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A vacation home or a cottage can be a great investment for the future. Having a second home to spend time in away from work and daily troubles is a great way to spend time with the family and get back to nature’s true beauty. Property in Ontario is always in demand, especially in cottage destination spots like Muskoka or Blue Mountain. Getting a good mortgage rate on cottage property can be a tedious task if you are researching on your own. If you are considering the purchase of a cottage, look to the professionals for help in finding the best rates for your ideal second home. There are experts out there with great connections to banks and lenders who are more than happy to explain your mortgage options.

Many individuals dream of a cottage but never find the right time to purchase. With mortgage rates at a record low, do you really want to wait till your kids are all grown up or retirement is knocking on your door to purchase that cottage you’ve always wanted? The agents at Home Loans Ontario are available to discuss your financial situation and help you get on your way to owning a vacation home.

Cottages are typically divided into two categories. Type A has year round road access and heating. It can be used as a full time residence, seasonal property, or for rural purposes. Type B has only seasonal road access and does not require heating. Mortgage terms are different for each type, so be sure to enlist the services of an expert mortgage agent to find you the right lender and best deals on different properties. You may find that one works to your advantage more than the other.

Home Loans Ontario can evaluate your financial standings during a free consultation. They can assist you in getting a pre-approved cottage mortgage so you can shop within your limits and make an offer with confidence. Agents can help you determine your monthly payments and closing fees with accuracy. The greatest benefit is finding the lowest interest rates and best terms possible. The professionals at Home Loans Ontario specialize in cottage mortgages and are connected to trust companies, banks, private lenders, credit unions and finance companies to help you search for the best rates around.

Demand for cottage property is consistently growing and that means higher prices and higher interest rates. Don’t put off you purchase for a few more years when you finance the property of your dreams for less today. Whether you intend to use a traditional down payment or are looking to use the equity in your current home, an agent can help you set up your mortgage plan.

Owning property is considered one of the safest and most lucrative ways to build equity. With two homes and a low interest rate, you can continue to build equity and security for the future. You can use your summer home to retire into when you are ready to sell your main home. You can also leave the property to your children when they are starting families of their own. Regardless of your decisions, you are making a decision to invest in another asset that you and the whole family can enjoy.

Speak with an agent at Home Loans Ontario today (905) 336-8948) and you can be on your way to owning your very own cottage or vacation home in the location you most desire.  Learn more about Sandbanks Summer Village – a new cottage development in Prince Edward County, Ontario.