Requirements For Buying A Second Home Today

A "very good" score (740+) is often necessary to secure the most competitive interest rates.

: You must demonstrate enough liquid savings to cover two to six months of mortgage payments and expenses for both properties. Property & Residency Qualifications requirements for buying a second home

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

While primary homes can sometimes be purchased with as little as 3% down, second homes rarely offer this flexibility. second homes rarely offer this flexibility.