Requirements For Buying A — Second Home

: You must demonstrate enough liquid savings to cover two to six months of mortgage payments and expenses for both properties. Property & Residency Qualifications

: Lenders generally look for a score of 680 or higher . requirements for buying a second home

Some lenders may allow up to 45% or 50% if other aspects of your application are exceptionally strong. : You must demonstrate enough liquid savings to

A "very good" score (740+) is often necessary to secure the most competitive interest rates. including both mortgages

: Your total monthly debt payments, including both mortgages, should ideally be 43% or lower .