A "very good" score (740+) is often necessary to secure the most competitive interest rates.
Putting down at least 20% allows you to avoid . requirements for buying a second home
While primary homes can sometimes be purchased with as little as 3% down, second homes rarely offer this flexibility. A "very good" score (740+) is often necessary
To qualify for a "second home" mortgage rather than a more expensive "investment property" loan, the home must meet specific occupancy rules: A guide to second home down payments - Chase Bank requirements for buying a second home
Some lenders may accept a score as low as 640 if you provide a larger down payment (typically 25% or more).
To qualify for a conventional mortgage on a second home, you typically need to meet the following benchmarks: