All Forum Posts by: Diana Acorn

Hi all, not sure where to post this so posting in "general". 
I am currently a renter in Northern California with no plans to buy in the market where I live. But, I am considering buying a home 300+ miles from me that I can use as a vacation home for myself a few weeks a year and do short term rentals the rest of the year.

Question: Can I get a second home/"vacation home" mortgage (10% down) when I don't have an existing first-home mortgage? 

Thanks for your help!
Diana

Thank you--we are looking into doing a joint account instead.  

HI there everyone,

My brother is "gifting" me $100k for a down payment to purchase a property where we will share ownership. (I'm applying for the loan without him). He wants me to create a will that ensures that if something happens to me while it's held in my account for seasoning, he'll get his money back.  (Full disclosure: I don't currently have a will).  I tried to use the DIY templates found in my legal insurance plan but they only allow you to enter perecentages, not dollar amounts.  Any tips on how to create a document indicating that the $100k goes back to him in the event of my demise?