Second Home / Vacation Home
- Available with our 3/1 ARM, 5/1 ARM, 7/1 ARM and our Fixed rate mortgage products.
- Available for purchases and refinances in Alabama, Georgia, Florida, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia. (Fixed rates available for properties located in Florida only)
- Maximum loan amount is $300,000.
- Maximum loan to value is 70%.
- Must be located in an established project. New projects are not eligible. Condo conversions and developments with greater than 25% investor owned units are not eligible.
- Construction and mobile home loans are not available.
- Escrow for property taxes and hazard insurance is required. This means your monthly payment may increase based on changes to your annual property tax and hazard insurance amounts.
- Property must be located a minimum of 200 miles from current primary residence. Interest rate will be 1% higher than current offering rate for primary residence.
Normal underwriting guidelines apply. Terms or conditions may change without notice