Good News for Cape Cod Vacation Home Buyers

We received news on Friday that at least one local Cape Cod lender, Cape Cod Five, is reinstituting 90% loans for second home buyers. (NOTE: Contact Meryl Watson for details: mwatson@capecodfive.com). This was made possible because no title insurance companies would insure more than 80% loans but now at least one company is willing to offer the coverage.

95% Financing is Available for Cape Cod Condos

Unfortunately, Cape Cod condo buyers must still put 20% down on a vacation condo, but there is 95% financing for Cape Cod condos that will be primary residences!

Cape Cod Condo Buyers Stuck on the Sidelines?Seawatch Village Condos

My initial reaction is positive because this will hopefully ease some of the pent-up demand by encouraging condo buying Baby Boomers and others who have been on the Cape Cod vacation home buying sidelines recently to get back into the game. I confess to a twinge of, “Oh no, here we go again,” but overall I am glad to see this happen and think that this will be good for the Cape Cod real estate market and economy in general.

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