Fewer vacation homes were sold while investment home sales soared last year based on the latest data from the National Association of Realtors’ 2017 Vacation and Investment Home Survey.At a glance, there were 721,000 second home sales made and 1.14 million investment homes were sold in Read more
How to Qualify for a Second Home or Vacation Home Purchase
You have worked hard enough in life that you decide you want to buy a second home. This is an exciting time! There is just something so different about owning a home you can vacation at rather than renting or staying in a hotel. The good news is the mortgage process is similar to the one you went Read more
A Primer on Refinancing a Second Home
Yes, it is possible to refinance a vacation home or a second home but things might prove to be more complicated and tricky than refinancing a regular residential property.For starters, many lenders are wary of refinancing nonowner-occupied properties because borrowers are more likely to default Read more
What Streamlined Refi Programs are Currently Available?
Rates have been on a steady hike after the historic US elections but Freddie Mac’s PMMS® results last week could just be the right signal for homebuyers and refinancers to lock in on rates. Not that it’s really necessary. With today’s record-low rates, and borrower-friendly mortgage programs, there Read more
Can I Add a Co-Borrower to My Mortgage Without Refinancing?
Can’t get a mortgage on your own? Why not add a borrower to your home loan? Getting a co-borrower is a strategic way to get your mortgage loan approved and indeed a more secure pathway to tackling the financial burden of homeownership. What is a Co-Borrower? A co-borrower is a someone who shares Read more
