Investment Properties and Vacation Homes
Once you have your own home, you may be considering purchasing a second property for investment or for enjoyment purposes:
If you are looking to expand your investment portfolio, owning a rental property maybe your next step! In purchasing a rental property, you will need a 20% down payment, which can come from your savings, other investments you may have, or even the equity in your current home. Its important to look over your full financial picture when considering an investment property as you will need to qualify to own both your current home and the new property. As only 50% of the rent of an investment property can typically be used to qualify, there may be some cool solutions that work for you!
Sometimes, you just want to get away from it all. Whether its close by your primary home, or you need to travel a bit to get there, buying a
vacation home is becoming more sought after. If you are planning to use the property purely for your own use and enjoyment, you can purchase a second home with as little as 5% down (depending on the property itself).