Financing Your Second Home

It is surprising for many to learn that financing a second home is very similar to a primary residence. In fact, in many cases the interest rate and fees are the same. One bit of advice: look locally for a reputable lender. Local lenders have appraisers and underwriters in place who can make the process flow smoothly. Out-of-town lenders often experience challenges resulting in delays in smaller remote resort communities. FYI: You don't have to own a primary residence to own a second home.  Ask your Coldwell Banker Shaver Lake Real Estate agent for a list of lenders who do business in the area regularly.