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Just 32 miles from downtown Salt Lake City is a quaint little resort town known as Park City. The town’s main attraction is the championship caliber ski resorts that employ many of the town’s year round residents.

There are 3 main ski resorts in Park City; Park City Mountain Resort, Deer Valley Resort, and The Canyons Resort. Deer Valley is open to just skiers while The Park City and The Canyons Resort ski resorts allow both skiing and snowboarding.

Park City Mountain Resort hosted the 2002 Winter Olympics and held the all the snowboard events and the men’s and women’s alpine giant slalom events. They also hold many of the training courses used by the U.S. Ski Team. The Olympic-sized halfpipe, used in the 2002 Winter Olympics, is one of the most visible runs at the resort.

Deer Valley catering to skiers and provides them with upscale amenities and world class slopes to ski. Snowboarding is prohibited at Deer Valley. The freestyle moguls, aerial and alpine slalom events in the 2002 Winter Olympics were held there. The International Ski Federation routinely holds competition at Deer Valley.

The Canyons Resort was originally founded by the Park City Mountain resort. In ’97 the resort got it’s current name after being brought by American Skiing Company. Today the resort is owned and operated by Talisker Corp.

The area also features many private and gated communities for those who are looking to own a second home in Park City. One of the premier communities in Park City is Wolf Creek Ranch. This beautiful community offers a manned and electronically accessed gate with 24/7 security patrol service, security cameras, and monitoring for security.

In addition to skiing, residents enjoy walking, hiking, biking, horseback riding, and fly fishing for trout on the Provo River. The 26 acre equestrian center offers a 28-stall stable with tack room, equipment barn, hay storage barn and large riding space within the community.

Closing Comments

Traveler Magazine named Park City one of the 20 “prettiest towns” in the US in 2008. If you will be skiing in Rocky Mountains consider staying in Park City.

Hubert Miles is the founder of Gated Communities USA which features the best Gated Communities in the USA and Internationally. Find information on Gated Horse Communities.

For those of you who are new to mortgages or new to the process of applying for a home loan, this article will be a valuable resource to introduce you to the basic fixed rate mortgage. This is one of the easier mortgages to understand and also relatively easy to calculate. A basic understanding of the fixed rate mortgage will help you understand how other mortgage products may differ from the fixed rate, but also help you to ask intelligent questions when speaking with and evaluating a loan officer you may potentially be working with.

The fixed rate mortgage is by far the most common type of mortgage. When new homebuyers begin pricing loans, these are typically where people will start. Most fixed rate mortgages advertised also usually talk about the rate for a 30 year “fixed” rate. When people talk about their mortgage, there is a very good chance that they are referring to their 30 year fixed. A little less common are the adjustable rate mortgages. Of course there are dozens of different mortgage products available based on the needs you have. Interesting that the selling of “money” is basically packaged in different forms just like any other product or service.

These fixed rate mortgages are most commonly setup with 15 or 30 year term, but also have options for a 10 year or 20 year, or even a 40 year mortgage. The longer the mortgage term, typically the lower the interest rate as the bank or financial institution that is extending the loan will typically make more money, at least via interest paid on the loan. This is why the shorter term rates are typically a higher rate.

Fixed rate mortgages have the same payment for each period. The benefit here is that you are able to base your monthly budget or even bi-weekly budget from the amount you’ll be paying each month towards your mortgage. Because the rate doesn’t change, neither does the monthly payment. This makes the fixed rate mortgage very predictable.

There are several loan products or mortgage programs that have what is known as a “balloon” payment where payments are made either directly to the interest as in the case of an interest only loan or even interest and principal with a lump sum due at the end of a given period (usually a couple of years). The fixed rate mortgage is different in this regard, at least the traditional style of mortgage here this article discusses. When you pay off your mortgage with a fixed rate mortgage, you owe nothing more to the bank or lender. There is no need to refinance your home or come up with cash to pay towards a lump sum payment or balloon payment. This style of mortgage is probably the most conservative of the various mortgage products.

On a typical 30 year fixed rate mortgage, you’ll pay your monthly payment of which a percentage of that amount would go toward the principal and the other percentage goes towards interest. This is done on a sliding scale, so the first years of the mortgage, you’ll be paying more in interest to the bank than paying down your loan. This is as designed by the banks who fund these mortgages. Their expectation is that they get their interest paid to them before you’re “allowed” to use more of your regular monthly payment to go towards the principal. This is all done behind the scenes, but it is interesting to know that you won’t start paying more towards your principal than interest until year 22 of your mortgage. There isn’t anything to prevent you from paying down your mortgage early, however, and may be a very good idea depending on your life situation.

Getting a fixed rate mortgage is a good program for a large percentage of home owners in today’s society. Keep in mind, however, that this is not the only option. But, if you understand the basics of the fixed rate mortgage, you’ll better understand the other mortgage products that are available as they are explained to you by your loan officer. It’s important to find someone you can trust to work with on your home loan. This will get you most of the way to where you need to be for getting a mortgage or looking into refinancing.

Brian Armstrong is a licensed loan officer in the state of Utah. He actively promotes information about Utah mortgage rates on his website. You can also find some detailed information about the services and types of home loans Brian offers from his website about mortgages in Salt Lake City.