- teamsteenstra@nafinc.com
- (508) 685-2716
Cape Cod's Local Mortgage Team • NMLS #21548
Whether you’re tapping equity in your primary residence with a second mortgage or financing a seasonal getaway on Cape Cod, Eric Steenstra helps you structure financing that fits your goals — without disrupting your existing mortgage.
Second Mortgage (Home Equity Loan / HELOC): Borrow against the equity in your current home while keeping your existing first mortgage and rate in place — often used for renovations, debt consolidation, or funding a second-home purchase.
Second-Home Financing: Purchase financing for a vacation home, seasonal property, or future retirement home — common across Cape Cod’s Barnstable County market, where second homes make up a large share of sales.
Local Cape Cod Experience — Second-home financing has different underwriting considerations than a primary residence; Eric navigates these daily.
Full Program Menu — Access to New American Funding’s home equity, second-home purchase, jumbo, and cash-out refinance programs.
Personalized Advice — As a former Series 7 financial advisor, Eric can help you weigh a second mortgage against a cash-out refinance or HELOC based on your full financial picture.
Responsive Communication — Clear updates from application through closing, with no surprises.
Cape Cod’s Barnstable County — along with Plymouth, Norfolk, and Bristol Counties — has one of the highest concentrations of seasonal and second homes in Massachusetts. Financing a second home often requires a larger down payment and different reserve requirements than a primary residence; Eric will walk you through exactly what to expect before you make an offer.
Second mortgage / HELOC: Sufficient equity in your current home, acceptable credit and debt-to-income ratio, and a qualifying property.
Second-home purchase: Typically a higher minimum down payment than a primary residence, sufficient reserves, and the property must be suitable for personal/seasonal use (not a full-time rental) to qualify for second-home pricing.
What’s the difference between a second mortgage and a second home loan? A second mortgage is a loan secured by a property you already own, taken in addition to your existing mortgage. A second-home loan is the primary financing used to purchase a vacation or seasonal property.
Can I use a second mortgage to buy a Cape Cod vacation home? Yes — many buyers use a home equity loan or HELOC on their primary residence as some or all of the down payment on a second home.
Will a second home be treated as an investment property? Not if it’s for personal/seasonal use rather than rented out full-time — Eric will confirm which classification applies to your situation.
Explore Cash-Out Refinance, Reverse Mortgage, or Self-Employed Lending.
