10% Down Second Home/Vacation Home Loan...Anyone seen this offered recently?

[Benjamin Giles]

Hey All,

Wondering if anyone has seen this out there in the last month or if anyone has a referral of any banks currently offering this loan option?

[Jay Hurst]

Quote from @Benjamin Giles:

Hey All,

Wondering if anyone has seen this out there in the last month or if anyone has a referral of any banks currently offering this loan option?

 @Benjamin Giles    Any conventional lender should be able to do it. HOWEVER, your upfront fees will be hefty thanks to the loan level price adjustments (LLPA) on a 90% second home. LLPA's are more or less how much over a par rate. So, for 10% second home there is a 4.125% in negative adjustments.  

Fannie Mae LLPA matrix