Buying A Second Home In Another State at Buying

Buying A Second Home In Another State. Most banks won't fund a loan for the home that a buyer is purchasing until the bank receives documentation confirming the sale of the buyer's existing home. How to close concurrently in another state.

You must live in the house for some. Hazard insurance may be higher in some resort locations, such as beaches. Sometimes people buy another house when they haven't had success selling the first.

Your property will be considered a second home if it meets these conditions: Most banks won't fund a loan for the home that a buyer is purchasing until the bank receives documentation confirming the sale of the buyer's existing home. Types of properties eligible for a conventional loan. For example, the second home needs to be over 50.