Find out the difference between a moment domestic and money spent, to see the way it make a difference to the type of mortgage you can purchase.

People often use the terminology “investment property” and you may “second household” interchangeably to describe real property this is simply not their top household. But these form of attributes will vary.

An investment property are a house you get to make money, desire to lease so you’re able to clients otherwise flip and sell having a money. Although not, a moment residence is a single-relatives house you plan to reside in for most out of the entire year or see on a regular basis. Continue reading →