Phone: 
612-990-9009
email:
Steven@StevenHong.com
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Lake Home Financing

Financing a lake home is different than financing a traditional first home. There are many considerations to take into account. Each item of consideration can make a difference in which type of financing you can obtain.

Types of lake home financing

Primary Residence - If you are planning on living in your lake home as your primary residence, you will most likely be able to use a standard conventional mortgage.

Second Home or Vacation Home - A second home mortgage is usually used when the home is not your primary home, and it is for personal use, and it is not too close to your primary home. Distance factors may vary depending on the lender.

Investment Home - If you plan on renting the lake home out, then the best fit is most likely an investment property loan.

Jumbo Loan - Many waterfront and lake home properties are higher value homes that may require the use of a jumbo mortgage.

Steven Hong - RE/MAX Results 
REALTOR, e-PRO, GREEN, Old Home Certified 
7700 France Ave S #230, Edina, MN, 55435 
612-990-9009 (cell) 
952-915-2252 (office)
Licensed in Minnesota. Disclaimer: Each office independently owned and operated. Privacy Policy
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