• Lake Murray Water Level

    352.36 Feet MSL Sunday, December 16, 2018   7:30:00 AM Level is 7.64 feet below full pool of 360.00 […]

home Lake Info, Real Estate What You Need to Know About Lake Home Financing

What You Need to Know About Lake Home Financing

Real estate is an investment and a lake home, whether it’s your primary residence or vacation home, is no different. Here are some things to keep in mind when financing a lake home:

  1. Down Payment: the more you put down, the more equity you start out with in your home.  A large down payment also helps to lower your mortgage rates.  Expect to pay a large down payment if your lake home is your second home.
  2. Rent Your Property: Rent your property a few months out of the year and use the rental income towards your principal balance.
  3. Home Improvements: The right home improvements can build equity in your home. Believe it or not the small improvements are the ones that bring a greater return on investment.

Read the full article and see sample financial charts here: Read More