1 How to buy a cottage?

1 answers

Question asked ( October 27, 2009 , House )

Tags cottage, house, cottage for sale, cottage house, bungalow cottage

I want to buy a cottage in the north, but i already have a house. I wonder if i can borrow a second time. I've put some money aside and i have found the cottage. What do you suggest me to do now?

Answers to : buy a cottage...

Answer

Answered ( 3 semaines, 1 jour ago by Mdallaire65 )

1 2 3 4 5 Average of the votes : 5/5 for 1 Vote(s).

If your first house is entirely paid and don't have enough money for the whole down payment, you can put a new mortgage on your first house. This is a common solution to buy a cottage for sale.

You can however borrow money even if your first house is not entirely paid for. That is if your credit score is good and if you pay off your debts regularly. I suggest you to meet a representative at your bank first to determine what you can afford to buy and what amount of money you can borrow.

Also remember that negociating your interest rate is a good way of saving on the cost of your cottage.