Buying a second home?

We have tips even seasoned homebuyers will treasure!

Save time, money and frustrations when buying a second home by dealing with the best Realtor and the best Mortgage Lender. Just as you shopped for a bank or a financial advisor, it behooves you to shop for a mortgage lender. Zachery Adam of  Prime Mortgage Lending and Equity Services, Inc.  offers free advice with no strings attached. See the tips below or call Zachery at 828-242-4780.

Tips for when you are buying a second home

Every homebuyer can use the advice of an expert. Below are some tips to consider when you’re buying a second home:

When determining your budget, keep in mind that you’ll have other expenses besides the mortgage payment, including the maintenance, utilities, taxes and insurance.

In addition, if you want to do any work to the property, whether to remodel or landscape, that will incur some upfront costs. Plan your budget accordingly when buying a second home.

If you’re concerned that you have enough money to afford a second home, here are some guidelines to consider.

You should have:

  • Money for a down payment
  • Savings toward your retirement
  • An emergency fund to cover non-vacation expenses
  • Savings for family (such as college or weddings)

In general, servicing all of your debt, including the second home purchase, should consume less than 43-45 percent of your gross income every month. Refer to your debt-to-income ratio if you’re unsure how close you are.

If you’re buying a second home as an investment, research the real estate trends in the area. Look at historical data to discover how the property, neighborhood and municipality values have fluctuated. An investment requires knowing more than just the sale price.

Finally, don’t feel like you have to rush into a decision. Just as you are shopping around for the right property, shop around for other mortgage lenders as well. You’ll find plenty of both. Hold out for the best match.

Find out how Zachery can help you

Since opening in 2005 our mission has always been to deliver mortgage loans at the most competitive rates in the country. Prime Mortgage Lending and Equity Services, Inc., is an independent mortgage lender. Call Zachery at 828-242-4780 or get in touch with him to find out how an independent lender can help you when your buying a second home. There is no obligation, and Zachery loves helping second home buyers.


“Highly Recommend – Zack and his team were wonderful to work with. I highly recommend them to anyone looking to make the mortgage process clear, simple and stress-free. As first time home buyers, we needed more “hand holding” than most and Zack was willing to do that. His office is incredibly responsive and helpful. I would give more than 5 stars if I could.”


“Zack is easy to work with, very thorough and friendly. He has great advice to keep the process smooth and did a lot of work to help me. He even emailed my accountant to get files etc. The process was virtually painless. From the point I applied until we closed was under 30 days and came in under estimated costs. I recommend Zachery Adam every single time I know someone thinking about financing options for a new house!”

Closed purchase loan

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