Investment property
Explore rental-property financing for an income-focused property.
Explore investment property →SECOND HOME
Finance a place of your own.
A second home is different from both a primary residence and a rental. How you will use the property affects the financing path.
When this may be worth exploring.
A useful first step is matching the program to your goals and the property.
- You expect to use the home personally for part of the year.
- The property and occupancy meet an available lender program.
- You want to compare cash needs and carrying costs.
What to compare.
A lower upfront cost does not necessarily mean a lower long-term cost. Compare the whole transaction.
- Occupancy rules and any rental restrictions.
- Down payment, reserves and costs on both homes.
- Taxes, insurance, HOA and maintenance.
Details that help John review your scenario.
You can call without having everything ready. These details make the conversation more useful.
- Property location and planned use.
- Existing housing payments and other debts.
- Available funds and reserves.
A few questions borrowers ask.
Requirements can vary by loan program and lender.
Can I rent the home sometimes?
Program occupancy rules vary; describe the planned use accurately before applying.
Is a vacation property always a second home?
No. Location, use and rental arrangements can affect how a lender classifies it.
Related financing paths.
There may be more than one way to approach the same goal.
TALK THROUGH YOUR SCENARIO
Start with a conversation.
Tell John what you want to accomplish. He’ll help you sort through the options and next steps.