Second Home/ Vacation Home Purchases

Vacation Home sales are booming nationwide as more and more baby boomers become of age.  Vacation Homes aren't only for rich people.  They have become mainstream, whether they're used for vacation or for rental income.  With primary houses paid off or soon to be paid, thoughts of Second Home retreats are prevalent.

More than 9 million dwellings in this country are Second Homes and you don't have to have a pile of cash to buy one.  Financing is easier than ever before to obtain and we have the full array of Second Home mortgage programs to fit your specific needs and goals.

There are various options available for financing your Vacation Home.  Obtaining a second mortgage on your primary home is one option, especially with today's favorable interest rates.  This option assumes you have the equity to fund the purchase entirely.  If not, you could still fund part of the purchase price by using the second mortgage on your primary home as the down payment and obtaining the balance of the financing on the Second Home.

Another option is to obtain 95% financing on the Vacation Home without any out of pocket costs to you.  This option is quite popular and is available on a full doc or no income verification ( stated income ) basis for those borrowers that are self employed, in cash business, or get paid by 1099's or bonus income.

And don't forget the tax benefits of owing a Second Home.  Tax deductible interest expense and other deductions make your Vacation Home purchase a sound financial decision as well.

Whether you need 100% financing or choose another option our pre-approval process is free with absolutely no obligation.  Apply online or call our 24 hour loan center for your free loan approval today.