Because of this higher demand, sellers can be more selective. It is a good idea to be pre-approved for your financing before you start making offers on water property. Being pre-approved can give you an edge if you are competing with other offers. If you are pre-approved the seller will know you are serious and able to complete your offer. Pre-qualified just means that according to what you disclosed, you should be able to make the payments on a mortgage of a certain size.
Sellers like to deal with pre-approved buyers if possible.
Use our FREE Mortgage Calculator. This is a list of lenders that are interested in financing water properties. The First State Bank of Finlayson is a leading vacation property lender for the state of Minnesota. E-mail or phone. All rights reserved.