As we claimed during the Summer, tightened government financing requirements make it harder and more costly to get mortgages getting financial support properties and you can second land. During the time, Lender regarding Utah composed an alternate portfolio mortgage – brand new Financing loan – to store users from experiencing highest costs and you can charge when credit to have financial support features (attributes that aren’t filled from the holder and are usually bought to make money).

We are thrilled to announce you to definitely, towards July six, i and additional one minute Home loan to own consumers trying a great financial to have the second home (a property, generally a secondary home, that isn’t lived-in full-time however, isn’t used for leasing money intentions). Continue reading →