First Time Homebuyer?
Buying a home is both exciting and confusing at times. Allow us to assist you while considering various loan types, payment structures, escrow lengths, annual percentage rates, down payments and more. Connect Home Loans has been working with first-time homebuyers for over 15+ years and we understand your needs and concerns. Our team of mortgage loan specialist will introduce you to various loan products, educate you on the pro’s and con’s of each, and assist you with making an informed decision as to what loan best fits your unique situation. Allow us to help you make an informed, educated decision when purchasing your first home.
Vacation / Second Home
A second home is a one-unit property that is located within a reasonable distance from your primary residence. It may be a vacation home that you occupy for a portion of the year or by someone you allow to occupy it. Having a place to stay in the mountains, near the ocean, on the lake, or your favorite resort area offers many potential rewards.
When buying a vacation home or second home, we will help you understand the financial and personal benefits that go along with the purchase, including:
- Rental income and cash flow. If your home is in a popular vacation spot, you may be able to rent it and earn additional income when you’re not using it. This additional income could offset your expenses, and may provide tax benefits in the form of depreciation expense. Restrictions apply and you should consult your tax advisor regarding the deductibility of expense.
- Tax benefits. Mortgage and home equity interest payments and property taxes may offer an opportunity for tax advantages. Consult your tax advisor regarding the deductibility of interest.
- Potential appreciation. A second home may be a good long-term asset to hold as homes can increase in value.
We will gladly assist you in getting prequalified as your first step toward your vacation home financing goal. Fill out the form in the sidebar and one of our team will get right back to you and start this process.
The financial and personal benefits of owning an investment property may include:
- You are in charge of your investment. When you decide to purchase an investment property, you become the decision maker. You get to choose the type of property, the tenants and set your lease/rental rates.
- Potential Appreciation of Property Value. Your property value may increase and as a result it may give you a highly leveraged asset.
- Cash Flow and Rental Income. Investment properties can create cash flow.
- Huge Tax Write-Offs for Investment Property. You are entitled to tax deductions. Speak to your tax or financial professional to determine all of your specific tax benefits.