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Buying a second home – mortgage options to look into. – A second mortgage is a very common way to use your home equity, enabling you to purchase a second home more quickly. The main thing is that you must have the funds and cash flow to comfortably make both mortgage payments.
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Buying a Second Home-Tax Tips for Homeowners – TurboTax – Intuit – Buying a second home? TurboTax shows you how mortgage interest, property taxes, rental income, and expenses will affect your tax return.
Second Mortgages: What to Consider When Buying a Second Home – First things first: Consider whether you have the down payment you need and if you can afford to take on a second home mortgage. Do you have a stable income and a cash reserve? Keep in mind the additional expenses of owning a second home such as property taxes, insurance, maintenance, repairs, furnishings and property-management fees.
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