Better
Frequently asked questions

Can I get a conventional loan for vacation or investment properties?

Yes. Better Mortgage provides conventional conforming loans and jumbo loans to qualifying homebuyers who want to purchase second homes, vacation homes, or investment properties. The qualifying criteria for these loans vary depending on the type of property and the amount you need to borrow.

For a conforming loan on a second home or vacation property, you’ll need a minimum credit score of 620 and a minimum down payment of 10%.

For a conforming loan on a single-family investment property, you’ll need a minimum credit score of 620 and a minimum down payment of at least 15%.

For a jumbo (non-conforming) loan on a single-family second home or vacation property, you’ll need a minimum credit score of at least 700, 18 months of cash reserves, and a minimum down payment of 10%. If you can put 20% down on the home, you’ll need just 6 months of cash reserves.

For a jumbo (non-conforming) loan on an investment property, you’ll need a minimum credit score of at least 700, 12 months of cash reserves, and a minimum down payment of 20%.

All conventional loans with Better Mortgage require borrowers to have a maximum debt-to-income ratio of 43%.

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