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Updated 10 months ago on . Most recent reply
Vacation (second home) mortage when you don't have a "first home"?
Hi all, not sure where to post this so posting in "general".
I am currently a renter in Northern California with no plans to buy in the market where I live. But, I am considering buying a home 300+ miles from me that I can use as a vacation home for myself a few weeks a year and do short term rentals the rest of the year.
Question: Can I get a second home/"vacation home" mortgage (10% down) when I don't have an existing first-home mortgage?
Thanks for your help!
Diana
I am currently a renter in Northern California with no plans to buy in the market where I live. But, I am considering buying a home 300+ miles from me that I can use as a vacation home for myself a few weeks a year and do short term rentals the rest of the year.
Question: Can I get a second home/"vacation home" mortgage (10% down) when I don't have an existing first-home mortgage?
Thanks for your help!
Diana