• Lake Murray Water Level

    WATER LEVEL 354.27 Feet MSL Wednesday, February 8, 2023   12:30:00 AMLevel is 5.73 feetbelow full pool of 360.00 source: http://murray.uslakes.info/Level/

home Lake Info, Real Estate, Top News 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