Financing our second home !!
Hello all,
Me and husband purchased the present home few years back. We have a daughter, and it is our wish to buy a home for her, because she is moving to another city for her studies, also it will be an asset for us. But since we do not have enough savings, will go for a mortgage. We had been looking at the different options for financing our new home. My friend suggested me a blog that she had read on how to purchase a second home, if its for your direct relative like child. Accordingly, we have sufficient income , and strong credit history. But, I wanted to know, what would be the best mortgage option for us. My husband will be retiring in a few years, so before that we would like to pay off this mortgage, and be free from all financial commitments. Please advice me here. Thanks.