01
Apr
Cottages
Cottages
A cottage is a great place for family or to provide supplemental income. New Haven considered cottages in two categories: year-round and three seasons (not winterized).
The key points to consider for a cottage appraisal are:
- Location
- Year-round or seasonal
- Water source (well water or lake water)
- Square footage
In major urban centers, New Haven will often lend up to 80% of the Loan to Value on first, second, or third mortgages
In rural areas, New Haven will often lend up to 70% of the Loan to Value on first, second, or third mortgages. (Some Exceptions Apply).
No formal credit or income requirements required.
