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This Week’s Interest Rates for a Second Home on the Gulf Coast

By Meredith Amon, Licensed in Alabama and Florida

Financing Gulf Coast Second Homes Condos

If you are considering purchasing a second home condo on the Gulf Coast, understanding the latest interest rates is essential. Financing for condos differs from single-family primary residences, with rates and discount points varying based on the loan-to-value ratio (LTV) and other lending factors. Below is a breakdown of this week's financing options.

Current Interest Rates for a Second Home Condo Loan

80% Financing (20% Down Payment)

  • 7.625% interest rate – 2.125% cost to lock
  • 7.75% interest rate – 1.875% cost to lock
  • 7.99% interest rate – 1.00% cost to lock

75% Financing (25% Down Payment)

  • 7.49%…

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