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Owning a second home can be a sound financial investment. It can also provide a welcome retreat for the family when you need a break from the city. However, financing a secondary residence is often more complicated than first-time buyers expect.

Lenders have stricter financing requirements when it comes to the purchase of a second home or vacation property, and that can make it more difficult for potential buyers to qualify for a mortgage.

At Forest Hills Mortgage, we offer special financing options with reduced down payments and significantly lower rates

Ready to learn more?


CALL TODAY (412) 302-1919.

What Qualifies As A Second Home?

First-time buyers often confuse the idea of vacation homes with investment properties. But for the purposes of financing, the two terms are not interchangeable.

By definition, a secondary residence is a home that the buyer intends to occupy at various times throughout the year. It may be a vacation cabin in the woods, or even a condo in the city, but for at least 30 days during the year it is owner-occupied.

To qualify as a second home a property must meet the following criteria:

  • Property must be owner occupied for no less than 30 days out of the year
  • Property must be a single-unit dwelling
  • Property must be kept suitable for year-round occupancy
  • Property must be exclusively under the owner’s control and not subject to rental, time-share or property management agreements

How Does A Primary Mortgage Differ From A Secondary Mortgage?

Financing a second home is not totally dissimilar to financing your primary residence.

For the lender, it is all about assessing your risk as a borrower. The same criteria apply whether the home will be a primary or secondary residence. That being said, while the basic criteria in review are the same, the outcome can often be very different for a secondary effort.

Got questions?  Give us a call at (412) 302-1919. One of our mortgage specialists would be happy to answer all of your questions and get you started with a great low rate today!


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