Second homes are private ownership of property other than one’s primary residence.
Second homes are often called vacation homes or secondary residences, depending on how they are being used. This property must be available only for your exclusive use and enjoyment. They cannot be subject to rental pools or any long-term leases. If you’re employed and can afford to, buying a second home is a lucrative way to get set up for retirement and build additional equity. Mortgages for secondary residences are slightly different than with primary home loans. Need more information or want to get pre-qualified? Contact us today to get started.