Question about required down payment on vacation rental property

[Steve Bell]

Hi BP community,

My partner and i are hoping to purchase a short term rental very soon for the first time. 

My lender asked me how much we plan to put down for the purchase and as we understand it a vacation rental property can be purchased for as low as 10% down. My lender recently told me if the property is a second home we can put 10% down, but if we are purchasing a vacation rental we have to put down 15%, what we would like to know is why? We disclosed to our lender we plan to use house as an STR, but our lender insists on 15%.

Can anyone verify this? Is a must to put down 15%? Is this a requirement from every lender or could lenders say we will give you the loan, but this particular lenders requires 15% down? Any insight would be greatly appreciated! Thanks!