Cape Gazette
http://capegazette.villagesoup.com/p/1099595

Second Home Financing

By Bill Cullin | Jan 20, 2016

You have returned every year to your favorite vacation area, and have finally decided to buy a second home in the special place where you enjoy your holidays. It is an excellent time to apply for a mortgage loan to make your purchase.

The climate for second home mortgages is the most favorable in years. Low interest rates and a recovering economy have attracted more buyers than ever before to purchase a second home for investment and vacation purposes. Many homeowners with a strong credit history have been able to qualify for a home equity loan at excellent rates, and have used their equity cash for down payment and closing costs on a second home.

Lending institutions are offering a wide range of affordable home loans. The rule of thumb is that a buyer can qualify for a loan amount based on 28 percent of their gross income. Often repeat buyers discover that they can borrow more than they assumed possible.

If you wish to take advantage of today's reasonable interest rates to purchase a second home, consult a real estate professional who can help to make your dream a reality.

 

To Learn More, Contact Bill Cullin Today.

Bill Cullin, REALTOR®

Your Real Estate Source at the Delaware Beaches

Website: www.DelawareBeachRE.com

Direct: 302-841-7147

Office: 302-227-2541

Toll Free: 1-800-462-3224, ext. 117

Fax: 302-227-8165

Long & Foster Real Estate, Inc.

37156 Rehoboth Avenue Ext, Suite 5

Rehoboth Beach, Delaware 19971

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