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Can I take out a mortgage loan for a vacation rental if I'm paying back a home mortgage loan?

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Can I take out a mortgage loan for a vacation rental if I'm already having a mortgage loan for my house? If yes, do I have to pay a higher rate of interest?




Yes, you can take out a second mortgage for a vacation rental. It usually carries a higher interest than the first mortgage.

Sub: #1 posted on Fri, 04/13/2018 - 01:16

SC SC
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Yes, taking a mortgage is beneficial because the mortgage interest is tax deductible.

Sub: #2 posted on Fri, 04/13/2018 - 06:00

sanderspatricia29 sanderspatricia29

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Yes, you can take out such a mortgage loan. Do market research so that you can take out the loan at the best suitable terms and conditions.

Sub: #3 posted on Fri, 04/13/2018 - 06:14

Good Nelly Good Nelly
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Definitely yes....the interest rate on the mortgage for vacation home will be much higher than the first conventional one.

Sub: #4 posted on Mon, 04/16/2018 - 04:21

Barbara Delinsky Barbara Delinsky

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