A lot of our customers contact us with questions about owning a second home. The good news is that transactions for second homes are treated almost identically to transactions for primary residences.

The one big difference is that a lot of lenders will look closely at the distance between your primary and secondary residence.

“Lenders will pay a lot of attention to the distance between your potential second property and your primary residence.”

Something like a vacation home, located far away from where you currently reside, will make sense. However, a secondary residence in the same, or near the same, neighborhood as your first home isn’t going to pass a sniff test.

So, talk with your lender ahead of time to develop a roadmap for making a successful offer on your second home.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.