In my experience, many folks are intimidated by the idea of buying a 2nd home. They may fear that it’s either too hard or too expensive. Well, that’s what I’m here for! I often help talk clients through this process and see if they have options. How To Buy A Vacation Home-
Rather than go through the entire process here, I’ll just hit 3 quick points. It all depends on how you structure the loan :
- 1- You don’t need a lot of money down. – You may be able to buy a 2nd home with as little as 10% down!
- 2- Rates may be the same for a 2nd home, or only slightly higher for an investment property than a loan for your primary residence.
- 3- Qualifications – An investment property can allow you to use the potential income to offset qualifying for the new purchase, reducing the income needed to buy.
Again, the Mortgage Plan used to put all this together is the critical factor. How you structure your purchase loan for a 2nd Home / Investment Property depends on your particular situation. However, the biggest take-home here is that most people don’t know just how easy it can be.
To find out how you can do this for yourself, click here to send me a quick email, or click my name below to learn more about me first.