THINKING ABOUT BUYING AN INVESTMENT PROPERTY OR SECOND HOME?
Whether you’re looking for paradise or profit, we can help.
Smart Investment Matters
We’ll evaluate your short-term needs and long-term goals
There are many things to consider before diving into having two mortgage payments. For starters, you want to make sure you can qualify for another mortgage loan. A second home buyer has to carry the entire new mortgage payment without the benefit of rental income. If you are buying an investment property you can generally use 75% of the current or expected rental income to help you qualify. Also, you will need to be able make a down payment of at least 10-25% of the home’s cost (10% minimum for second homes and 25% for investment properties) and come up
with some significant closing expenses as the property transfer tax for second homes and investment properties is higher than for primary residences.
If you’re considering purchasing an investment property or second home, make sure to talk to a qualified mortgage professional to better understand the options and avoid the potential pitfalls. No matter what you’re looking for, we’ll evaluate your short-term needs and long-term goals to find the perfect fit for your individual situation.
All loans are subject to credit and property approval. Other restrictions and limitations may apply.
Make summer maintenance simple with this handy checklist
There’s no time like summertime! With the arrival of the new season, you may want to consider performing some tasks around your home to get it in tip top shape for summer. As with all seasonal upkeep, summer maintenance is important to preserve the function, safety...
How to take cash out of your home and keep your mortgage rate
Homeownership provides shelter, stability and a sense of pride, and it can also serve as a valuable financial asset. If you find yourself in need of extra funds, tapping into your home equity can be an attractive option. Today, homeowners who want to access their...
5 ways to catch up on retirement savings
Feeling anxious about your retirement savings? Worrying about retirement is normal, especially when it comes to wondering if your funds will last. By some estimates, half of Americans don’t have enough saved for retirement. If you’ve done the math or talked with an...