Investing in a Vacation Property? Learn What You’ll Need to Have to Get A Mortgage Approved
With approximately one million people having purchased vacation homes in the last year, this type of residence is gaining popularity for those who are interested in a home in a beach setting or a vacation hot spot. However, while a second home can seem like a great purchase and solid investment opportunity, there are different requirements that go into this type of purchase. If you're considering a vacation home, you may want to be aware of the following financial factors. The Down Payment Amount If you currently have a primary residence, you may be aware that you don't need to…