Financing a Second Home
Local Lenders Can Make a Big Difference
It is surprising for many to learn that financing a second home is very similar to financing a primary residence. In fact, in many cases the interest rate and fees are the same.One bit of advice; look locally for a reputable lender. I can refer you to lenders who do business locally and regularly.
Local lenders have loan representatives and underwriters who can make the process flow more smoothly than lenders who aren’t familiar with the area.
Out-of-town lenders often experience challenges in a smaller remote resort communities, resulting in unnecessary processing delays. It is a smart idea to speak with a lender prior to getting started in your property search.
Once that is accomplished you will have to decide on a price range based on the down payment and monthly payment requirements.
And your offer will be stronger if the offer is accompanied by a pre-approval letter from a reputable, local lender. I will be pleased to present you with a short list of lenders who do business in the are regularly. I am here to help you!
Dana Smith, Broker Associate | RE/MAX Gold | 559-779-7534 | DRE #00836017