Buying a second primary residence—often called a "secondary" or "vacation" home—is a major financial move. While you can only have one legal primary residence for tax purposes, you can own a second home that functions as a personal residence rather than an investment property. Financial Prerequisites Lenders typically require 680–720+. Low DTI: Debt-to-income ratio should stay below 43%. Substantial Down Payment: Expect to pay 10%–20% upfront.
Is it for retirement, weekends, or family? buying a second primary residence
Use a lender familiar with "second home" loans. buying a second primary residence
Prove you can cover both mortgages for 6 months. Mortgage Classifications buying a second primary residence