Requirements For Buying A Second Home Apr 2026

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

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 A "very good" score (740+) is often necessary

: Lenders generally look for a score of 680 or higher . second homes rarely offer this flexibility.

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