Vacation Second Homes
Vacation or second homes provide a quiet place for family vacations or as a retirement home in years to come. For many families, there is no better vacation than returning to the same home year after year, to build a lifetime of happy memories at "the summer house". I have an increasing number of clients looking for mortgage options for property other than a principal residence. If you are looking for a cabin on the lake, or in the woods, a home at the beach, or just a piece of land to build on in the future we can help you.
Are you interested in learning how to buy a home with bad credit?
While many lenders only offer vacation home loans requiring a 20 % down payment and at interest rates much higher than required for conventional loans, We can make your dream come true with only a 5% down payment. And at regular, conventional interest rates. Vacation home loans are available as 30 or 15 year fixed rate, adjustable rate loans, balloon loans, and we can even help you with a "stated income" loan is your income is difficult to verify. Many of my clients obtain the down payment for their vacation home by taking out a home equity line on their primary residence. If the borrower can afford the monthly debt payments of the equity line, this technique can be an easy way to get the cash for the vacation house.
Mortgage & Debt FYI
Many self-help guides to getting out of debt suggest credit card debt consolidation
as helpful tool for debt management. Debt consolidation, in simple terms,
means taking all the money you owe to different sources, or in most cases,
different credit card companies, and putting it into one source of debt-either
another credit card or some other type of loan.
If you are diligent about either paying off your debt or switching again
to another low interest program before the low interest rate time period is
up, then you will be able to save hundreds of dollars in interest payments.
Request a FREE Mortgage Quote online and learn how a debt consolidation
loan could save you over $4,000 per year!