Friday, March 23, 2007

Relax, your cottage by the lake isn't just a dream



Relax, your cottage by the lake isn't just a dream


(NC)-As you breathe in that deep breath of fresh air you know you've found that idyllic spot where you've always dreamed of spending your golden years. It's the perfect cedar-shingled cottage right on the lake, where you can relax and enjoy the company of family and friends. Like a growing number of Canadians in their peak income years, a vacation property has always been part of your retirement plan and now that you've found it, only one step remains; financing it.

In the past, financing for a recreational property has been more challenging than for a principal residence, as traditional lending institutions have found second homes to be a less than desirable investment. But as the recreational property market continues to grow across the country Canadians longing for a summer, winter or all-season retreat, are finding they have other options.

"A growing number of Canadians are factoring a vacation property into their retirement planning," says Stan Falkowski, president of Mortgage Intelligence Inc. "While recreational property mortgages are still relatively new to the market, they can provide Canadians with an easy and affordable way to make that cottage, chalet or retreat a reality."

A recreational property mortgage, like the one available through Mortgage Intelligence, can help qualified homebuyers make that beach sunset or ski chalet possible with as little as 15 per cent down. Whether a homebuyer is purchasing a waterfront home, resort-style condominium or timeshare property, this type of product can provide a mortgage on an owner-occupied second property located in a known vacation area. To make qualification even easier this product can also function as a blanket mortgage utilizing a principal residence as additional collateral.

"Vacation properties are more than just a financial investment for most Canadians. They quite often become the spot where families come together," adds Falkowski. "By visiting a Mortgage Intelligence broker Canadians can get the financing they need to realize their vacation property dreams and start a whole new string of family traditions."

More information on how a recreational property mortgage can help Canadians realize their dream of vacation property ownership is available online at www.mortgageintelligence.ca or toll-free at 1-800-268-8815. Credit: www.newscanada.com

More on Vacation Properties in Ontario

For more information please contact A. Mark Argentino Toronto Real Estate Board (TREB) Average Prices and Graph

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

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