Second home mortgage.
You know that feeling that you get when a 3 day weekend is coming up. The thought of
the open road, hittin some trails, lakes, rivers, time to relax, chill, and take it
all in. Make memories, up-north Michigan baby, livin the dream.
Hey guys, today we’re comin at you from Gaylord, Michigan. Talking about second home mortgage,
buying vacation homes. Here in Michigan, typically, what we do is
like to go “up-north”, anywhere really, outdoors. Camping, fishing, hiking, boating, four wheelers,
snowmobiling, you name it. Anything outdoors. Second home mortgage.
A lot of folks buy a cabin up-north, or on the great lakes. Today we’re talking with
uncle Joel. His investment that he an Jean made and getting a second home mortgage.
Before we talk with Joel, a few guidelines on buying second homes.
Conventional loan. Has to be occupied by owner at lartially throughout the year. Also needs
to be a 1 unit property, no multi-unit homes. Not really something that you’d buy with the
intent to rent out. This would be something that you’d get as a vacation home.
Also, expect at least 10% down payment. And have good credit. The wohle objective
is to keep things simple. Enjoy life a little bit more getting that
vacation home. Joel will be back from the trails shortly,
and give us some insight as to why they bought. ALright, so, joel made it back frm the trails.
ANf first of all just wanna say thanks for having us. This property is fricken awesome.
SO just a couple questions What made you decide to take that leap and
buy a second home? Number one: Kids are getting older, and they’re
kind of on their own. WHich allowed us a little more freedom.
Jean and I have been talking about it for quite a while.
We come up north a lot. Have a number of friends up here. Seems like
we’re always staying at these people’s house, staying here, staying there, we also look
at it as an investment. And potentially retire out here some day. We’re pretty much 4 season
people. We like the summer, we hunt in the fall. Snowmobile in the winter. Spring, fishing,
Kayaking. Finally got to the point that we said “you
know what, it’s time to do this” What brought you to this area?
Gaylord’s nice. Only about 3 hour drive from the house. Not to terribly far. It’s right
up the main highway. So you run right through it. YOu don’t have to stray out to far. TO
me once you get past west branch, to me kinda feel like you’re “up-north” Gaylord is about
an hour past west branch, It has that real “up-north” feeling. It’s a different kind
of psychy up here. YOu can do everything up her. YOu can hunt, fish, snowmobile, quad,
chill, it’s a great place. They’ve got a nice big town about 10 minutes away. We’re in the
middle of the woods and town is only 10 minutes away. So it’s pretty nice.
Second home mortgage.