Updated about 5 years ago on . Most recent reply
2nd home/vacation home financing
Hi BP,
I have 2 STR's. 1 is a 2nd home and got vacation home financing on that house. The other is an investment property. Was curious to know if you can get 2nd home financing (10% down) on another property located in another city but within the same state (CA). Are there any specific requirements having multiple "2nd homes" and if so, what are they? Is there a distance requirement between 2nd homes? I remember when we got our 2nd home financing, they required the property to at least be 80 miles or so from our primary. I plan to use the property part time and rent when not in use. My primary residence is in LA. Appreciate the feedback.