The Second Home You Keep Coming Back To.

Saxton Mortgage does. At least one conventional program we offer finances a one-unit second home for a purchase, rate and term refinance, or cash-out refinance. At least one jumbo program we offer finances second homes up to $3,000,000, starting at a 700 credit score on loans up to $1,000,000.

The conforming limit in your county caps a second home loan. A high-balance program we use accepts second homes in costlier counties too. Saxton’s financing cap for second homes is below its primary-residence cap, so the cash you bring shapes the price you can reach.

No, a conforming second home may not be operated as a rental or held as a timeshare. Fannie Mae tolerates some rent showing up in the file, provided the lender leaves it out of your qualifying income and you still spend part of each year there.

A conforming second home is one you personally use during part of the year, and it must be livable in every season. A cabin in a resort area qualifies only if it can be lived in all year. Fannie Mae also requires its Multistate Second Home Rider with the mortgage.

Saxton’s summary requires a 620 score for a conforming second home loan, and DU must approve the file. On this occupancy, collections and non-mortgage charge-offs whose combined total tops $5,000 have to be cleared by the closing date.

A second home calls for more cash down than a primary residence, since Saxton’s conventional ceiling for second homes is lower. Gift money is allowed, yet with a thin down payment Fannie Mae expects a minimum share from your own savings before any gift is applied.

Yes, an ARM is possible here: a conventional ARM program we work with names second homes as an eligible occupancy, next to primary and investment use. That program limits second home ARMs to single-unit properties, and we price the ARM against a fixed rate for your loan size.

Yes, Fannie Mae permits cash-out refinancing on a second home, though a listed property has to be withdrawn from sale by the disbursement date. Inheriting the home or receiving it in a divorce settlement removes the ownership waiting period. One program refuses second home cash-out in Texas. Learn more about Cash-out refinancing.

Yes. A loan for a second home is a conventional second home mortgage on a single unit property you occupy for part of the year, and it follows the same conforming loan limits as a primary residence: $832,750 on a one-unit home for 2026, or $1,249,125 in high-cost counties, with jumbo options above that. The differences are in the terms rather than the process. A second home calls for a larger down payment than a primary residence and a smaller one than a rental, and it cannot be rented out full time, because a home rented out full time is financed as an investment property instead. If the price will run past the conforming limit, start with our jumbo second home loan.

Not really. Most vacation home lenders, Saxton included, finance a vacation home as a second home rather than as a separate product, so the same second home mortgage covers a cabin, a beach house or a ski condo as long as it is a single unit you occupy part of the year and do not rent out full time. What does change is geography. A vacation home is often in a different state from your primary residence, and the lender has to be licensed where the property sits. Saxton is licensed in 41 states, including California, Nevada, Arizona, Oregon, Washington, Colorado, Florida and Hawaii, so ask a loan officer to confirm the state before you write an offer.