Make room for your favorite getaway.
Explore financing for an eligible vacation or second home you plan to enjoy personally.
Explore My Second-Home Options →Tell us about the property and how you plan to use it.
A second home for your own time away.
Second-home financing is for a property you use personally for part of the year, in addition to your primary residence. The home must be suitable for year-round occupancy. Your actual plans determine whether second-home or investment-property financing is the right fit.
You can explore conventional, Jumbo or selected alternative-documentation options. Each has its own requirements for income, credit, down payment and the property.
A home beyond your everyday address.
Whether you want a coastal retreat or another place to spend part of the year, the right financing starts with the property and your intended personal use.
What we'll review
- Your use of the property and any rental plans.
- Property type, location, and project documents.
- Income, existing housing costs, credit, and funds.
- Compatible conventional, Jumbo, or alternative-documentation options.
Vacation / Second Home Highlights
- Loan amount
- Conventional limits depend on the property’s county. Selected Jumbo options allow up to $5 million, subject to the loan’s requirements. Ask us to confirm the available amount for your property.
- Credit score
- Requirements vary by program. Conventional options require automated underwriting approval and applicable credit and mortgage-insurance requirements; Jumbo and alternative-documentation options have separate score requirements.
- Down payment / equity
- As low as 10% on selected eligible second-home purchases; other scenarios require more.
- Occupancy
- Second home / vacation home for personal use.
- Property types
- Eligible one-unit homes and condos suitable for year-round personal occupancy. Second-home financing described here does not cover multi-unit properties or timeshares.
- Loan purposes
- Purchase, rate-and-term refinance and selected cash-out refinance options.
- Rate structure
- Fixed-rate and ARM options. An ARM’s rate and payment can change after its initial fixed period.
- Interest-only
- Available on selected Jumbo and alternative-documentation programs, with separate qualification requirements.
- Amortization / repayment
- Conventional fixed-rate terms include 10, 15, 20, 25 and 30 years on selected options. Selected Jumbo and alternative-documentation options include 30- and 40-year structures. Terms and payment schedules vary by program.
- LLC closing
- Not available on conventional second-home loans. Ask us about ownership requirements for other financing options.
- Mortgage insurance / reserves
- Mortgage insurance may apply to conventional loans with less than 20% down. Additional funds held in reserve may be required.
- Available states
- Michigan, Florida and California, subject to program and property eligibility.
Highlights combine different programs and may not be available together. Occupancy, project eligibility, credit, income, and lender requirements apply. ARM rates and payments may change; interest-only payments do not reduce principal and payments increase when amortization begins.
A place for the way you spend your time.
Your favorite getaway
Buy an eligible home near the beach, lake or another destination you enjoy.
Time near family
Explore a second home where you plan to spend part of the year.
Refinance a second home
Review your rate, repayment term or eligible equity options.
Choose the financing that matches your plans.
A second-home designation is based on actual use and program rules, not simply calling a property a vacation home. Tell your loan officer about rentals, management arrangements, and who controls occupancy.
Planning a rental investment? Explore DSCR →Available States
Explore second-home financing through PMF in California, Florida, and Michigan.
Property, project, lender, and program requirements apply.
Vacation / Second Home FAQs
What counts as a second home?
An eligible second home is generally a one-unit property you occupy for part of the year, in addition to your primary residence. It must be suitable for year-round occupancy and meet the selected lender’s personal-use and control requirements.
How is this different from an investment property?
A second home is intended for your personal use. A property intended primarily for rental or income-producing use may need investment-property financing.
Can I rent it out occasionally?
Occasional rentals may be allowed if the home still meets second-home rules and the rent is not used to qualify. A property used primarily as a rental needs investment financing. Tell us about rental or management arrangements before choosing a loan.
Can projected rent help me qualify?
Rental income from the second home is not used to qualify under the reviewed second-home approaches. If you need property rental income to qualify, discuss investment-property or DSCR options instead.
How much down payment do I need?
Selected second-home purchase options allow as little as 10% down. Loan amount, credit, property type, documentation, and program can require more.
What credit score is required?
There is no single score requirement across the available approaches. Conventional options require automated underwriting approval and applicable credit requirements. Other programs have separate score requirements. Reach out so we can review your options.
Can I finance a condo?
Eligible one-unit condos may qualify, subject to project and lender review. Not every resort condo, condotel, or project with a rental arrangement qualifies.
Can I buy a duplex or a timeshare as a second home?
The second-home options presented here are limited to eligible one-unit dwellings. A duplex, other multi-unit property, timeshare, or shared-occupancy arrangement does not qualify under these second-home criteria.
Can I use FHA, VA, or USDA to buy a vacation home?
The purchase programs presented on our FHA, VA, and USDA pages are intended for qualifying primary residences, not vacation-home purchases. An existing government-backed loan may have separate refinance rules; that does not create second-home purchase eligibility.
Can self-employed borrowers qualify?
Yes, subject to the selected program. Standard income documentation or eligible Bank Statement options may be available.
Are fixed, ARM, and interest-only options available?
Selected conventional, Jumbo, or alternative-documentation programs offer different rate and repayment structures. Interest-only options require separate review and are not part of every program.
Can I refinance my second home?
Selected programs support rate-and-term or cash-out refinancing of an eligible second home. Equity, occupancy, property type, credit, and repayment structure affect the available terms.
What happens after I submit my scenario?
A licensed PMF loan officer will review your scenario and discuss possible options. An inquiry is not approval.
Have your getaway in mind?
Let's review the property and your financing goals.
Explore My Second-Home Options →Program availability and terms depend on your complete scenario and underwriting. This is not a commitment to lend. An inquiry is not an approval.