The purchase of a second property may be driven by multiple reasons some of which could include a long planned family vacation house or maybe you have bought this to increase your financial stability further by using buy-to-let and make maximum gains for your family, whatever the rationale behind your decision affordability is the first thing to consider while setting on the journey of buying a new property.
The plausibility of you having enough savings to completely finance the purchase of a new property are very unlikely so you would need some sort of assistance which may come from a mortgage on the property you are about to buy or the one you already own; Nevertheless, what kind of mortgage you would qualify for would solely depend on the purpose of the purchase. Moreover, it must be understood that in order to buy a second home you will need a second residential mortgage on that property but if you are conducting this purchase as an investment then the procedure would be different.
Set guidelines and a streamlined underwriting process make closings happen swiftly. As fast as 48 hours
Correspondent lending gives us the ability to bring wholesale rates to the consumer
Start with some basic info about your assets, credit profile, income. As a result – amount to borrow and the rate
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