Risk & Money-In
Second Home Loan
A lower-rate loan for a property you occupy part of the year.
Why you care
The rate is attractive and the occupancy representation is real. Buying on a second-home note and renting it 300 nights a year is occupancy fraud, and the note usually has an acceleration clause.
Worked example
Roughly 10% down versus 20–25%, with conditions about distance from your primary home and personal use. Read them before you sign, not after.
Taught in The Lender