Prove you can cover both mortgages for 6 months. Mortgage Classifications
They know specific market risks (e.g., flood zones). Managing Two Homes Security: Install smart cameras and remote-access locks.
Second homes often require higher "hazard" or flood coverage. buying a second primary residence
Usually deductible up to a $10,000 total limit (SALT).
Use a lender familiar with "second home" loans. Prove you can cover both mortgages for 6 months
Include travel, utilities, and local maintenance.
Only your main home qualifies for the $250k/$500k exclusion. Strategic Steps to Purchase buying a second primary residence
Must be occupied for the majority of the year.