The Splitter Trend is Growing in Popularity

Lender Recognizes that web allows second homes to become more primary.

Birmingham, MI (PRWEB) July 26, 2006 -- "Splitters" a term coined by Florida resort developer WCI Communities, are dual homeowners who are "splitting" more time between residences with the help of technology.

"Thanks to the web you can work from a vacation home as easily as from your 'home-home'; so why not be in your special spot," said Joe Craig, president of IdeaCore a technology company that is helping transform the idea of the office, retail and the electronic cottage.

"So many of our second home borrowers are 'Splitters' we have launched a website to promote the trend -- www.splitterloan.com. We've dropped our second home interest rate premium when we believe a borrower to be a 'true splitter' and not just a second home buyer," says Bob Waun, CEO of Vacation Finance. "Typically lenders charge a slightly higher rate, and require more money down on a second home purchase. We believe 'splitters' should get the same deal on a vacation residence as they would on a primary home."

The second home landscape is changing to meet the needs of more frequent use. A cottage needs to be more than just a lakeside hammock and rustic digs. Splitters are demanding more luxury and more lifestyle experiences while away from their primary home. Fractional ownership and condo hotels are just two popular innovations.

"Condo Hotels are ideal for splitters, many offer office space amenities and work centers as part of the hotel, and all the comforts of home," states Steve Roszell of CondoHotels.com. "We are seeing more people using a condo hotel as a home based and office space for more and more time each year."

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