Secondary and vacation home
If you own a house and wants to buy a second and vacation home with less than 20% down, there is a program available for it.
More information on secondary and vacation home
If the price of a house is up to $500,000, then a buyer could buy a secondary and vacation home with 5% down. An additional 10% down payment is required for the price above $500,000 up to $1,000,000.
The home must be occupied by an owner or by an immediate member of the family such as legal dependent, legal guardian, father, mother, child, brother, sister, and grandparent.
For example: If your elderly parents want to live in a separate home, then you can buy a second home for your parents under this program.
If you want to know more about this program, then call us to discuss your options.