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Second Homes & Investment Properties

Whether you’re looking for a vacation home, an investment property or a place to retire, we can help you buy a second home with confidence.

A man and woman sit facing forward with big smiles on a wooden deck, each holding a glass of white wine. They are angled towards each other, and the woman's bare foot is touching the man's calf. The evening sun is casting a warm glow on them.

Second Home vs. Investment Property

It’s crucial to understand the difference between second homes and investment properties. This distinction will impact various aspects of your homebuying journey, such as financing options and your overall lifestyle once you become a second homeowner.

Second Home

  • A house that you plan to use for personal use for more than half the calendar year. You may rent the property short-term if it isn't subject to any rental pools or agreements that require the borrower to rent it.

Investment Property

  • A house that you frequently rent out. Investment properties aren't limited to long–term leases — VRBO and Airbnb are considered investment properties too.

Three Ways to Finance Your Second Home

1. Get a mortgage on your second home

We have many flexible home loan options; however, for a second home, we recommend our Fixed-Rate Home Loan, which is comparable to a primary home rate.

2. Cash-out refinance on primary residence

You can do a cash-out mortgage refinance if you have a mortgage on your primary home and you have enough equity to buy the second home. This strategy will consolidate your mortgage payments into one monthly payment instead of two. Cash-out refinances also allow you to make a cash offer on the second home.

3. Home Equity Line of Credit (HELOC) on primary residence

With a HELOC, you can access the equity in your primary residence to secure a line of credit that can be used to finance the purchase of a second home. You can then draw funds from the line of credit to purchase your second home. Like cash-out refinances, HELOCs provide you with the chance to make a cash offer on your second home.

Woman sitting by the pool at a vacation home

Everything You Need to Know About Buying a Second Home

Whether you’re looking for a vacation retreat, an investment property or a place to retire, this guide provides you with the knowledge needed to buy a second home with confidence.

READ MORE about everything you need to know to purchase a second home.

Rewarding Home Loan Discounts

 As a valued JFG client, you can enjoy these exclusive discounts. Together, we can make your homeownership journey a rewarding one.

$190 Closing Cost Discount

    • Escrow your taxes and insurance

$425 Closing Cost Discount

    • Open or have an existing JFG checking account
    • Directly deposit your payroll to your checking account 
    • Set up an ACH mortgage payment

$615 Closing Cost Discount

    • Open or have an existing JFG checking account
    • Directly deposit your payroll to your checking account
    • Set up an ACH mortgage payment
    • Escrow your taxes and insurance

Request an Appointment

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Loans are subject to credit and property approval, bank underwriting guidelines, and may not be available in all states. Other loan programs and pricing may be available. Certain conditions, terms, and restrictions may apply based on the loan program selected. The term of the loan may vary based upon program chosen. Eligibility requirements are available upon request. Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required. 

Private mortgage insurance may be required on loans with less than 20% down.