Secure a Second Home Loan
A second home loan, or vacation home mortgage, is a type of loan used to purchase a property that is not your primary residence. The owner must occupy these homes to some extent and cannot rent them out in full.Typically, you are required to use the property yourself for at least a small portion of the year (such as 10%). Because of this, taxation and financing conditions differ from those of an investment property mortgage.
It’s a great option for:
- People who want a holiday home
- Buyers who plan to use the property themselves part-time
- Those who want limited rental income, not full investment
Some of the features of this vacation house mortgage:
- Up to 90% LTV
- Minimum credit score of 620
- Short-term rental income can be used to qualify if shown on the previous year’s Schedule E.
Feel free to reach out to our experts now for a free consultation:
Key Features of Our Second home Loans
Up to 90% LTV
If you want to keep more cash on hand for other financing options or investment opportunities, it’s a good idea. Because you pay only 10% of the home price, up to 90% loan-to-value (LTV) allows you to purchase a home with as little as 10% down.
For example, if you’re buying a $300,000 home, you may only need $30,000 upfront instead of a much larger amount.
Minimum credit score of 620
To qualify for this vacation Home loan, a minimum score of 620 is required. Fortunately, this is average credit, and a wide range of people—possibly you—can use this option. For instance, if you’ve had past financial challenges but have been improving your credit, you may still qualify and take a step toward homeownership rather than waiting years to reach a perfect score.
Short-term rental income can be used to qualify if shown on the previous year’s Schedule E.
Another advantage of this second mortgage loan is that if you have short-term rental income (such as earnings from renting out part of your home), it can be considered, as long as it’s documented on the previous year's Schedule E. This option increases your borrowing power.
For instance, if you rent out a room on platforms like Airbnb or host guests occasionally, that income can be counted—provided it’s reported on your previous year’s Schedule E (tax return). This can be especially helpful if your salary is not enough to qualify for the vacation home mortgage amount you want.
Why Second Home Buyers Choose Us
Second-Home Specialists
Our focus is on second home financing, so you’re not getting generic vacation mortgage advice. We understand the unique requirements, tax considerations, and approval nuances that come with second-home purchases. You’ll work with experts who help you achieve your dreams, avoid costly mistakes and move forward with confidence.
Speed That Wins Bids
Timing is everything, especially in competitive markets. Our fast, responsive team helps you act quickly and make strong offers. This helps ensure you don’t miss out on the property you want.
Flexible Underwriting
If your financial profile doesn’t fit traditional boxes, we work to find solutions that get you approved. So it does not depend on your income structure; we work to find solutions that help you qualify.
No "Hidden" Primary-Home Logic:
Many lenders apply primary-home rules to second house loan, which limit your options. We don’t. Our approach is designed specifically for second-home buyers, providing you with greater clarity and better terms.
Who This Loan Is Best For
Vacation Home Buyers
These home loans for second home help you buy a home to relax, recharge, and create memories with family.
Frequent Travelers
If you visit a city or country regularly, this option helps you invest in convenience rather than ongoing rental costs.
High-Income Professionals
If you have high income and strong finances, you want a smarter way to expand your lifestyle and assets. So you can enjoy flexibility and efficiency with this second-home mortgage.
Remote Workers & Hybrid Professionals
Are you a remote worker who works from anywhere? So this helps you to enjoy working from your home while maintaining a healthy work-life balance.
Long-Term Investors (Lifestyle + Appreciation)
Buying a second home is not just for short-term goals, but for a lifelong and generational investment. This mortgage vacation property supports your broader financial vision.
How the Process Works
Fast Consultation
You start simple. Speak directly with one of our second-home financing experts to discuss your goals, timeline, and options.
You’ll discuss your timeline (how soon you want to buy) and your goals (is this a vacation spot or a future rental property?)
Review of Scenarios
Based on the information you provided, we analyze multiple mortgage vacation home scenarios tailored to your financial situation,
so you can clearly see your best options and choose what fits your strategy.
Pre-Qualification
At this stage, we make sure you can afford it. It includes something like a preliminary check of your credit, income, and debt. At last, you receive a letter stating how much you are “cleared” to borrow.
This gives you credibility and tells the seller you’re a serious buyer. It gives you confidence and credibility to make competitive offers on your second home.
Close & Fund
Once you’ve found your property, we move fast to finalize your Second Home loan. We handle the details efficiently so you can close smoothly and secure your second home without delays.
You sign the final stack of papers, the funds are transferred to the seller, and the home is officially yours.
FAQs
Yes, but keep in mind that, provided it complies with second-home occupancy regulations, you can buy a second residence in a different state.
Regarding that, there isn’t a rigid mileage rule. But generally, it should be a reasonable distance away to justify it as a vacation property rather than a primary home replacement.
Yes, be advised that the new mortgage loan for second home payment is included in the DTI that second home mortgage lenders use to determine your eligibility. However, the ratio may be somewhat offset if you qualify using rental income (when properly documented).
Yes, you should generally assume that second-home mortgages are typically lower than investment-property loans. Still, they may have slightly higher rates because vacation home mortgage lenders consider them to be a higher risk than primary residences.
Later on, you might be able to convert it, but keep in mind that this depends on the lender’s policies at the time. Long-term plans should be discussed during consultation.
A second residence cannot be rented out year-round and must be used primarily for personal purposes. Larger down payments and more stringent underwriting are typically required for investment property loans, which are intended for income-focused properties.
Maybe, but you have to abide by the terms of the loans for vacation home at the time of origination. Refinancing might be necessary if the use changes later.
Pre-qualification can be completed in a matter of days. Complete closing timelines usually fall between 30 and 45 days, depending on the documentation and appraisal.
Apply for your second house mortgage Today: