Posted on August 29, 2014 by - Buying a Home, Mortgage Tips

Michigan vacation home mortgage loanHistorically real estate has been one of the best investments you can put your money in with year over year positive appreciation and tax advantages.  You may already have a place you call home but adding on an investment property may make financial sense.  At Riverbank Finance, we offer second home loans and a vacation home mortgage with low down payments.

Benefits of a Vacation Home Mortgage

  • Low Down Payments
  • Low interest rates
  • Own appreciating real estate
  • Enjoy tax advantages
  • Save Money on expensive Vacation Trips

Why Michigan is Hot Spot for Buying a Vacation Home

If you are a resident of Michigan or if you have traveled to Michigan you are aware of the unique beauty it has to offer. Michigan has been touting its beauty nationally through its Pure Michigan marketing campaigns. Vacation towns such as Traverse City, Saugatuck and Mackinaw Island have been displayed in TV commercials narrated by Michigan’s own Tim Allen. With its white sand beaches and beautiful Great Lakes, vacationers have traveled across the country to vacation here.

If you already own a home in a Michigan city such as Grand Rapids, Lansing or Detroit, taking a short trip to the lake short to visit your own vacation is a perfect weekend get-away. Ask a Riverbank Finance loan officer how you can buy a vacation home with a low down payment mortgage and a low fixed rate.

How to get a Vacation Home Mortgage in Michigan

If you have been considering buying a vacation home in Michigan the process may be easier than you think.  Even if you already have a primary residence you may be eligible for a second home mortgage loan through Riverbank Finance. We offer some of the lowest rates and down payment options in the industry.

Second Home Mortgage Loan Requirements:

  • 10% minimum down payment
  • 620+ Credit Score
  • 45% or less Debt-to-Income Ratio
  • No Recent Bankruptcies or Foreclosures
  • Verifiable Income

To get more information on Michigan Vacation home loans, call a loan officer today at 800-555-2098 or request information below.

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