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Owning a second home or cottage is a desire shared by many individuals seeking a retreat from the demands of everyday life. Whether it’s a peaceful cottage nestled in the woods or a beachfront getaway, having a second home provides an opportunity to create lasting memories and enjoy quality time with loved ones. We understand the allure of owning a second home and are dedicated to helping you find the perfect property. Our team of experts will guide you through the process, offering personalized advice and support every step of the way.
When it comes to financing your dream cottage or vacation home, several factors come into play, starting with your personal borrowing power, including credit, income, and existing debts and obligations. Additionally, the type of property you are looking to finance plays a significant role.
Cottage properties can be categorized into three types:
Type A: Offers amenities and services similar to a traditional residence, including a foundation, plumbing, year-round access, and winterization.
Type B: Characterized by seasonal road use, non-winterization, and non-drinkable water.
Type C: Often comprising bare land or small cabins/bunkies. It’s important to note that the quality of the property can affect the availability of affordable financing options.