Your Guide To Buying A Vacation Home at the Lake
First of all, congratulations on choosing to buy a vacation home at the Lake of the Ozarks ! Prepare to make MANY fun memories on this gorgeous lake. If this is your first time buying a second home, don't fear the unknown. Our mortgage lenders at the Lake of the Ozarks are here to help you every step of the way. On that note, keep reading this week's blog for a few helpful pieces of information when it comes to buying a second home. Need help with this important process? Call MHQ-Mortgage Headquarters today. We can be reached at (573) 302-9990. Photo Credit: Fun Lake MO Your Guide To Buying A Vacation Home at the Lake CONSIDER AN EQUITY LINE OF CREDIT! A home equity line of credit (HELOC) is an open line of credit tied to an equity-based maximum loan amount. You may use the account for a set period of time (5, 10 or even 20 years) as long as there are funds. Once your predetermined time period is up, you will be required to pay off the loan, making monthly payments on the pri...