Mark’s all about resting beach face.
Sun, surf, sleep. However you love to vacay, it doesn’t have to end when the trip is over. With a well thought out financial plan and the right mortgage strategy, your dream vacation home can be within reach. Your second home can be exclusively for you and your family or you can rent it out, short or long term. Either way, it’s an investment opportunity worth dipping your flip-flops into. Best of all, Mark can lend in over 30 states!
The Living is Easy…
But the financing does take planning. There are some important loan considerations for second homes:
- higher down payment requirements (20–25%) for second homes due to pricing adjusters.
- loans cannot be secured using projected Airbnb income due to its unpredictable nature. Long-term rental income must be used for qualification.
- DSCR loans may be a good alternative (also known as debt service coverage ratio).
Mark can walk you through the details so you can make a solid investment with minimal stress. The right loan means you can have your vacation home and enjoy it, too.
Lenders gone wild!
The Mark Smith Team aren’t all “credit check this” and “refinance that.” They love to let their hair down, too (sorry, Mark. It’s just an expression). Mark’s vacation plans involve board shorts and a pier in Port A or on the 30A in Florida. Liz sees herself on the slopes in Colorado (saying things like “I meant to do that.”). Erin is on the lookout for Bigfoot around her home in the Washington woods. Tiffany is away from it all somewhere in the Carolinas; we haven’t seen her in a while…
Wherever your dream home is in the USA, Mark can probably lend there—and even if he can’t, he can at least give you great lending advice.
Quick survey, big reward!
We’d love to hear about your home buying plans! Take 5 minutes to share your thoughts, and you’ll be entered to win a $100 gift card.
Ready to start packing? Dream a little with Mark.
If you’re not ready to chat in person, feel free to check out my Instagram, crunch some numbers, or learn more about mortgage basics.