Buying a Second Home
You’ve been there before so you know the ropes. Use that experience to save you money or gain that second home.
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If you have built up equity in your current home and are considering becoming a second home buyer, you have plenty of loan options to make a smooth transition. With Karista Mortgage’s mortgage strategies in place, becoming a second home buyer is easier than you think.
The Right Home Loan
This is where your experience in previously purchasing a home will come in handy. If you have been paying your present mortgage for a few years or more, you will have noticed variable interest rates fluctuate over time, plus the opportunities that both variable and fixed interest rates provide. The temptation to change from fixed to variable interest rates, or vice versa, will arise. Here are just a few factors worth considering when looking to buy your second home:
- What is your purpose for making a new property purchase?
- Are your budget and cash flow sufficient to cover all costs?
- Is it going to be an investment property?
- What is your preferred loan type and loan structure?
- How will your equity be used?
Find The Home You Love And We’ll Do The Rest
Your Karista Mortgage expert will outline all your options. We have the same purchasing power as Canada’s biggest banks, allowing you to choose a fixed rate, variable rate or another loan option.
If you have found your perfect second home and are ready to snap it up, but are waiting to sell your current home, a bridge loan is an ideal solution. Bridge loans are interest-only loans, backed by the financial collateral of both your current and future home. It’s worth understanding that you will be paying the interest portion of the two loans until your current home sells, so budgeting will be important.
Why Choose Karista Mortgage?
One of Canada's most awarded Mortgage Brokers
Reliable & Highly Experienced
Helping Canadians achieve homeownership since 2003 with over 47 years of combined mortgage experience.
Dependable & Committed
We are committed to make a positive lasting difference from your first home purchase to your 2nd, 3rd and 4th houses, and more.
You’re Our Priority
Your best interest always comes first. We work for you and not the lenders.