Can I get a jumbo loan for a second home?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Yes. Jumbo financing is available for second homes, common for higher-priced Florida vacation properties. Expect a larger down payment and reserve requirement than a primary residence.
The home must be a genuine second home, not a rental. We'll match your file to a second-home jumbo program with terms that work for a part-time residence.
Yes, with stronger terms
Yes, you can use a jumbo loan for a second home, which is common in Florida's vacation markets. Expect a slightly higher down payment and rate than on a primary residence.
Lenders view second homes as a bit riskier, so the requirements tighten a little.
What you will need
Plan on a solid credit score, a down payment often around 10% to 20% or more, and healthy reserves. The home must be a true second home, not a rental.
We finance jumbo second homes across Florida's coast. Apply now and we will structure the right loan for your getaway.