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Conforming loans – With the GSEs' backing in place, lenders can make conforming loans at lower rates for those with excellent credit. Lower rates mean lower monthly mortgage payments. Conforming loans are also relatively easier to qualify, including down payments as low as 3% for special first-time homebuyers programs. Non-conforming loans – With no agency restrictive guidelines, non-conforming lenders can approve borrowers with credit issues and high debt-to-income ratios. Jumbo loans are ideal for borrowing higher amounts. Conforming loans adhere to risk-based pricing called loan-level pricing adjustments (LLPAs) in determining the mortgage rate given to a borrower. These LLPAs vary by credit scores, loan-to-value ratios, and the property's number of units. Borrowers generally need to have excellent credit to qualify for lower rates and negotiate other loan costs. Meanwhile, the bigger loan size makes jumbo loans riskier for lenders. To offset this risk, lenders may require down payments of at least 20%, higher interest rates, and more-than-average credit profile.

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Update on Vail Resorts Operations from CEO Rob Katz RESORTS WILL NOT OPERATE SUNDAY, MARCH 15 THROUGH SUNDAY, MARCH 22, WITH FURTHER GUIDANCE TO FOLLOW This has no doubt been an incredibly challenging time. With 37 resorts spread across 15 states and three countries, we – like the rest of the world – have been closely tracking every new development related to coronavirus (COVID-19) and have been in constant contact with local health officials for guidance. Without question, our top priority has been the health and wellbeing of our guests and employees – and to no lesser extent the health and wellbeing of the communities where we operate. We know each decision we make has a broad impact far beyond our operations. With each of those stakeholders in mind and with the most updated information from local health officials, we have made the difficult decision to suspend the operations of all our North American mountain resorts and retail stores beginning Sunday, March 15, 2020 through Sunday, March 22, 2020 and will use that time to reassess our approach for the rest of the season.

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Monday, 19-Jul-21 00:23:47 UTC