Hi thanks for your video. Helpful info for sure. Was wondering if you have any recommendations in the Arizona market particularly in northern Arizona. Thanks!
Excellent, concise video, Matt. This answered all but one of my topics of questions: How soon can someone typically move into a vacation home? If I rent west coast and because of west coast income qualify to buy a vacation home east coast, at what point is it usually permissible to the lender or whoever to move over there? Is it at a certain level of equity? Never?
@@MattTheMortgageGuy So in spite of all of the requirements they throw at you for income, verifying your income and employment etc., after you’ve got keys in hand they’re not concerned about any of that as long as they keep receiving payments?
I want a vacation home my first home I rent and the vacation home will be my first purchase . I’ll smash like button after I get a reply from you . It will be my second home but first purchase . I won’t buy in San Diego . To much
Great info Matt! I’m considering buying a second home in Tahoe later in 2021 and I’ll keep you in mind when I’m ready to purchase. Just for clarification, will listing my property on AirBnB turn my vacation home into a rental/investment property for tax purposes?
My default answer in regards to taxes is always consult a CPA.... BUT I can tell you that I'm fairly certain you'll show rental income as well as expenses on the property as a 2nd home or an investment property. Good question and I'm going to ask my CPA Tuesday as I have many rentals but no 2nd home yet.
Any advice for retirees who own a home free and clear, credit score 785, with millions in retirement funds, but choose to have very low annual income because no major expenses. We do not qualify for traditional mortgage because annual income is so low.
Do I have to own my primary residence in order to qualify for a vacation home loan? Am I able to rent my primary residence and then buy a vacation home with this type of loan?
Hi, can you use rental income on the second home to qualify for a 3rd home loan, such as investment home
Hi thanks for your video. Helpful info for sure. Was wondering if you have any recommendations in the Arizona market particularly in northern Arizona. Thanks!
I’m not an AZ expert but my Arizona branch certainly is. Connect with my team who will connect you here: greatmortgagebroker.com
Can you use gift funds for the 10% down?
Good 👍
They’ve got more expensive since I posted this (price and rate), but the info still applicable
Excellent, concise video, Matt. This answered all but one of my topics of questions: How soon can someone typically move into a vacation home? If I rent west coast and because of west coast income qualify to buy a vacation home east coast, at what point is it usually permissible to the lender or whoever to move over there? Is it at a certain level of equity? Never?
A lender wouldn’t care if you moved in. 🤙🏼
@@MattTheMortgageGuy So in spite of all of the requirements they throw at you for income, verifying your income and employment etc., after you’ve got keys in hand they’re not concerned about any of that as long as they keep receiving payments?
I want a vacation home my first home I rent and the vacation home will be my first purchase . I’ll smash like button after I get a reply from you . It will be my second home but first purchase . I won’t buy in San Diego . To much
GO ahead and SMASH the like. San Diego is expensive, maybe BIg Bear?
Can you buy a duplex as a second home? Thank you
who do u recommend on the east coast for a investment property in DR
Http://greatmortgagebroker.com
Great info Matt! I’m considering buying a second home in Tahoe later in 2021 and I’ll keep you in mind when I’m ready to purchase. Just for clarification, will listing my property on AirBnB turn my vacation home into a rental/investment property for tax purposes?
My default answer in regards to taxes is always consult a CPA.... BUT I can tell you that I'm fairly certain you'll show rental income as well as expenses on the property as a 2nd home or an investment property. Good question and I'm going to ask my CPA Tuesday as I have many rentals but no 2nd home yet.
I want to do cash out refi to buy a second home.
Happy to help, get started here: greatmortgagebroker.com
Any advice for retirees who own a home free and clear, credit score 785, with millions in retirement funds, but choose to have very low annual income because no major expenses. We do not qualify for traditional mortgage because annual income is so low.
Do I have to own my primary residence in order to qualify for a vacation home loan? Am I able to rent my primary residence and then buy a vacation home with this type of loan?