10% Downpayment Vacation Home Loan

[Evan O'Brien]

When purchasing a property with a 10% down payment vacation home loan with intentions to use as a short term rental is not being able to use the property as a rental for 12 months a typical requirement of a 10% down home vacation loan? Or do the requirements for how long a property isn’t able to be used as a rental vary per lending institution?

I spoke with a lender last week who explained to me that with their conventional10% down payment vacation home loan program would require the property to not be used as a rental for 12 months. Any additional information for feedback would be greatly appreciated!