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Need advice on a vacation home

We are looking into buying a vacation home somewhere on 30A and I'm curious about mortgages for these types of loans...LTV, rates, etc. by usefkj5302 from Panama City, Florida. Aug 14th 2017 Reply


Barclay Butler (Barclay)
#83 ranked lender in Illinois - 76 contributions

You need to put down 10%, rates start out in the low 4's if you have good credit. Barclay Butler. 224-420-9990. www.barclaybutlerfinancial.com

Aug 14th 2017
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Carlos Eliseo (carlos_186_486)
#148 ranked lender in Florida - 17 contributions

Residential mortgage loans for second/vacations homes are available for qualified buyers at the same rates as primary residences. Rates are in the mid 3's for 10 and 15 year terms and a bit higher for longer terms. The loan to value will be lower, normally beginning at 90% with mortgage insurance. Post closing reserves, good credit history and conservative debt to income ratios are a must for second home financing. Carlos Eliseo 561-252-1552 for more info.

Aug 16th 2017
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