Are you looking to purchase a second home for a family member, such as a parent, son or daughter? Or, are you looking to purchase a vacation home?
Problem: Most lenders classify second and vacation homes the same as an investment property, due to past fraud by so many borrowers actually lying on their application and renting out the homes.
Solution: Several lenders offer portfolio loan programs and treat these loans the same as an owner occupied home.
Borrower Mary Ann example: $2.6 million purchase price, 20% down payment, $2.08 million loan, single family home, 760+ credit score.
Program description:
- 5.375% rate, 6.362% APR, no points
- 5/6-year ARM
- 20% down minimum
- $50,000 deposit at bank lender
- If 25% down, no deposit relationship required and same rate
Call Dan at 714-310-4162 to compare the options and find the best terms for YOU.
Rave review on Google:
“Dan Stone was fast and prompt, and found me a rate lock that saved $300 per month over everywhere else I received quotes. Dan puts in the time to give good service and, as I learned, he is a good human as well. He donates a lot of time and money to causes in Orange County.” -James B.
“Dan Stone was fast and prompt, and found me a rate lock that saved $300 per month over everywhere else I received quotes. Dan puts in the time to give good service and, as I learned, he is a good human as well. He donates a lot of time and money to causes in Orange County.” -James B.