Buying Recreational Property?

Mortgage Intelligence Has the Advice You Need

Summer's here, and many Canadians are taking a look at the investment and lifestyle benefits of recreational property.  Whether your perfect place is a cottage by the lake or a cabin in the mountains, you should be able to obtain financing on a second home with the same terms as financing on your principal residence.

Let our expertise in Cottage financing assure you that even if you buy island property or the cottage does not have a well and septic that you can still get a mortgage.  The guidelines for Cottage A type (built as a home) and Cottage B type (No year-round access, no central heat, etc) must be undestood by your mortgage agent and here at MI we are the experts!

How much you can afford to borrow depends on the size of your down payment, your income, mortgage interest rates, as well as your other financial obligations.  A mortgage consultant can obtain a mortgage pre-approval, which will give you a clear sense of how much you can reasonably spend.

With many mortgage types and features now available, as a prospective borrower you should understand your financing options.  Emotion shouldn't trump common sense when it comes to buying vacation property.  Buyers need to do their mortgage homework, and the advice of a mortgage consultant can help them get the most for their vacation home dollar.

Contact an Mortgage Intelligence mortgage professional to learn about how you can open the door to your second home.

There is only one solution when you need a mortgage. That’s “Your Durham Mortgage Solutions Team” at Mortgage Intelligence! Serving Durham Region & GTA. Apply now!