Vacation home loan is 10% down still available

[Todd Willhoite]

I read where loans for a vacation home 30 year fixed fannie mae loan only requires 10% down.  I talked to a bank in Branson, MO where I am considering building a vacation home and they said 20% minimum on vacation homes now.  Does anyone know if 10% down, 30 year fixed rates loans for vacation homes are still available?

[William Beck]

It depends. The bank you spoke with most likely has a saturation requirement where they can't do a 2nd home loan if they know all the neighbors are operating vacation rental commercial property. It's a selling the loan off on the secondary market requirement that could get the bank in trouble if they exceed some degree of risk threshold set by the saturation.  I got this information from a President of one of the local banks here. There are ways to get around it though. Let me know if you'd like to connect @Todd Willhoite