How to buy a second home
Eyeing a beach bungalow or a mountain lodge? Read these tips first.
6 min read
Sep 10, 2025
David McMillin
Contributor, Personal Finance
Experience
David McMillin is a contributor to Bankrate covering personal finance, including mortgages, real estate, student loans and auto loans. From budgeting tips for individuals to funding strategies for aspiring business owners, his goal is simple: to help readers figure out how to save more and stress less. As a musician, he has spent a lot of time worrying about money, as well, and he applies the lessons he’s learned from that financial balancing act to offer practical advice for personal spending decisions.
McMillin studied writing at DePauw University. He is based in Chicago and loves to discover new places. He only needs to visit four more states (Alaska, Oklahoma, Utah and Vermont) to check all 50 off his list.
David's latest articles
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Pros and cons of a cash-out refinance
A cash-out refinance is best reserved for major expenses.
5 min read Sep 08, 2025 -
What is an FHA cash-out refinance?
Here’s how an FHA cash-out refinance works.
6 min read Sep 08, 2025 -
What is a debt-to-income ratio for a mortgage?
It varies, but generally, the lower the better. Here’s why.
6 min read Sep 05, 2025 -
Should you refinance your mortgage now, or wait for Fed cuts?
With a big Federal Reserve decision on the horizon, does it make sense to refinance your mortgage now, or wait?
2 min read Sep 05, 2025 -
The rise of the equity rich: How U.S. homes have gained value and owners home equity
What does it mean for the average morgage-holding homeowner?
5 min read Sep 04, 2025 -
FHA closing costs: What they are and how much you’ll pay
Like other types of mortgages, FHA loans come with closing costs. Here’s a breakdown of what to expect.
4 min read Sep 02, 2025 -
Rates or prices? Which need to drop to make buying a house more affordable?
If you’re thinking about buying a house in 2025, you’re likely hoping for some kind of relief to make the purchase feel a bit easier on your bank account. Eighty-three percent of U.S. adults who don’t [...]
6 min read Aug 27, 2025