Thinking about investing in property? Whether you’re eyeing an investment opportunity or a relaxing vacation home, Fiesta Home Loans has your back. Our personalized services ensure you get tailored solutions to meet your needs.
Understanding the Terminology:
- Primary Residence: Your main home where you spend the majority of your time.
- Vacation or Second Home: A secondary property used for leisure or occasional stays.
- Investment Property: Real estate purchased with the goal of generating income.
Planning for Your Investment
Differences in Financing
- Lenders approach investment and vacation homes differently due to higher risk levels.
- Down payments for non-primary properties are typically higher, and interest rates may be elevated.
- Conventional mortgages are common for these properties, requiring down payments of 20-30%.
Available Mortgage Programs
- 30-Year Loan: Offers competitive rates and extended repayment periods.
- 15-Year Loan: Provides security with quicker ownership and lower interest rates.
- Other Loan Periods: Options range from 10 to 25 years, allowing flexibility based on your goals.
Make Your Move
- Investing in real estate can yield significant returns, and we’re here to help you secure financing.
- Get pre-qualified with Fiesta Home Loans today to enhance your buying power and seize your investment opportunity.
Contact Fiesta Home Loans to schedule an appointment today.
