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Updated almost 8 years ago,
Is this considered a second home?
I have recently paid off my home and i am now looking for another home. Since i own my first home free and clear when i go to get a mortgage on my next home would they consider that a second home and change the terms on the loan? I am hoping that because i have paid my first home off i can purchase the next home as a normal/traditional home loan with no increased fees or larger down payment required because.
THanks in advance