As a Mortgage Broker my first question would be where is your primary residence located. There are some tricky rules to be considered "second home" now a days. I do agree with Michelle and she is correct, the second mortgage market is all but gone.
I would be happy to discuss your options and give you a free analysis if you would like.
Best of luck and I hope to talk to you soon.
Or you can buy it as an investment property with an investment loan and not have the 50 mile limit. That's 20-25% down as well.
Please mention my name if you call Michael. I will be delighted to help you find the home you are looking for.
Bernard Gibbons, Realtor, e-PRO Certified Internet Specialist
J. Rockcliff Realtors, 15 Railroad Avenue, Danville, CA 94526
Phone (925) 997-1585
See all homes fo sale in Contra Costa and Alameda Counties
I would like to start by saying that it is definitely more difficult to get a second mortgage than it was several years ago, but with a low debt to income ration, decent down payment and excellent credit score- it is absolutely possible. We work with many investors and have successfully closed transactions with buyers in your position. It is a great time to buy investment/second homes with interest rates and property values being low. We partner with some great mortgage brokers who have helped in making it possible. My suggestion would be to begin by speaking with a lender to find out your qualifications and if the price range of $600k is realistic. Please fell free to visit our website http://www.JSCArealty.com for contact info on our preferred lenders or contact me and I will be happy to put you in touch with a lender who will really take good care of you and provide you with solid programs. We would love to help you in your search for a second home and hope to hear from you.