Whether your dream is to build a cottage in the woods or purchase a condo on the golf course, Ascentra Credit Union can help with a second mortgage. Going into the venture involves a balance of personal and financial decisions. Here’s what to consider according to More Within Reach Magazine:
Think ahead – Ask yourself some questions. Will you have visitors and if so, will you have the room to accommodate them? Is this a retirement home or an investment? If you’ll be staying at your second home for several months at a time, how will you handle health care and other essentials? One thing you won’t have to worry about is conducting business with Ascentra Credit Union. Our Online Account Access, MyMobile app, and shared branching opportunities can make being miles away from your regular home invisible. As part of the CO-OP Shared Branch network, Ascentra joins forces with over 5,600 other credit union branches nationwide to provide personal service when members are away from home.
Consider more than purchase price and monthly payments – When you’re purchasing a second home, it’s important that you factor in other considerations in addition to purchase price and monthly payment. Maintenance costs can add up quickly. Ask yourself if you want a fixer-upper or if you want something that will take less time and money to maintain. Also take into account other costs such as electricity and transportation costs going between your two homes.