Are you Interested in Purchasing a 2nd Home?
Did you know you may be able to purchase a 2nd
home with as little as 5% down payment?
I have recently found several inquires involving questions with respect
to minimum down payment requirements.
Most people are of the opinion that there is a minimum down payment
requirement of 20% which puts this option out of a reach for most. That is not the case.
I recently arranged a mortgage for a client who wanted to
help her daughter and son in law get into a new home, but they could not
qualify for the mortgage on their own, we did a new house purchase with 5% down.
I also assisted some other clients in
purchasing a vacation home that they can enjoy with their family. These clients used their Home Equity Line of
Credit to come up with the minimum 5% down payment requirement.
- I have a number of lenders who offer mortgages under their 2nd Home Program. Below are just some of the benefits to this program.
- Purchase a home with as little as 5% (must be below $500,000, otherwise 10% of everything over $500,000 for a down payment)
- Access to the lenders best rates, so won’t be penalized
- Exercise the lenders pre-payment privileges to pay down your mortgage faster
- Can you your existing homes equity to come up with the down payment
- Purchase a vacation home
- Purchase a home for your children
- Turn your current home in to a rental so you upgrade your house
My lenders are flexible and offer excellent solutions for
purchasing your 2nd home.
Within just a couple of minutes I can help you come up with a budget so
you can start your new home search. Call
me now to explore your options.
Please note, property must be owner occupied, 2nd homes occupied by related family members is ok.
