Common challenges
Second homes and investment properties are priced differently, and the occupancy you certify must match how you use the home.
Programs that fit
Second Home Loans
A second home loan finances a vacation or part-time residence you occupy for some of the year, often with as little as 10% down on a conventional loan.
Short-Term Rental (Airbnb) DSCR Loans
A short-term rental DSCR loan qualifies a vacation rental on its nightly-rental income, using 12 months of booking history or a third-party projection such as AirDNA, instead of a long-term lease.
Condo Loans
A condo loan is a mortgage on a unit in a condominium project, and approval depends on the building as well as the buyer.
Jumbo Loans
A jumbo loan is a mortgage larger than the FHFA conforming loan limit for your county, used for higher-priced homes.
Tips before you apply
- Decide early whether you will rent it; that determines the loan type.
FAQ
What is the best mortgage for second home buyers?
It depends on your documentation and goal. The programs that most often fit are Second Home Loans, Short-Term Rental (Airbnb) DSCR Loans, Condo Loans, Jumbo Loans.