Thank you to everyone that attended the Open House at the Red Barn July 6, 2023! See the Recap, here.
A big shout out to our guest presenters, who took time out of their busy schedules to share their knowledge and experience with the community:
Missed the Open House?
- Q: Can I finance a secondary dwelling on my property? A: Yes. Mortgage financing is available, however, we need to determine if there is an existing mortgage and how much equity in the property exists.
- Q: Can the income I generate from a secondary dwelling be used to qualify for a mortgage? A: Yes, if there is a long-term rental agreement in place or fair market rent assessment complete. Unfortunately, short term rental arrangements do not qualify.
- Q: Can I use equity in my home in lieu of a down payment? A. Yes.