Sun, sand, boating, fishing. If you see yourself relaxing or retiring at the lake and want to make that dream a reality, contact your American Federal Banker to learn more.
What should I consider when purchasing a lake place?
- 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.
- Consult your American Federal Banker to learn more.
This information offers general advice and is not intended to be legal or tax advice. Consult your attorney, tax accountant or other professional.