Because it prides itself in community and family values and offers an assortment of special organizations, community events, parks and recreational areas and lakeside attractions to help foster such ideals, Lake Dallas, Texas, is a dream community for many residents and prospective home buyers. Beyond the cozy boundaries of Lake Dallas, property owners can conveniently venture to the shopping, dining and entertainment venues of Dallas, Fort Worth, Frisco and Plano.

Despite the primarily affordable price tags on available Lake Dallas new homes for sale in this community often feature luxury amenities like private pools, custom upgrades and impressive numbers of bedrooms and baths. Sizeable single-family homes dominate the Lake Dallas real estate market, and these homes situate families and their children close to the numerous neighborhood parks and the schools within the Lake Dallas Independent School District.

Lake Dallas is an up-and-coming lakeside community in North Texas. The entire town is seeing the effects of growth and development. A new toll bridge, development of commercial and business buildings and a revitalized downtown area are starting to attract attention to this small, quiet and charming town. Its lakeside location offers fishing, boating, waterskiing, swimming and other activities to its residents. Lake Dallas affordable real estate also attracts new residents to the area. As it grows, the City of Lake Dallas has no plans to lose its small-town feel. It expects even more residents to get hooked on Lake Dallas.

Lake Dallas is a lakeside town in Denton County, located directly north of the Dallas-Fort Worth area. Lake Dallas provides a cozy environment where locals enjoy Lewisville Lake for swimming, boating and socializing with family and friends. At the recent “Waterfest Festival,” Lake Dallas put on wakeboarding demonstrations and supplied food and beverages, along with live music and art exhibitions. Other fun activities in town include picnicking at Willow Grove Park and informal neighborhood social gatherings. Lake Dallas eco-friendly homes for sale are plentiful, and the community’s downtown district has been developing the newer commercial buildings with residential lofts onsite. This great multi-use concept has become popular around the country, and Lake Dallas is leading the way in the Denton County. Of course, these innovative plans don’t take away from the small-town atmosphere of Lake Dallas, which has maintains historic roots, a sense of identity and Lone Star State appeal.

Just north of the bustling Dallas-Fort Worth Metroplex is the quiet, lakeside community of Lake Dallas, Texas. With its charming, renovated downtown area, tree-lined streets and quaint shops, Lake Dallas eco-friendly real estate offers a wonderful atmosphere close to the big cities. The community has preserved the historic facades of its downtown’s late 19th century and early 20th century buildings, and now it actively seeks to reuse the existing space in new, creative ways such as large lofts available alongside unique shops. New shopping malls offer modern retail therapy, too, with big-name stores alongside independent boutiques. But it’s Lewisville Lake and its wonderful outdoor recreation activities that takes center stage in Lake Dallas. As a resort community, the town focuses on its fun, and many of the parks offering great activities for kids, as well as boating, fishing and more.

Lake Dallas is a fabulous community filled with wonderful recreational activities that involve their pristine lake. Residents enjoy camping at Willow Grove Park, swimming, boating, sunbathing and grilling next to the waters of Lake Lewisville. The lake is a favorite meeting place for families enjoying their weekends or city festivals. Lake Dallas nearly new homes for sale in this community go fast!

The Lake Dallas WaterFest features such activities as a wakeboarding show, Jet Ski races, musical performances, outdoor games and great food. Other community events include Lake Dallas Halloween Celebrations, the Lake Dallas Holiday Celebration and Keep Lake Dallas Beautiful and City Wide Clean-up. Lake Dallas’ community understands the importance of keeping public places clean and protecting their amazing natural beauty.

For special occasions, families in Lake Dallas head over to the Duck Inn. This restaurant has delighting locals and visitors since its opening in 1945. Today, this local landmark still serves what has been described as “the best catfish in town” in the same house when it started.

Due to the new construction around Lake Dallas, new residents are drawn to this Dallas-Fort Worth suburb each year. Considered by some to be a resort town, Lake Dallas attracts a diverse blend of first-time visitors and regular seasonal vacationers each year. Lake Dallas, TX real estate offers close proximity to the metroplex area. Residents find easy access to the vibrant life of a big city while being able to retire to their comfortable homes to enjoy the serenity of suburban and lake living. Plus, the high quality of small-town life in Lake Dallas makes it an excellent location for its exceptional educational institutions and abundance of warm smiling faces.

The process of purchasing a second home will resemble when you purchased your first home. You will have to provide all of the same documentation and will still have to go through the same mortgage and real estate purchase processes. However, there are a few important differences when buying a second home.

Understand What Lenders Classify as a Second Home

When you apply for a mortgage for a second home, your lender must validate that your new property meets the criteria for a second home. The first thing that your lender will check is the size and price of the secondary residence as compared to the primary residence. The second home must be smaller in size and price than the primary residence. The next thing that your lender will check is whether or not the second home is at least 100 miles away from the primary home.

For many second home buyers, their desired property does not meet the set of circumstances required to be labeled as a second home by a lender. The situation is different for every buyer and lender and for each circumstance, so don’t give up on buying that second home quite yet. The down payment difference between a primary residence and a second home is very small. In most cases, buying that second home is still easier than purchasing an investment property. It will depend on what type of mortgage you choose, but your down payment will most likely be between five and ten percent. Remember that the more money you put down, the lower the interest rate that you will be offered and the lower your monthly payment will be.

Talk to Your Bank about Your Mortgage Options

Purchasing your second home offers you the same lending options that you had when you bought your first home. There are a few new options for this purchase that you may want to consider. If you plan on holding on to the home for a long time, talk to your lender about a fixed rate mortgage. However, if this purchase is going to be short-term in nature, consider an adjustable rate mortgage or a balloon as an option. Either of these options will get you your financing with a much lower rate than the fixed rate mortgage will offer.

Gather Information About Second Home Purchases

Your interest rate can be the same as your primary home, in many cases. Many mortgage lenders offer second home buyers the same rate and down payment as a primary home. Some things in a buyer’s financial history, however, can lead to a very slight increase in the mortgage rate. In most cases, this increase will only be one-eighth of a percent over the going interest rate, but the increase rarely goes over one-fourth of a percent. To figure out how much these increase will affect your payments, use a mortgage calculator and add a fourth of a percent (just to be safe) to the advertised mortgage interest rate and factor a five percent down payment. That will give you an idea of how much these variance will affect your mortgage payments.

If you are curious, you can use the going interest rate when considering possible payments. Use a mortgage calculator and figure in at least 5% down payment. Use the posted interest rate, add a quarter percent to be safe, and play with the figures. Make sure and take the interest paid per year into consideration. Everyone can use another tax deduction. If it is in your budget and would give you your dream, what are waiting for?

Are you looking for a summer place, have a look at Lake Dallas Waterfront Real Estate.