Have you been thinking about purchasing a second home? A second home can be a great investment. Here are some questions we often get asked:

• How Much Down Payment Will I Need? Down payments can be as little as 10%.

• What Types of Mortgage Programs Are Available? Most mortgages that are available for your first home are available for a second home. These include 15 or 30 year fixed and most ARMs. FHA mortgages are not available for second homes.

• What Types Of Second Homes Qualify? A home suitable for year round use qualifies for financing with as little as 10% down. Three season cabins can be financed. However they may require more down payment and not all programs will be available.

TIP: Buyers should request well and septic certifications from sellers. Many second homes have old wells and septic systems that can cause problems.  Updating can be expensive.