“Vacation Homes, a Time to Buy”

Last week, I did three preapprovals for folks getting ready to buy a vacation home. One along the Connecticut shoreline, one in New Hampshire and the other in Florida.

Two of the preapprovals will be with 20% down, the other 5% down.

There is no shortage of financing available for vacation homes, so it is certainly a great time to be a buyer. Rates for a second home are the same as a mortgage on a primary residence, even though many that call me have an expectation that the rates would be higher, just not the case.