Requirements For Buying A Second Home May 2026

Some lenders may allow up to 45% or 50% if other aspects of your application are exceptionally strong.

A "very good" score (740+) is often necessary to secure the most competitive interest rates. requirements for buying a second home

Putting down at least 20% allows you to avoid . Some lenders may allow up to 45% or

: Lenders generally look for a score of 680 or higher . requirements for buying a second home

Some lenders may accept a score as low as 640 if you provide a larger down payment (typically 25% or more).

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