North America’s vacation property resource
North America’s vacation property resource
Second home finances can mean a number of things. From second home mortgages and lending criteria to the cost of owning and maintaining a second home, there are many topics to cover. For instance, what are typical lending criteria for second home mortgages? What are the down payment requirements for a second home? What are typical interest rates for second home mortgages? How much can I afford in a second home? What is a good debt to income ratio when applying for a second home mortgage? What are the true costs of owning a second home? These are just some of the many questions that you may have on the topic of second home finances.
Discover articles covering various topics related to second home finances, including general guidelines, frequently asked questions, industry data, “best of” lists and more. In particular, topics include: Buying a Retirement Home Early: Your Chance to Own a Vacation Home, Down Payment for Vacation Home: Requirements for Buyers in the United States and Canada, Vacation Home Costs: True Cost of Owning a Second Home and others. We continually add more materials so ensure you check back often.
Be sure to also check out our second home mortgage calculator to discover your monthly second home mortgage payment based on the maximum amount you can afford. You may also find our other calculators helpful as you consider second home finances, including our cost of owning a vacation home calculator.
We hope you enjoy reading and welcome your feedback.
Last updated: August 18, 2022. As you approach retirement, you may be considering buying a retirement home early. Whether its downsizing to more modest accommodations or moving to a sunny destination, there are many reasons for buying a retirement home. Many people, however, won’t give much consideration to retirement living until their twilight years. Naturally,…
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Whether you have managed to save up a significant down payment or you are just starting to save, you may be wondering what the typical down payment for a vacation home is. After all, it can take substantial time and fiscal discipline to save up enough to purchase a second home. In this article, we…
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Last updated on August 16, 2021 If you’re asking yourself: can I afford a vacation home and, if so, how much vacation home can I afford?, you should consider the following: Size of your down payment Your debt to income ratio Rental income Equity from primary residence Be sure to explore our Can I Afford…
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Last updated on August 16, 2021 As more and more people look to expand their real estate portfolio, the recreational housing market continues to see strong demand in the United States and Canada. For some, a second home may represent a welcome escape from the busy city life. For others, a second home may represent…
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Vacation Home Costs (Summary) If you are interested in buying a vacation home then understanding the true cost of owning a second home is a must. In this article we explore the typical types of vacation home costs in the interest of ensuring that buyers of vacation homes better understand the true cost of ownership….
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We’re excited to announce the launch of Vacation Property Online’s interactive map showing how much vacation homes cost across Canada. The interactive map shows what $500,000, $750,000, $1 Million and $1 Million+ buys in Canada’s top vacation and recreational real estate markets. We’ve combed through the data to provide you with a snapshot of what…
Read MoreOwning a home is a keystone of wealth… both financial affluence and emotional security.