Pacaso's Low Financing Gives Second Home Buyers More Power

*Please note that Pacaso's 3.95% financing offer expired as of 12/31/2022.It's no secret that buying a home is expensive right now. After nearly two years of record-low mortgage rates, rates have risen to levels not seen in two decades. While demand is down across the real estate market as a result, a new offer from Pacaso creates a unique opportunity for anyone contemplating a second home purchase in the near future.Co-Founder and CEO Austin Allison breaks down Pacaso's 3.95% financing offer and how it empowers second home buyers.

For a limited time, Pacaso buyers can secure 3.95% financing on eligible homes, subject to approval. The offer expires on Dec. 31, 2022. Browse a selection of qualified homes here and read terms and conditions here.A 3.95% rate doesn't just make buying a second home more affordable, it increases a buyer's purchasing power and allows them to break into the luxury real estate tier, a traditionally reliable asset in turbulent economies that also provide life enriching benefits.Buyers shopping on the open market are seeing rates of 6.5% for 30-year fixed mortgages. Pacaso buyers who close by the end of the year will have access to dramatically improved rates.

	PACASO END-OF-YEAR OFFER	PACASO STANDARD RATE
RATE	3.95%	5.5%
DEBT SERVICE	$39,500	$39,500
PRINCIPAL	$1,000,000	$718,182
PURCHASING POWER ADVANTAGE	+39%

Consider what this offer means for second home buyers in the market today. With ski season approaching, mountain towns are an attractive destination. However, as mortgage rates rise, buyers are getting less house especially in communities like Park City, Utah where low inventory and high demand drove prices to record highs over the previous two years. Co-ownership offers many advantages over whole homes, including less overall cost and hassle. In this environment, and with this offer, buyers also have the ability to get more value for their money. Browse current Zillow listings and Pacaso listings for Park City to see the difference for yourself. Another advantage of a Pacaso home is confidence that it will maintain value even in this economy. Historical data shows that luxury real estate outperforms the stock market during most recessions and luxury second homes saw no price declines through Q3 2022, unlike the stock market and median priced homes in pandemic boomtowns, which saw decreases in value.

a graph of a number of houses change before and after pandemic

Remote work and low inventory in destination communities have combined to create a new normal for luxury second homes marked by higher than usual demand even though market conditions are slowing sales quarter-over-quarter. In fact, the luxury second home tier is up 152% since the beginning of the pandemic and Pacaso units are currently reselling for 12% appreciation."Luxury real estate is a savvy place to park your money in this economy," said Andreas Madsen, Pacaso's Chief Revenue Officer. "Many recent buyers tell us they are moving money out of the stock market and into luxury real estate with Pacaso because it’s a stable asset that allows them to live better lives. Our 3.95% financing offer makes that deal even more attractive."Take advantage of this limited time offer. Find your dream second home from this collection of Pacaso listings that qualify for our low rate of 3.95%. Contact us if you have questions or want to proceed.

Low financing gives Pacaso buyers more purchasing power

Don't miss out