Expect a higher interest rate than on a 30 year fixed traditional mortgage loan for a primary residence. Lenders know that you are a homeowner and will be adding to your debt burden. Thus, the lender views you as a riskier loan, the risk factor will cost you a interest rate percentage point or two.
Own Real Estate In Sunriver or Rent… Part 2
For most people, owning their home is a key element of attaining the American Dream. And there is nothing quite like buying your first home and realizing it is all yours (provided of course that you continue to make your mortgage payments on time). Homeowners also tend to view their purchase an investment and have incentive to keep their property in good repair...