Thursday, July 2, 2009

Buying Recreational Property – Philippe Daigle Has the Advice You Need

Summer’s here, and many Canadians are taking a look at the investment and lifestyle benefits of recreational property. Whether your perfect place is a cottage by the lake or a cabin in the mountains, you should be able to obtain financing on a second home with the same terms as financing on your principal residence.

How much you can afford to borrow depends on the size of your down payment, your income, mortgage interest rates, as well as your other financial obligations. A mortgage consultant can obtain a mortgage pre-approval, which will give you a clear sense of how much you can reasonably spend.
With a growing number of mortgage options on the Canadian market, as a prospective borrower you should understand your financing options. Emotion shouldn’t trump common sense when it comes to buying vacation property. Buyers need to do their mortgage homework, and the advice of a mortgage consultant can help them get the most for their vacation home dollar.

Philippe Daigle
250 801 1279

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