Whether you’re looking for a second home to enjoy year-round at your leisure, or a cottage that you want to be able to enjoy with your family and friends throughout the summer months, getting the appropriate financing is essential. You might be surprised at just how easy it can be to get approved for an affordable mortgage for a vacation property, particularly if you deal with a seasoned independent mortgage specialist.
Ontario has some of the most beautiful cottage areas in the country. From Muskoka, to Haliburton, to the Kawarthas, there surely is no shortage of great cottages in this vast and magnificent province. Spending summers or year round in one of the these areas with your loved ones can certainly make memories that will last a lifetime.
Before you set your sights on a specific property you’d like to purchase, it would be very wise to first get in touch with a mortgage broker that can help you get approved for a cottage mortgage Ontario, Canada. It’s important to be able to distinguish the type of property you are looking to buy and how much you can afford to spend before you start shopping around for a mortgage.
In general, cottages fall in one of two categories. Type A cottages are those that are equipped with heating and insulation in order for them to be used all year round, even throughout the cold winter months. Type B cottages are those that are generally only used in warmer summer months and generally do not come equipped with insulation or heating systems. The type of cottage that you purchase will have a large bearing on the type of cottage mortgage you will qualify for.
Get a Cottage Mortgage Faster!
Getting a mortgage for your cottage can be done a lot faster than you think. In fact, you can actually get approved for up to 95% percent of the financing for your vacation property, meaning that your dreams of owning a cottage can be realized a lot faster than you may have initially thought! There are many options for financing your cottage, including using equity in your Toronto area home.
Start making memories with your family and friends and own your dream cottage today! Call Mortgage Medics at (905) 847-6611 where a mortgage professional is standing by! We will shop your cottage mortgage over lenders across Canada to find you the best terms and conditions – all at no cost to you! Learn more at www.mortgagemedics.ca.