Mortgage Second Home Guide for Vacation Property (2026)
Finance mortgage second home: loan requirements, down payment, interest rates, and vacation property financing.
Summary
Second home mortgage has specific requirements. This guide explains financing, down payment, and interest rates.
Key Steps
- 1Understand classification: vacation home, not rental property.
- 2Expect higher requirements: larger down payment, higher interest rates.
- 3Typical down payment: 10-20% minimum for second home purchase.
- 4Interest rates: 0.5-1% higher than primary residence mortgage.
- 5Tax implications: mortgage interest deductible up to $750,000 total.