BELIEVE IT OR NOT, THIS YEAR MAY BE THE PERFECT TIME TO BUY A SECOND HOME!

Believe it or not, according to J.P. Morgan Global Research, housing prices in the U.S. are

predicted to remain stable. Following a decade in which housing prices nearly doubled,

Now it could be a great opportunity for that second home.

It’s always a big decision, so make sure to weigh the pros and cons with us before you buy.

Second Home: What Are Your Goals?

If you want a weekend getaway spot, buying a home within a day’s drive of your home

will probably be your best choice.

On the other hand, if you’re looking for a future home during retirement, it’s a

a good idea to check out homes or condominiums that are single story, have easy

accessibility, and have adequate health facilities nearby.

We Know How to Save You Money!

For example, buying a second home more than 50 or 100 miles from your primary

residence, or in a different county, can often help you obtain a lower interest rate on the

mortgage loan.

Regardless of location, lenders will want to be sure you can afford both your first home

and second home mortgage payments comfortably.

Typically, they will want to verify you have at least a two-to-six-month cash reserve of PITI

or Principal, Interest, Taxes and Insurance.

This reserve shows your ability to afford payments on your primary home and

second home mortgages in case of a job loss or other unexpected emergency.

Buying a second home can seem overwhelming, but with proper planning, you can

rest easy knowing you’ll enjoy all the benefits of second-home ownership.

We’re here to help you finance that second home you’ve been dreaming of!