Requirements For Buying A Second Home -

To qualify for a "second home" mortgage rather than a more expensive "investment property" loan, the home must meet specific occupancy rules: A guide to second home down payments - Chase Bank

While primary homes can sometimes be purchased with as little as 3% down, second homes rarely offer this flexibility. requirements for buying a second home

: Lenders generally look for a score of 680 or higher . To qualify for a "second home" mortgage rather

To qualify for a conventional mortgage on a second home, you typically need to meet the following benchmarks: Property & Residency Qualifications Putting down at least

: You must demonstrate enough liquid savings to cover two to six months of mortgage payments and expenses for both properties. Property & Residency Qualifications

Putting down at least 20% allows you to avoid .

: Most lenders require a minimum of 10% to 20% down .