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Second Homes vs Seasonal homes

Second Homes:

A second home is a property located within a reasonable distance form the borrower's principal residence and which the borrower occupies for some portion of the year. The property must be suitable for year round occupancy. The property may be rented under some circumstances, but no rental income from the property may be used to qualify the borrower.

Seasonal Homes:

A seasonal home, often referred to as a camp, is a property generally not suitable for year round occupancy. The borrower must occupy the property for some portion of the year. The property may be rented for some portion of the year. Verifiable rental income from the property may be used to qualify the borrower.

Please contact a mortgage originator for details on any of our second home and seasonal home mortgage options.