Sun, sand, boating, fishing. If you see yourself relaxing or retiring at a lake in Minnesota and want to make that dream a reality, contact your American Federal Banker to learn more.
What should I consider when purchasing a lake property in Minnesota?
- On a second residence, homeowners who need financing use a conventional mortgage for purchasing lake property.
- A conventional home loan may only require a 10% down payment.
- Homeowners often tap into the equity of their first home to secure financing for lake property.