Conventional Second Home 10% Down 1 Unit

Dreaming of a vacation getaway or a peaceful retreat to call your own? The Conventional Second Home loan program makes it possible to purchase a second residence with just a 10% down payment. Whether you’re looking for a beachfront condo, a mountain cabin, or a suburban home near family, this program is designed for buyers who want the comfort and freedom of owning a second home—without the hefty upfront cost usually associated with such properties.

This loan program is available for 1-unit properties intended for seasonal or recreational occupancy and not for rental or investment purposes. Borrowers must qualify based on standard conventional underwriting guidelines, including a minimum credit score, stable income, and sufficient reserves. The home must be suitable for year-round occupancy, and the borrower is expected to occupy the property for some portion of the year. Unlike investment properties, rental income from the home cannot be used to qualify for the loan.

Take advantage of this unique opportunity to expand your lifestyle and invest in your own enjoyment. Whether it’s for weekend getaways or extended family visits, owning a second home is now within reach. To learn more, check out our brief explainer video or click Schedule a Meeting to connect with one of our loan experts and discover how this program can work for your personal goals and financial situation.