What are my financing options for a vacation home/second home that I plan to rent out?

You can purchase a second home for as little as 5% down.

Tom,Since you are planning to rent the property, the best option will be to refinance it as an investment property rather than a second home. Although rates are slightly higher for investment properties, this would be the correct way to approach it. The minimum equity required would be 25%, so you will have options. Feel free to shoot me an e-mail and we can set up a time to talk. Allen Lundberg, allen@rockymtnmtg.com

20% down on current LTV, non-owner occ, conventional. Rates are not too bad right now.

If you buy or refinance a second home you can get 90% financing as long as it is a single family home and your credit and income qualify. If you buy an investment property you can get 85% financing. If you refi an investment you can only go to 75%. Hope this helps!Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation ask for Michelle or Benny. We will find the Best Mortgage Option to suit your needs! Check us out at www.BestMortgageOption.comAsk us about the awesome discounts we offer heroes as a Homes for Heroes affiliate!

It depends on your qualifications... If you need the rent from the vacation home to qualify, then you will need to treat it as an investment property purchase with a minimum of 15% down. If you can carry both mortgages, you can purchase as a second home with only 10% down. I imagine that you are going to use it for leisure as well as rent it out when you are not vacationing. Is that correct?

You are looking at 20% down, and you will need to qualify for the entire PITI payment, with no rental income allowed.