Are you looking to purchase a 2nd home near a lake, beach, mountains, desert or other unique area?
Rates with most lenders are usually very similar to investment property rates, which are high.
Solution: 2nd Home rates at normal owner occupied rates with one lender.
- 6.125% 5/1 ARM rate, 6.243% APR or
- 6.25% 7/1 ARM rate, 6.327% APR
- No points
Scenario:
- $690k purchase price
- 25% down payment or $172k or as low as 10% down payment
- Condo
- 790 credit score
Second home: Borrower will occupy and will use the property exclusively for their enjoyment, not for timeshare, rental or other shared ownership.
Rave client review:
“I’ve known Dan Stone for over 20 years. I can personally attest to his high moral character and ethical standards. Dan‘s service saves his clients much more than his very reasonable fee. Thanks again, Dan, for the valuable help that led to a successful cash-out refinance of a second property…not the easiest thing to do!” -David M.
“I’ve known Dan Stone for over 20 years. I can personally attest to his high moral character and ethical standards. Dan‘s service saves his clients much more than his very reasonable fee. Thanks again, Dan, for the valuable help that led to a successful cash-out refinance of a second property…not the easiest thing to do!” -David M.