Residential
Second Home Loans
Dreaming of a vacation home or a getaway retreat? CMRE's Second Home Loans can help you make that dream a reality. With competitive rates starting at 6.875% and flexible options, we can help you find the perfect loan to finance your second home purchase.
Program Benefits
Competitive interest rates starting at 6.875% to help you save money.
Loan options tailored to your unique financial situation.
Low down payment options are available with LTVs up to 97%.
Expert guidance throughout the entire loan process.
Build equity and diversify your real estate portfolio.
Enjoy a second home for vacations, rentals, or future retirement.
Program Highlights
Max LTV
97%
Min Credit Score
620
Max DTI
45%
Loan Amount Range
$50,000 - $2,000,000
Amortization Options
Eligible Properties
- Single Family
- Condo
- Townhouse
- Multi-Family (up to 4 units)
Program Requirements
Income Documentation
- •Stable employment history and income documentation.
- •Sufficient income to cover all existing debts and the new mortgage payment.
- •Verification of income sources, such as pay stubs and tax returns.
Asset Verification
- •Sufficient assets to cover the down payment, closing costs, and reserves.
- •Verification of asset statements, such as bank accounts and investment accounts.
- •Adequate reserves to cover several months of mortgage payments.
Insurance & Title
- •Hazard insurance to protect the property against damage.
- •Flood insurance if the property is located in a flood zone.
- •Title insurance to protect against title defects.
Property Requirements
- •Minimum FICO score of 620.
- •Good credit history with responsible borrowing habits.
- •Low debt-to-income ratio demonstrating the ability to manage debt.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
A second home is a property that you intend to occupy for a portion of the year, typically for vacations or leisure purposes. It should not be your primary residence and must be a reasonable distance from your primary residence. The home cannot be rented out for more than 14 days per year to be considered a second home by most lenders.
Second home loans allow you to purchase a property for personal use without having to sell your primary residence. They provide an opportunity to build equity, diversify your real estate portfolio, and enjoy a vacation home for relaxation and recreation. They also open the door to potential rental income opportunities in the future.
Second home loans are intended for properties that you will personally occupy for a portion of the year. Investment property loans, on the other hand, are for properties that you intend to rent out for the majority of the time. Second home loans typically have slightly more favorable terms than investment property loans, as they are considered less risky by lenders.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
