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Updated over 1 year ago on 02/29/2024. Most recent reply

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Posts: 5
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Benjamin GilesPoster

Private Lending & Conventional Mortgage Advice

10% Down Second Home/Vacation Home Loan...Anyone seen this offered recently?

Benjamin GilesPoster

Posted February 28, 2024 15:09

Hey All,

Wondering if anyone has seen this out there in the last month or if anyone has a referral of any banks currently offering this loan option?

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Lender
Dallas, TX

Jay Hurst

Lender
Dallas, TX

Replied February 28, 2024 16:22

Quote from @Benjamin Giles:

Hey All,

Wondering if anyone has seen this out there in the last month or if anyone has a referral of any banks currently offering this loan option?

@Benjamin Giles Any conventional lender should be able to do it. HOWEVER, your upfront fees will be hefty thanks to the loan level price adjustments (LLPA) on a 90% second home. LLPA's are more or less how much over a par rate. So, for 10% second home there is a 4.125% in negative adjustments.

Fannie Mae LLPA matrix

Jay Hurst

Hurst Real Estate, INC

4.9 stars

76 Reviews

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