Requirements For Buying A Second Home May 2026

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

To qualify for a conventional mortgage on a second home, you typically need to meet the following benchmarks: requirements for buying a second home

: Most lenders require a minimum of 10% to 20% down . A "very good" score (740+) is often necessary

: Lenders generally look for a score of 680 or higher . requirements for buying a second home

Putting down at least 20% allows you to avoid .

Some lenders may allow up to 45% or 50% if other aspects of your application are exceptionally strong.

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