Estimate the monthly payment on a second home or vacation property. Second-home loans usually require a larger down payment and stronger credit than a primary residence — enter your price, down payment, and rate to see the full PITI payment.
Lenders typically require at least 10% down on a second home, and often more, versus as little as 3–5% on a primary residence. Adjust the down payment field to match your lender's requirement.
Yes — because a second home is a higher risk to lenders, rates are usually a bit above primary-residence rates. Enter your quoted rate to see the true monthly cost.
A true second home is for personal use; renting it out can reclassify it as an investment property with different loan terms. If you plan to rent it, use the investment property calculator instead.