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Second home financing versus investment home financing
Financing a second home requires 10% down payment and the second home purchase needs to make sense where it cannot be too close to the second home buyer's primary residence. If the second home purchase is less than 60 miles from the primary home, then it needs to make sense in a sense such as being a water front property or in a resort area. Second home financing mortgage rates are slightly higher than investment home mortgage rates. Investment home financing requires 20% down payment and the mortgage rates for investment home mortgage loans are 050% or more higher than primary and second home mortgage rates. Attached is an article on second home financing versus investment home financing.



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