Be sure to bookmark this page to see all the latest real estate transactions in Beach Haven.BONUS LINKSAll Properties Currently For SaleMarket Activity and Statistical DataTEXT "LBIPROPERTYREPORT"
The Facts About Second Home Financing On Long Beach Island
Financing Long Beach Island Real Estate
There are many ways to obtain financing for a home on Long Beach Island and LBI real estatesecond home financing is a topic it should be thoroughly understood before beginning a home search. Lenders and banks view loaning money on a second home somewhat differently than a primary real estate market. Generally speaking, second home loans are considered to be slightly more risky for a lending institution. Therefore, it is not uncommon to see stricter qualification standards for buyers applying for a second home mortgage. It is important to understand that loan requirements will vary greatly depending on the individual and the lending institution, however there are some common traits a buyer can expect to see. For example, the minimum down payment for almost every second home mortgage is 20%. There are additional ways to finance a second home in the LBI real estate market, the most common of which is simply paying cash.
Latest Blog Posts
Should rising interest rates concern you if you are thinking of buying of buying a house? That depends on a number of factors. Here are my observations on the matter. Regardless of what your