We're looking into potentially purchasing a lake house in the coming months, and looking for any advice the all-knowing posters of TexAgs may have in this regard.
I know I can expect interest rates to be higher for a second home - does anyone have a good handle on what those rates are hovering around these days for a couple with great credit? I'm assuming 7% (hoping that lowers in the coming months)?
Anything else we should think about in the purchase of a second home? Obviously understand we won't be claiming a homestead so will be more exposed to property tax increases.
I know I can expect interest rates to be higher for a second home - does anyone have a good handle on what those rates are hovering around these days for a couple with great credit? I'm assuming 7% (hoping that lowers in the coming months)?
Anything else we should think about in the purchase of a second home? Obviously understand we won't be claiming a homestead so will be more exposed to property tax increases.