Mortgage rates are at an all time low, and are slated to remain low through 2014. This is good news for buyers!
If you are buying a second home, be prepared to put down at least 20%. If you are buying a commercial property, you may be required by your lender to put even more down. We highly recommend conferring with a mortgage professional at the beginning of your search and getting pre-qualified. This benefits you in two ways. First, it will ensure that when you find the perfect property, you are ready to take immediate action and proceed with an offer. You can negotiate with confidence. Second, you will have a pre-approval letter to accompany your offer. This impresses the seller and presents you in the best light as a strong buyer and someone with whom the seller will want to negotiate.
We are very fortunate on Outer Cape Cod to have a number of local lenders and mortgage professionals servicing the financing of property in Truro, Provincetown and Wellfleet. Please contact us for our personal recommendations concerning Cape Cod lenders or Cape Cod mortgage brokers.