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Any loan programs for down payment less than 10% for 2nd prop?

or downpayment assistance for vacation prop? Thanks. by lilloui333518 from Amarillo, Texas. Dec 30th 2019 Reply


We do not have any options for less than 10% down on a 2nd home.

Dec 30th 2019
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Not that I know of

Dec 30th 2019
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 1,849 contributions

Down Payment Assistance programs are designed to assist people buying a new primary residence. Second Homes and Rental property do not qualify. Fannie and Freddie will not buy notes on 2nd homes with less than 10% equity.

Dec 31st 2019
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,078 contributions

I've been lending for over 25-years. I'm not aware of any options for less than 10% down payment on a second home, and there is no such thing as down payment assistance for second homes. Our company lends in TX, CO, FL, MN, WI, ND, SD, and IA. Visit me at JoeMetzler.com. NMLS274132

Jan 19th 2020
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