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Be sure to use local professionals

BOB KIEBER
Bob Kieber
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As a local High Country lender I keep busy providing mortgages for buyers of homes here. I do venture out of the mountains and close some mortgages in the Front Range, and I have gone as far west as California, but most of my business is at a higher altitude. So when I heard from a buyer today that they were going to use a Front Range lender because they know how to get a better deal on the mortgage, I had to keep from laughing out loud.

That statement is like saying that a chef can cook a better steak because they’re next door to the slaughter house or the guy who changes the oil in my car is better at that job because he is right down the road from the oil refinery.I am a person that believes that a local title company is more familiar with the way things are done locally, and that they have much more experience with the various niches we have here in the High Country, such as mineral rights, water rights and mining rights.I also believe that a local appraiser knows the local marketplace better than an appraiser who is unfamiliar with the local ways and customs. Prices per square foot here in the High Country can differ just based upon the views and if you are slope side or parking lot side.

Now on to the mortgage lenders who work the High Country versus those who are used to providing mortgages for the suburbs at a lower altitude. Each and every locale has a certain uniqueness to it. The Cherry Creek area in Denver has very unique homes and certain things that a mortgage professional needs to know prior to submitting the mortgage package to the underwriter.The same is true for a home in Keystone or a condo in Breckenridge. There are items such as condo managers that must be contacted so the file details the number of primary homes, second homes and investment properties. There are items such as warrantable and non-warrantable condo complexes that can make or break the mortgage approval.Each neighborhood in every part of the High Country can have a title problem, a fire district concern or an appraisal concern.

By using a local real estate agent, mortgage lender, title company, surveyor and appraiser, you as the buyer are taking advantage of the local talent. Now this is not to say that the local talent being used is always going to get the deal closed. But if you use the right people, who are familiar with the area and its attributes, the chances are that the deal will go much quicker and easier on you, the buyer.For answers to your mortgage related questions, call BOB KIEBER at (970) 262-1199 or e-mail him at rkieber@comcast.net. Bob is a local mortgage banker and principal of Resort Lending. He has 30-plus years of professional experience in real estate, finance and investments, and is a longtime resident of the High Country.Summit County Colorado Real Estate


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