I think that it is the dream of most people to eventually have a home with a water view. There is nothing more peasant that sitting on your deck, looking out at the water, and watching the sun go down. If you are close enough to the water to be able to walk the beach, that really improves your quality of life.

Getting a mortgage for waterfront property presents some unique challenges. Your use of the home as well as the amount you plan to borrow will make a difference in which waterfront property mortgage makes the most sense. These are some of the options:

• Primary Residence – If you will live in the home full time you will most likely finance your waterfront property with a conventional mortgage. You may also qualify for a government loan, an especially good option if you have less than perfect credit.
• Second Home/Vacation Home – For a property that will be used on vacations as a second home you will need to apply for a second home loan.
• Investment Property – If you plan on renting the home either long term or as a short term vacation rental an investment property loan will likely be the best fit.
• Jumbo Loan – Because many waterfront properties are high value homes you may need to consider a jumbo mortgage, or even a super jumbo loan if the loan amount is especially high.

You should really consider discussing this with a mortgage broker who specializes in waterfront mortgages. Ruth Schoenherr is just that.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Belleair, Sand Key, Indian Rocks Beach, Indian Shores and the Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net.