Buying A Second Primary Residence Apr 2026

Higher rates; intended for 100% rental use. Tax Implications

📍 The IRS generally allows you to deduct mortgage interest on up to $750,000 of total debt across both homes. buying a second primary residence

Only your main home qualifies for the $250k/$500k exclusion. Strategic Steps to Purchase Higher rates; intended for 100% rental use

Prove you can cover both mortgages for 6 months. Mortgage Classifications buying a second primary residence

Must be occupied for the majority of the year.

Second homes often require higher "hazard" or flood coverage.