Thursday, October 12, 2006

Financing article

Interesting link to an article on financing your fractional vacation home purchase:

http://www.helpyourmoney.com/198/financing-your-fractional-ownership

I have spoken with some of the boutique finance companies mentioned (and others that were not mentioned). They say the buyer should expect rates about 1.50% higher than "traditional" mortgages. They offer many ARM options including interest-only, but no fixed products as the market has not matured (yet). All use 30 year amortizations, however.

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