Lower interest rates on mortgages, in recent years, have encouraged more and more people to invest in real estate. Most of them are opting for buying vacation homes. In fact, a recent survey from National Association of Realtors suggested that vacation home sales surged as much as 30 percent in 2013 compared to 2012. Popular places for buyers include Bethany beach, Ocean city, and Panama City beach.
Investing in second homes
Some people buy second luxury homes as a place for relaxing with their families. Some buy it for generating passive income. Others purchase it to spend their post-retirement days in a calm and serene place. It’s all about personal preference.
Getting mortgage for a second home has been difficult for an average borrower after the new mortgage lending regulations. Now, mortgage lenders screen consumers’ complete financial picture before lending them home loans. The regulations also suggest that a borrower’s entire debt payment should not exceed 43 percent of their gross income prior to tax withdrawal.
If you are planning to buy a second home in Coastal Delaware can help you to qualify for a second home loan even under such stringent regulations. They usually suggest you to make a down payment greater than 20 percent of the price. My clients are just blow away when they discover they can make that dream happen as little as 10% down.
If you feel that investing in a Scoond home is what you need and you can afford it right now, then by all means fill out the form below. Having a home where you can spend your post-retirement days in peace is a dream for many and reality for a select few. Having a second home in a popular vacation spot can have its own perks in terms of a healthy passive income too.
Some people buy second luxury homes as a place for relaxing with their families. Some buy it for generating passive income. Others purchase it to spend their post-retirement days in a calm and serene place. It’s all about personal preference.
Getting mortgage for a second home has been difficult for an average borrower after the new mortgage lending regulations. Now, mortgage lenders screen consumers’ complete financial picture before lending them home loans. The regulations also suggest that a borrower’s entire debt payment should not exceed 43 percent of their gross income prior to tax withdrawal.
If you are planning to buy a second home in Coastal Delaware can help you to qualify for a second home loan even under such stringent regulations. They usually suggest you to make a down payment greater than 20 percent of the price. My clients are just blow away when they discover they can make that dream happen as little as 10% down.
If you feel that investing in a Scoond home is what you need and you can afford it right now, then by all means fill out the form below. Having a home where you can spend your post-retirement days in peace is a dream for many and reality for a select few. Having a second home in a popular vacation spot can have its own perks in terms of a healthy passive income too.
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