“More Preapprovals for Second Homes”

In the last 30 days I have done 4 preapprovals for second homes. In each case these families rent homes or cottages for 2 to 4 weeks. In each case they will utilize the properties on a part time basis and rent the properties to others for certain weeks to offset their expense of ownership.

I have found that finding a second home for many takes longer than their primary residence. I recently closed on a second home the folks had looked for two  and a half years.