Second Home or Vacation Property

Considering the prevailing rules and regulations along with the recent imposition of more stringent selection criteria concerning the ownership of a recreational property or second home, obtaining a vacation-home loan has become increasingly challenging these days. Thankfully, you do not have to worry about anything when you team up with us, and at Ramanand Mortgage Services, we take great pride in providing a surprisingly varied selection of such loan programs.

Leveraging the equity of your first property to purchase another is no doubt an excellent way to start exploring the realm of real estate investing along with yielding a sustainable passive income in the long term. Provided your primary house has accumulated enough equity over time to help you finance the down payment of the second one, you may consider utilizing this money through refinancing or simply applying for a Home Equity Line of Credit (HELOC).

To suffice, one of the most significant advantages of choosing a HELOC over the rest of the available financial alternatives is that the cost of origination is trivial or can even be zero and you are required to pay only the interest incurred on the amount of money you are planning to obtain from your approved credit line.

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