The Wall Street Journal is talking about a new twist in vacation home financing. Lenders are cracking down on the buyers obtaining financing for their vacation homes requiring them not only to sign an affidavit that they will not rent it out, but they are now occasionally checking sources to make sure it is not being offered on the short term rental market. Interesting fact - according to the National Association of Realtors, 46% of vacation homes were cash purchases last year.
Read the Wall Street Journal article
Vacation Home lending
HEATHER FELDMAN, EQUITY REAL ESTATE LUXURY GROUP PARK CITY 435-731-0803
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