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Buy a Vacation Home

Four things to know before you buy a vacation home

When you're ready to move past settling down to finally getting away.
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A lot to appreciate

Everyone's idea of the perfect vacation home is different. Whatever yours may be, it helps to research the growth opportunities in the area before buying a second home. Property values in desirable locations can appreciate over time, so that beach house you're looking at could be a valuable long-term asset.

Go with the cash flow

Your vacation home can be a great source of rental income, especially in high-volume vacation spots. Use that income to help pay the mortgage on your little piece of paradise.

Take advantage of your interest

After you've owned your vacation home for a while, you may be able to take advantage of potential tax benefits — mortgage and home equity interest payments may be deductible. Talk to a tax advisor for details.

Home and away

Not ready for a permanent vacation? If you're getting the itch, and you have enough equity in your current home, you may want to try financing a vacation home using your current home's equity. See if you're ready to take on a second home mortgage by learning more about our home equity lines of credit.

 Did you know? 

With yourLoanTrackerSM, you can track your loan's progress from any computer, smartphone, or tablet. Ask your home mortgage consultant if it's available for your loan. Learn more