Vacation Home And Second Home Mortgage
Considering a second home? Let us help with the mortgage
Whether you’re looking to buy a vacation home or a second home for investment purposes, Anava Financing is here to help you with every step of the process.
Navigating the strict requirements and regulations for financing a second home can seem daunting, so finding the right second mortgage can help make the experience simple and hassle-free. Given these complex classifications, the experts at Anava can assess your situation and provide an affordable solution based on your requirements. You can leave it to us to get the mortgage done, based on your down payment, the type of property, year-round use and accessibility.
Your dream home is now within your reach
Let us help you buy the home you’ve always wanted. Our expert brokers will be in touch and guide you through the entire process.
Let’s simplify the process!
Financing your vacation home or your secondary home is almost as easy as your first mortgage. Here are few things to keep in mind
Second properties have two categories- Second Home and Recreational/Vacation Properties
Second Homes
FOR A SINGLE-FAMILY, WITH AMENITIES AND SPECIFICATIONS FOR A PRIMARY HOME
YEAR-ROUND ACCESS AND SUITABILITY FOR YEAR-ROUND USE IS A MUST
THE HOMEOWNER MUST RESIDE FOR A PART OF THE YEAR, OR A FAMILY MEMBER MUST OCCUPY WITHOUT RENT
HIGH RATIO FINANCING, AS WELL AS CONVENTIONAL MORTGAGES, ARE AVAILABLE
Recreational & Vacation Properties
PROPERTIES THAT DO NOT HAVE YEAR-ROUND ACCESS
USED AND ACCESSED ONLY DURING SOME PORTION OF THE YEAR
USED ONLY FOR RECREATIONAL PURPOSES
Another pointer to keep in mind is Mortgage Insurance. As you decide to purchase a second home or a vacation property, you must keep in mind that the government’s mortgage insurer, the Canada Mortgage and Housing Corporation (CMHC), does not provide insurance for second/vacation homes. However, there are private lenders available who do so.
No matter which type of property you choose, Anava can help you get the best deal on interest rates from the best lenders that cater to your needs.