Buying a second home is an incredible accomplishment and a worthwhile investment, and LifeSource Mortgage will help you get it done.
Have you been toying with the idea of purchasing another home or property? If so, now could be a great time to make that investment. Interest rates still continue to be low by historic standards, and many home prices are affordable for the right buyers.
Scouting the Market
One way to start off the search for a second home is to find a real estate agent and mortgage company who are familiar with your desired location and price. These partners could, help you evaluate the location and amenities of a property, the potential rental value, the tax and income implications, and provide information about comparable sales and mortgage rates.
What sort of return should you expect?
The answer to that question really depends on how long you plan on owning the home. While some people like to quickly flip second properties and make some fast cash, others would prefer to enjoy the property and let it appreciate with the market. Either way, there are both risks and rewards to consider before making your decision including tax, income, and liability implications.
Repeat Home Buyer, Loan Programs:
- FHA Loan – Purchase your home with as little as 3.5% down!
- 30-Year Loan – Lock in a low monthly payment and get peace of mind that it won’t change.
- VA Loan – Are you a U.S. Armed Services Veteran? If so, take advantage of a loan that may not require any down payment at all. Plus, enjoy a PMI-free monthly mortgage (no required mortgage insurance!)
- Other Option? – There are many options and programs to consider if you purchase an additional property. LifeSource Mortgage can help you find the program that works best for your specific situation.
LifeSource Mortgage will help you make a major and worthwhile investment. Let us help you with the following:
- Exceptional Personalized Service and Care—As a small, independent, family mortgage company; we care about our clients and our reputation. Serving you is our first priority and we are available almost any day of the week.
- The Best Mortgage Rates—We have the ability to shop interest rates from several lenders and our clients are very satisfied with our rates and responsiveness. Doing so gives our clients the best rate for their mortgage.
- Increased Chance of Approval—Combining the service of our knowledgeable loan officers with our access to several lenders gives us the ability to find the lender who will offer the highest probability for your home loan approval! We work quickly to make sure you get everything you need to get into the home of your dreams.
We help people increase wealth and income across California, let us help you build your assets today.