: Most lenders require a minimum of 10% to 20% down .
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
: Your total monthly debt payments, including both mortgages, should ideally be 43% or lower .
Buying a second home is a significant financial step that requires meeting stricter criteria than a primary residence purchase. Because lenders view second homes as higher-risk—borrowers are more likely to default on a vacation property than their primary residence during financial hardship—you should expect more rigorous documentation and higher financial thresholds.
A "very good" score (740+) is often necessary to secure the most competitive interest rates.
