Is it true that down payment for a second house purchase is 10%?

[Valentina El Frih]

We are looking for an STR in the Tampa area. We are from DC and when looking at cabins for a STR here in VA, our real estate agent told us since we already have 1 mortgage, the second house purchase would have to be a 10% down instead of 3%. Everyone I asked about this said this is not true. Please advise.

[Kenneth Garrett]

@Valentina El Frih

I used a second home/vacation home for my STR. 10% down. I had to agree to use it 14 days a year, which was no problem to enjoy family time there once or twice a year. I could not have a lease on the property (more then 30 days), but STR no problem as long as stays are less then 30 days, which typically is the case.