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Vacation and Second Home Mortgages

Vacation Second Home by the Lake - Darren Robinson in Barrie, ON

Enjoy your holiday home!

Get the best rates on your vacation property.
Talk to me today.

Darren has been a real facilitator of the mortgage pre-approval process as well as being attentive and very responsive throughout the process. Darren is able to answer all your mortgage needs in a very professional and personalized manner; I highly recommend Darren and I believe that you won’t be disappointed.

Mathieu C.
Mortgage Client, Toronto, ON

How Can I Afford to Purchase a Slice of Paradise for My Family? 

If you dream of owning your own vacation home, my mortgage broker services can help you realize your dream and increase your wealth for the future.

After all, a vacation home isn’t just a place for you to escape to over the weekends; it is a true long-term investment that gives you many of the same benefits as when purchasing an investment property.

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Why Invest in a Second Home?

Canadians are investing in second homes and there are many excellent reasons to do so, both in terms of lifestyle and finances. A second home can improve your financial position and make life easier, and in this fast-paced and dynamic world, the latter is becoming even more important. You might need a second home closer to your place of work or you might want to save money on leisure and recreation by investing in a cottage. No matter the reason, taking out a new mortgage is the first step you need to consider.

Second Homes and Vacation Property

Second homes are classified as ‘Type A’ properties, while seasonal vacation properties are classified as ‘Type B’. Use of cottages is different from the use of second homes, which is why there are two different types and why there are different mortgages available for each type.

For both types of mortgages, many of the same factors apply, like length of amortization and downpayment. On the other hand, vacation property mortgages include some unique considerations.

Vacation properties are now available with small down payments (5%), and conventional mortgages are available if you can supply a down payment of 20%. For smaller down payments, you must secure your loan with an insurance corporation such as the Canada Mortgage and Housing Corporation (CMHC).

How Mortgage Brokers Can Help You

No matter your reason for investing in a second home or cottage, I can, as an expert mortgage broker, help you understand every single option available and assess your position so you know which options are best. I am fully independent with access to a wide range of different mortgages suitable for people of all financial backgrounds.

I can simplify the process, negotiate the lowest mortgage rates, and secure your second home with a mortgage that offers you the best rates and terms for your needs and goals.

Award-Winning Mortgage Service…

Darren has consistently won awards for outstanding service!

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