Some lenders may accept a score as low as 640 if you provide a larger down payment (typically 25% or more).
While primary homes can sometimes be purchased with as little as 3% down, second homes rarely offer this flexibility. requirements for buying a second home
: Most lenders require a minimum of 10% to 20% down . Some lenders may accept a score as low
: Lenders generally look for a score of 680 or higher . : Lenders generally look for a score of 680 or higher
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
A "very good" score (740+) is often necessary to secure the most competitive interest rates.
Buying a second home is a significant financial step that requires meeting stricter criteria than a primary residence purchase. Because lenders view second homes as higher-risk—borrowers are more likely to default on a vacation property than their primary residence during financial hardship—you should expect more rigorous documentation and higher financial thresholds.