end up as a peaceful retreat as well as a solid financial asset.

A buyer should be prudent enough to opt for a property that meets his vacation needs. Several factors should be taken in to consideration while buying a vacation home in any of the above mentioned five states. Direction of future growth in that particular area, possibility of price appreciation, commuting distance from the nearest city or town (in worse weather conditions), availability of healthcare during emergencies, help accessible during natural disasters, and the presence of friends and relatives or the presence of a community in the proximity should be thoroughly considered before deciding to buy a vacation home. Some local rules also should be studied as they can make a lot of difference to the purpose of your vacation home buying. A local caveat restricting short term rentals can work against your aim of earning substantial revenue through rentals.

Securing funding for a vacation home is not that difficult as actually there is a wide range of financing alternatives; a prospective buyer should study the pros and cons of all loan instruments. When deciding about a fixed rate or an adjusted rate, the time period of repayment of the loan, various conditions and clauses of a loan instrument should be studied properly.

Things to Consider When Funding For Resort Properties and Vacation Homes

For people working hard, playing and vacationing harder seems to come naturally. Vacationing in a relaxed milieu surrounded by pristine nature rejuvenates the body and the mind. Therefore vacationing has become an essential activity pursued by most of the busy people in our country. After shuttling between office and home for months, busy executives and entrepreneurs look forward to the much needed vacation breaks and welcome those with joy.

A typical vacation requires a lot of advance preparations such as: bookings and reservations of plane tickets to the vacation destination and arranging accommodations. Enjoying a vacation involves smart planning. Owning a vacation home is definitely a part of that smart plan as it takes care of the most important item of a vacation plan – accommodations.
Vacation homes are preferred because:

o After all it’s a real estate investment and if done wisely can turn into an income yielding financial asset.
o It allows going on a vacation whenever the mood strikes, without waiting for reservation confirmations.
o There are a host of tax benefits that can accrue to a vacation home owner.
o Appreciation in the property value can result in a sound investment.
o Owning a vacation home means never having to perform major packing and unpacking chores interfering with the enjoyment.

Colorado Vacation Home Loans
A second home or a vacation home is not the topmost priority of an average American household. But still it enjoys an importance that is hard to ignore. The year 2005 witnessed a steep increase in the number of people buying second homes. The year proved to be hot for second homes with a 39% of all transactions accounting for second home purchases.

Despite the appreciation in the prices, an increasing number of people are buying second homes for vacation or retirement. According to a survey conducted by the National Realtor’s Association nearly seven million vacation homes now exist in the USA and it is projected that more than 30 million people will buy vacation homes in the next decade. The easy availability of home loans is the reason why owning a vacation getaway is not an impossible dream that is just meant for the wealthy. Funding of resort properties and vacation homes has become easier than they were a decade ago.

Ideally, vacation homes should be situated within 2-3 hours drive from a major metropolitan area as longer drives could be tiresome and take the fun out of vacation. They should be situated near a lake, overlooking an ocean, or providing a vista of the mountains. The benefit of buying vacation homes around these natural beauties is that as their rates are likely to appreciate in the future or at least very unlikely to depreciate if not appreciate greatly. Of course, most of these resorts feature amenities such as Ski Mountains, golf courses, bicycle and hiking trails, and other outdoor sports.

And when it comes to buying resort property or vacation homes nothing beats the states of Washington, Idaho, Montana, Wyoming, and Colorado. Moreover Washington, Idaho, Montana, Wyoming, and Colorado construction home loans are easy to secure with a down payment as little as 5%. The interest rates are the same as first home loans, in most cases.

Colorado offers an amazing variety of vacation ideas. From watching bald eagles in one of the national forests to motor cycling across the state – the idea of a vacation in Colorado is exciting and refreshing. Therefore Colorado figures as one of the most preferred states for vacation home buying. Forbes magazine reports that Eagle, Colorado is becoming popular with vacation home buyers. Eagle, Colorado is preferred by people who love to ski but do not wish to be in a skiing town such as nearby Vail or Aspen. The property prices here range from $350,000 for townhouses to $1.5 million for single family homes.

Fixed rate mortgage, adjustable rate mortgage, and interest only programs – Colorado condominium loans are available in various forms. Keeping pace with the latest trends in real estate market Colorado also offers condotel home loans where the owner can earn rental income when not using the luxury hotel suite property. Other vacation home buyers unwilling to own a home solely can consider Colorado fractional loans. Constructions loans in Colorado come loaded with so many options that a vacation home buyer really has a plethora of choices.