A Guide to Leavenworth, Washington CondosTopic: Mortgage
A popular tourist destination in the North West, Leavenworth is the home of a collection of high end condos. With its snow covered mountains and lots of sunshine, the place will immediately remind you of the Swiss Alps. Located on a height of 8000 ft at Cascade Mountain, Leavenworth makes the perfect Bavarian gateway for the urban travelers. Just imagine owning a home of your own in this four-season paradise. Leavenworth Washington condos are just the perfect way of unwinding during your winter vacation. With such on site amenities as Movie Theater, entertainment center, fitness room, spa services and fine dining restaurants, these Washington condos can offer you everything to help you enjoy a great skiing vacation.
Though not many, Leavenworth has a diverse collection of Washington condos which suits every need. Before you buy a condo in Leavenworth, you must keep in mind the zoning factor. Condos here strictly follow zoning rules, and there are separate zones marked for commercial and residential condos. While residential condos in Leavenworth can be rented on a monthly basis, they are not allowed to be rented on a nightly or weekly basis. If you are looking for residential properties in Leavenworth, then you can explore the Washington condos that are situated at Granite Court, along Whitman and Prospect Streets, and up Titus Road. Generally, all the Washington condos located North of Highway 2 in Leavenworth is meant for residential use. If you want to invest in vacation condos and want to earn from it, Aspen Suites at Icicle Village, Haus Wunderbar or the Amadeus Suites offer just the right option.
Leavenworth also has a collection of wonderful golf condos. In Leavenworth, there are two premier golf courses that have condos close by. You can invest in Kahler Glen Condos or in Natapoc townhouse units near Kahler Glen golf course at Lake Wenatchee.
Or you can also consider investing in the Washington condos at the 17th Fairway and Summer Green near The Leavenworth Golf Club.
However, if downtown condos are according to you that you want to own, then River Park Homes in downtown Leavenworth, Amadeus Suites, Aspen Suites at Icicle Village Resort or Haus Wunderbar can be perfect options for you. These condos are not only in the walking distance from the downtown Leavenworth but they are also close to the Kahler Glen and Leavenworth golf course.
Tucked in the lush valley and surrounded by majestic mountain peaks, Leavenworth is a scenic destination just 118 miles driving distance away from Seattle. Leavenworth is a thriving city with sophisticated schools and picturesque neighborhoods. No matter whether you want a primary residence or a vacation property, Leavenworth, Washington condos make excellent choice for the home buyers.
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We have a fixed rate mortgage and when we got it 3 1/2 yrs ago, we deecdid that the best thing for us (not for everyone, obviously) was to lock in for a 10-yr term at 5.5%. Yes, the variable rates are super low and have been for the last 2 yrs or so, but we sleep well at night knowing we calculated what we could afford monthly for a 10 yr period and we have no worries about what the rates will do for the remaining 6.5 yrs left on our term. We can afford 5.5% and probably upwards of 7-8% if necessary and we also have some wiggle room to temporarily extend the amortization from the current 16 yrs back up to 20-25 or even 30 yrs if we are suddenly down a significant amount of income. We'd hate to do that, but it's an option in the case of a sudden temporary income loss.
You can roll in other debt to your mortgage dndenpieg on how much you qualify for and how much you intend to borrow. The question of weather you should is a matter of your circumstances. You usually pay less in interest on a car/student/credit card loan over the life of that loan than you would if you payed interest on it over the 30 years of a mortgage. Your mortgage broker should be able to show you what the actual cost would be throughout the life of the loan.
The way to make this work is for you to buy a 2 or 3 or 4 flat and live in the building. Otherwise it won't work. Frequently after 4 units, even if owner ocecipud, you make the higher down payment and pay the higher interest rate, but check around with lenders. You need larger down payment for investment, non-owner ocecipud dwellings. It's harder to get loans, there is higher down payment and higher interest rate when not owner ocecipud. Banks only count 65% of rental income as there could be vacancies.FYI: Knowitall, There are wrap mortgages that cover more than one property, but doubt he could get one as a novice real estate investor.
My father is a coicermmal real estate broker and he has definetly made a very successful living off of it. I dont know exactly how much comission he makes, but I have heard he has made 4 million before on one building, I dont know if that is the highest he has made on one building though. He has sold 70 million dollar buildings before. It definetly makes you much more than residential real estate. And the market doesnt get bad for coicermmal. It is a better market and a smarter choice.
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