Requirements For Buying A Second Home May 2026

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

: Your total monthly debt payments, including both mortgages, should ideally be 43% or lower . requirements for buying a second home

: Lenders generally look for a score of 680 or higher . To qualify for a conventional mortgage on a

Putting down at least 20% allows you to avoid . including both mortgages

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

: Most lenders require a minimum of 10% to 20% down .

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