10% Down On Jumbo Loan For Second Home

[Aaron Akins]

Hello All,

I've seen a lot of back and forth searching previous posts on this topic, but I can't find a consistent answer.

Last week, I reached out to my lender about getting a loan on a STR in TN and she says she cannot provide a jumbo loan on a second home with only 10% down - that a product like this does not exist.

I've read that some folks on BP have been successful in getting this type of loan, but I cannot confirm this information. 

Is there anyone here on BP that can fill me in on the most recent and most accurate information pertaining to this question?

Thanks in advance,

Aaron 

[Chris Mason]

Originally posted by @Aaron Akins:

Hello All,

I've seen a lot of back and forth searching previous posts on this topic, but I can't find a consistent answer.

Last week, I reached out to my lender about getting a loan on a STR in TN and she says she cannot provide a jumbo loan on a second home with only 10% down - that a product like this does not exist.

I've read that some folks on BP have been successful in getting this type of loan, but I cannot confirm this information. 

Is there anyone here on BP that can fill me in on the most recent and most accurate information pertaining to this question?

Thanks in advance,

Aaron 

 There are jumbo loans for 2nd homes at 10% down. Find a local mortgage broker that works with more than one lender. Several of the largest wholesale lenders offer this.