Most of the programs available for owner occupied homes are available for second homes. Look up specific programs to see if what you want is here; it probably is.
Parameters for vacation homes are logical and reasonable . . . must be 50 miles from your present home, or make sense . . . you live in inland Florida and actually have a beach house. I'm good with that.
If you want to occasionally rent it, I don't care, but if you need rental income to qualify for the mortgage, it is a rental, not a second home.
And for those of you creative investors, don't think I won't notice that you live in Atlanta and want a vacation home in Smyrna. . . I don't dance around with occupancy statements. If you state you'll live there as a method of getting the owner occupied or second home interest rate, you'd better mean it. The law applies to you, too. Not just me.
