Are you thinking about buying a property in Hunterdon County as your second home? Perhaps you are looking for weekend home along the Delaware River where you can escape to for your vacations, or maybe you want to have another home closer to relatives? Maybe you want to rent out that second property and make a steady income from your investment. Whatever the reason, a second piece of real estate can be a fantastic investment. However, sometimes getting a mortgage on a second home can be a quite a challenge.
Generally, a mortgage lender will have stricter guidelines for second home loans as compared to primary home loans. This is because usually when you are buying a second home your finances will be stretched thinner and you will have less money to spare because you are already paying a mortgage on your primary home. This will mean that your second home mortgage can be harder to get and might have a higher interest rate.
Here are some tips to keep in mind that will help you to get the best financing on your second property Read More...
Patricia "Patty" Mortara | Hunterdon Realty Group | Flemington, NJ
Office: 908.782.0095 | Mobile: 908.349.0095 | HunterdonRealty.com
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