Jackson Hole Real Estate Residential Loans and Financing Information

Residential Loans & Financing in Jackson Hole

Financing a property in Jackson Hole is not a problem for qualified buyers. Most developed Real Estate properties can be leveraged at 75% of the loan to value ratio. This would include most Jackson Hole homes, condominiums and multi-family units located in Teton County, Wyoming. The value is determined through the use of a certified appraiser in the area. Most loans require at least 6-8 weeks to process depending on the appraisal schedules of the local Jackson Hole Appraisal services.

There are 3 primary lending sources used for financing including Mortgage Brokers, Commercial Banks and Seller financing. Most Banks and Mortgage Brokers will lend money on a property with a First mortgage position filed as a mortgage lien against the property at the time of closing.

In the event a buyer is seeking financing from a lending institution on a specific property it is recommended that a financing clause be provided in the contract. Most contracts call out for the buyer to start the loan process within 10 days of an accepted offer and remove the contingency sometime prior to closing. If for any reason the buyer does not receive financing with this contingency in place, the buyer's earnest money would be fully refunded and the contract would become null and void.