Financing DeBordieu Vacation Homes

While many second home buyers at DeBordieu use cash when purchasing their vacation home in this gated ocean front residential community just north of Charleston South Carolina, most use financing for some or all of their purchase.

DeBordieu Colony real estate New Construction
2671 Luvan Blvd. NEW Construction, great view, $1,200,000
DeBordieu Colony real estate, Pawleys Island SC
184 Summerwood comes with a BOAT HOUSE









There was a good article recently in the Wall Street Journal about Financing Vacation Homes, written by Anya Martin. A few good excerpts and a link to the entire article is below.

DeBordieu Colony real estate, Pawleys Island SC
91 Blue Heron – Gorgeous Low Country home with 4 Bedrooms, 4.5 baths, and great porches and ground floor rec/media space! $695,000

According to Leigh Reid Hope of Fisher / First Trust Mortgage, “now is the time to capture the lowest rates in history on financing second homes. A lot of people do not realize that rates and underwriting for a second home are the same as for primary residences. With rates so low borrowers are being able to qualify and afford that wonderful beach front home that they have been dreaming about.”

1318 DeBordieu Blvd.
1318 DeBordieu Blvd.

Fisher/ First Trust Mortgage is located in Charlotte NC, where many DeBordieu buyers come from, and right here in Pawley Island. They offer loans for second homes up to $3,000,000, and offer over twenty different investors so your rate and service will always be the best. The loan officers at the Charlotte, NC office located at 700 East Blvd are very familiar with DeBordieu, Pawleys Island and Litchfield, and are always very helpful. Here’s their website: Fisher/FirstTrustMortgage.

The pictures on this page are of DeBordieu properties that would make perfect second homes. Click on the picture for more information about the property.

209 Calais, short golf cart ride to beach, $499,000
209 Calais, short golf cart ride to beach, $499,000

Excerpts from the WSJ article: 

“In the U.S., vacation-home sales jumped over 50% in 2014, up from 717,000 homes in 2013, according to preliminary data from the National Association of Realtors (NAR), a trade group. And second-home sales are expected to continue climbing in 2015, says Lawrence Yun, NAR’s chief economist. “The stock market is booming, which means the wealthy top 10% in the country are feeling better off financially and are opening up their wallets for discretionary purchases,” he says.”

DeBordieu Colony real estate Short Sale Pawleys Island SC
45 Dene Ct. Near Beach, $990,000 (Potential Short Sale)

“Another driver pushing second-home sales is that the leading edge of baby boomers is approaching retirement age, Mr. Yun says. Many are expected to buy second homes with the intent to move there upon retirement, he adds.”

“Even a year ago, many lenders were requiring at least a 30% down payment for a second-home jumbo mortgage. Now, many have reduced the down-payment requirement to 20% to attract new borrowers. And in some cases, interest rates for a second-home are the same as for a primary home on loans up to $1.5 million with Quicken and $2 million with Bank of America, for example.”

“However, credit-score requirements may be higher when financing a second home. Milford, Conn.-based Total Mortgage Services wants at least a 740 score for a second-home jumbo with a 20% down payment, but will drop to 720 with 25% down. Bank of America will consider a 680 score.

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2292 Wallace Pate, Near Beach, 5 Bedrooms $799,000

DeBordieu Colony is a very private community on the coast of South Carolina, between Charleston and Myrtle Beach, just south of Pawleys Island. In addition to miles of secluded beach, boat landing access to North Inlet & the Atlantic, and a 24-hour manned security gate, the private, equity DeBordieu Club offers Pete Dye golf, a tennis center and an ocean front Beach Club with fine dining, a gazebo bar, two pools, and a playground. There is truly no place like DeBordieu. Come see for yourself!

Call Troi Kaz at 843-455-4523 or email









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