Putting down at least 20% allows you to avoid .
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
: Your total monthly debt payments, including both mortgages, should ideally be 43% or lower . Putting down at least 20% allows you to avoid
A "very good" score (740+) is often necessary to secure the most competitive interest rates. including both mortgages
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