What is the down payment for a second home?
Second homes generally require 10% down on a conventional loan, more than a primary residence but far less than an investment property. Strong credit keeps the requirement at the low end.
The home must be a genuine second home you occupy part-time, not a rental. We'll confirm it qualifies as a second home and structure the down payment accordingly.
Usually 10% or more
A second home typically requires at least 10% down on a conventional loan, though some lenders want more depending on your credit and the property. It is more than a primary home but less than a rental.
Government loans like FHA and VA do not cover second homes, so conventional financing is the usual route.
Planning your cash
A stronger credit score and reserves can help you qualify at the lower end of the down payment range. The home must be for personal use to get second-home pricing.
We will map your exact down payment. Apply now and we will run your second-home numbers.
Verify the details for your own situation against these government and agency sources: Florida Housing homebuyer programs and CFPB Owning a Home guide.