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Bmoran613
June 15, 2019
Question

Buying a second home

  • June 15, 2019
  • 1 reply
  • 0 views
We are current homeowners in our mid 50s. We are planning to purchase a second home prior to selling our first home. We are in a “pre-retirement “phase of our lives. Is there anything different we should expect during the process of purchasing a second home?

    1 reply

    A
    Anonymous_
    Employee
    June 15, 2019

    Hopefully you will get further input here, but the first thing that came to my mind was the fact that your mortgage rate (assuming you will be financing this purchase) will likely be slightly higher than if the house was owner-occupied (e.g., your primary residence).

     

    See https://www.quickenloans.com/blog/understanding-your-property-classification

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