Buying a Second Home

There are a growing number of families living in Vancouver or moving to the region who are choosing the option of buying a second home in the lower mainland or in one of the many great locations throughout British Columbia.

Buying a second home

Buying a second home

When it comes to mortgage financing there are many lender programs available at best rates.  Homeowners buying a second home can purchase the second property with as little as 5% down with the following considerations:

1.  Down payment can be from own resources or other sources

2.  Property must be owner occupied during the year or occupied by a family member

3. Property can be new construction

4.  A maximum of 2 homes can be insured by CMHC in Canada

5.  Financing available to permanent residents of Canada

6.  Property must have year round access by car or ferry

7.  Maximum $1,000,000 purchase price

8. No time shares, life leases and rental pool are excluded

For home owners buying a second home with more than 20% down payment insurer guidelines may not apply and lender rules will assigned.  Talk to your mortgage broker for specific requirements to meet your needs.

This trophy lake-view modernist residence and .45 acre property in the heart of Wine Country (Naramata) makes the perfect retreat as a second home or full time residence.