Lower down payments could boost sales of Highlands vacation homes. Lending practices seem to always be changing these days, much of which means that standards are loosening to make borrowing money more attractive for potential home buyers. This does not mean we are returning to practices that got us into a mess, rather enabling qualified borrowers to borrow with perhaps less hassle. The news on the street is that borrowers can now get into home loans for less than 20% down.
Buyers looking at vacation homes in Highlands NC who can put 15% down will be able to keep more cash in their pockets, a desirable goal for many. This could potentially attract more buyers into the second home market, which could be great news for Highlands real estate.
Contact me, Lynn Kimball, today to learn more about current trends in real estate. I welcome the opportunity to get you up to speed on the Highlands real estate market. Whether you are looking to buy or sell my experience and knowledge can work to your advantage.
Click here to read “For down payments, 15% is the new 20%” from Market Watch.