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Can I use FHA Mortgage Lenders to buy a Second Home?

Secondary home  refers to a dwelling that an FHA mortgage applicant occupies, in addition to their principal home, but less than a majority of the calendar year.

A Secondary home does not include a vacation home.  Secondary homes are only permitted with written approval from the FHA mortgage lenders approved  jurisdictional Homeownership Center provided that: 

• Minimum down payment is 15% the maximum mortgage amount is 85 percent of the lesser of the appraised value or sales price.  
• the FHA mortgage applicant has NO other Secondary home; 
• the Secondary home will not be a vacation home or be otherwise used primarily for recreational purposes; 
• the commuting distance to the FHA mortgage applicant workplace creates an undue hardship on the FHA mortgage applicant and there is no affordable rental housing meeting the FHA mortgage applicant needs within 100 miles of the FHA mortgage applicant workplace; and 

The FHA mortgage lender must demonstrate the lack of affordable rental housing, and include: 

• a satisfactory explanation of the need for a Secondary home and the lack of available rental housing; and 
• written evidence from local real estate professionals who verify a lack of acceptable housing in the area.  


US Mortgage Lenders has an extensive lender network that allows us to provide unique and mortgage solutions. Contact US for the most update information on terms and conditions. All Information on this site Is for example, hypothetical purposes and should NOT be relied on for decision making.
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