While many lending programs for cabins, bare land, vacation properties, and lake lots require up to a 35% down payment to make purchasing a possibility, Northview Bank and Vacation Property Loans is giving borrowers a lending solution that works with their lives. With good credit, buyers can qualify for vacation property financing that will make purchasing a cabin, cottage, bare land, and lake home possible. Some of our cabin financing options require as little as 10% down.
It can be difficult to save 35% for a downpayment on a cabin, lake home, or plot of bare land for hunting or future cabin construction. Many financing roadblocks like these cause people to enter into less-than-ideal financing arrangements. Contract for Deed can be a good financing arrangement for people in certain scenarios, such as when a bad credit score makes vacation property an impossibility. It is rarely ideal for both parties, however.
Your dream is within reach. In the cabin culture of the Upper Midwest, people often have their eyes set on purchasing a lake home or cottage getaway. For many, this dream seems to be out of reach. That’s why Northview Bank extends our affordable vacation property and cabin financing options to our communities.
Since we underwrite our mortgages in-house at Vacation Property Loans and Northview Bank, we give you a fast turnaround time for our approval. Servicing is also kept local. This means that local money is being spent to build our local community. It means that the work we’re doing across Minnesota is helping our neighbors and friends improve the quality of their lives.
If you have a question, want to know more, or aren’t sure if you qualify for 10% financing on vacation property, talk to one of our local lending experts.
At Vacation Property Loans, we are a community building a community. We believe that vacation property is something that everyone should have access to, and we are working hard to make that possible