Vacation Home Loans

Vacation or second homes provide a quiet place for family vacations or as a retirement home in years to come. For many families, there is no better vacation than returning to the same home year after year, to build a lifetime of happy memories at "the summer house". I have an increasing number of clients looking for mortgage options for property other than a principal residence. If you are looking for a cabin on the lake, or in the woods, a home at the beach, or just a piece of land to build on in the future we can help you.

While many lenders only offer vacation home loans requiring a 20 % down payment and at interest rates much higher than required for conventional loans, We can make your dream come true with only a 5% down payment. And at regular, conventional interest rates. Vacation home loans are available as 30 or 15 year fixed rate, adjustable rate loans, balloon loans, and we can even help you with a "stated income" loan is your income is difficult to verify. Many of my clients obtain the down payment for their vacation home by taking out a home equity line on their primary residence. If the borrower can afford the monthly debt payments of the equity line, this technique can be an easy way to get the cash for the vacation house.

New! 100% financing is now finally available for vacation or second homes! Financing is available up to $400,000 with a 45% debt to income ratio, $1,500 residual income and only 2 months of liquid reserves. When you find the "perfect" vacation home, we have the financing that makes sense.

We can help finance the home if you are building with a construction/perm loan. If you need to remodel, I can help. If you are buying land to build on later I can help you with a lot loan. Or, if the home is already built, I can help you with the permanent loan. We offer 30 and 15 year fixed rate Mortgages, adjustable rate mortgages, balloon mortgages, stated income, and no documentation loans. We can even finance your vacation home with a program which will allow very high debt to income ratios. If you are concerned over having to make a large down payment, I have several loan programs which will allow only a 5% down payment for vacation homes.  I am seeing more of my current clients looking at interest only options to hold down the cost of ownership.

Many of my clients are converting from fully amortizing payments to an interest only approach with a significantly lower monthly payment. I have some extensive information available. Read more to see if this powerful tool could work for you.

We offer you the ability to qualify and close into several unique programs which accommodate borrowers with non traditional income or asset situations. Please visit my No Docs page.

* I have included a section on the new Cash Flow ARMS. A LIBOR or MTA based product which gives you complete flexibility in managing your mortgage. This is the loan product I have on my own vacation home.