Havertown is temporarily closed for a maintenance issue starting at 4 p.m. on Friday, April 26, 2023.
Please check back for updates on the branch status.
Havertown is temporarily closed for a maintenance issue starting at 4 p.m. on Friday, April 26, 2023.
Please check back for updates on the branch status.
Second Homes
When you’re ready to finance the purchase of a second home, we have options. But first things first: what exactly is a secondary home? It’s a residence that you intend to occupy at least 15 days yearly as a second home (vacation, etc.) while maintaining a primary residence elsewhere (not in the same locality).
Can you rent it out seasonally (i.e. week-to-week)? Yes, although for purchases you would have to qualify for the mortgage based on existing income. Anticipated seasonal income won’t be considered.
For a purchase, how much should you expect to put down? The minimum down payment is 20% of the purchase price or appraised market value (whichever figure is lower, if they differ).