Secondary, or recreational, homes are increasingly popular for a variety of reasons. Its an investment that makes financial sense, and also provides you and your family with a lifetime’s worth of memories. There are plenty of lenders who will provide financing. However, you need to be able to qualify for both the mortgage on the new home as well as the mortgage and any other expenses associated with your primary residence.
There are several different options, using the equity in your principal residence to finance your vacation property or second home, or taking out a secured line of credit or second mortgage on your principal home. Also consider financing the vacation property on its own merits. Most lenders look for a well-built property, in a good location, and with year-round access.
By choosing a Mortgage Alliance Professional you can access all your mortgage options with just one phone call, one application. Your Mortgage Alliance Professional works on your behalf. We will place your mortgage with the lender that is the best fit for you, whether it’s a major bank or a private lender.
Going above and beyond the daily mortgage rate
As a mortgage broker, we need to know more than just the daily rate. We keep on top of all mortgage related news, and pass it on to our clients in the form of new posts, or periodical newsletters. One can never have enough information, especially if it can impact their financial health.
We subscribe to various industry specific new feeds and websites which keep us informed on the current money trends, and policies making their way down the pipeline.
An important part of being a mortgage broker is being up to date on current trends and practices. We are continuously “going to school” learning the new policies and practices that are critical in getting you the best products available.