Pup
newbie
We fell in love with a slopeside unit but not sure if anyone will finance a "fractional" ownership. They referred us to a group in Colorado for funding. Getting a little worried over this. Any advice??
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Anyone Own At Jackson Gore?
- Thread starter Pup
- Start date
london
TUG Member
Jackson Gore Inn
I found a real estate agency in Ludlow Vt that listed fractionals unit. Starting price was over 100K for a 10 or 12 week package. That was for a studio unit.
One and Two Bedroom units were much higher.
Any financing would most likely have interest rates of over 10%.
This would be an investment to think long and hard about.
I found a real estate agency in Ludlow Vt that listed fractionals unit. Starting price was over 100K for a 10 or 12 week package. That was for a studio unit.
One and Two Bedroom units were much higher.
Any financing would most likely have interest rates of over 10%.
This would be an investment to think long and hard about.
Financing in Vermont for fractionals
I have heard that Union Bank has been financing timeshare and fractionals for Trapp Family Lodge on favorable terms with good results for a long time. Perhaps you can contact a local branch of this Vermont institution and ask them if they will finance Okemo fractionals. If they don't, but they finance Trapps, it would be a very interesting question to bring to the banking commission.
I have heard that Union Bank has been financing timeshare and fractionals for Trapp Family Lodge on favorable terms with good results for a long time. Perhaps you can contact a local branch of this Vermont institution and ask them if they will finance Okemo fractionals. If they don't, but they finance Trapps, it would be a very interesting question to bring to the banking commission.
Pup
newbie
Looks like we found financing and will be closing in 30 days. Yes- they are pricey- but for a 2 bedroom slopeside on Okemo, it's like a dream 
and the trading power with RCI is fabulous.
and the trading power with RCI is fabulous.
S
Sherpa
There are various folks who offer fractional mortgages, although the number of companies has thinned out a bit over the last year.
Have a look through our articles for some ideas and companies:
http://www.sherpareport.com/prc/fractional-mortgage-update.html
http://www.sherpareport.com/prc/fractional-mortgage.html
Cheers
Have a look through our articles for some ideas and companies:
http://www.sherpareport.com/prc/fractional-mortgage-update.html
http://www.sherpareport.com/prc/fractional-mortgage.html
Cheers
S
Sherpa
PS we skied at Okemo this winter and had a great time
had never been there before but would certainly go again.
had never been there before but would certainly go again.
Pup
newbie
Sherpa- looks like we were denied funding from Nexstar as of yesterday. Looks like they are the only "player" out there when it comes to fractional mortgages. Do you know of any other companies? Actually nexstar thought we were fine- it's the bank that they use that is looking at our issues (husband's commissions.) differently and has calculated our debt to income ratio completely different from nexstar.
S
Sherpa
Pup, have you tried
- http://www.vailbeavercreekmortgage.com/asp/default.asp?p=4
- Stephen Gordon at Cartert Mortage - certainly used to do Fractionals
- http://www.independentresortlending.com/about.htm
FirstAgain may be another good place to look
- http://www.vailbeavercreekmortgage.com/asp/default.asp?p=4
- Stephen Gordon at Cartert Mortage - certainly used to do Fractionals
- http://www.independentresortlending.com/about.htm
FirstAgain may be another good place to look