Second Home Jumbo Loans — California
Can you use a jumbo loan to buy a second home or vacation property?
Yes — jumbo financing is available for second homes and vacation properties. Here’s what the requirements look like.
Yes — jumbo loans work for second homes
All major jumbo programs support second home purchases and refinances. Whether you’re buying a beach house, a mountain retreat, or a vacation property, jumbo financing can get it done — with slightly tighter terms than a primary residence loan.
Second home jumbo requirements
| Feature | Requirement |
|---|---|
| Minimum credit score | 660–700 depending on loan amount |
| Maximum LTV | 80% standard; some programs allow up to 89.99% |
| Maximum loan amount | Up to $3M–$3.5M depending on program |
| Eligible property types | 1-unit SFR, condo, PUD |
| Reserve requirement | 12–24 months PITIA depending on loan amount |
| Cash-out refinance | Available up to 70–75% LTV with 720+ credit score |
What qualifies as a second home?
A second home must be a property you intend to occupy personally for some portion of the year, suitable for year-round use, and not subject to a rental management agreement. If the property is purchased primarily as a rental, it is classified as an investment property.
Second home vs. investment property — key differences
- Second homes allow a lower down payment (20% vs. 25–30% for investment)
- Second homes have lower reserve requirements than investment properties
- Second home rates are typically better than investment property rates
- Multi-unit properties generally do not qualify as second homes
If you’re buying a vacation property you’ll use personally, classifying it correctly as a second home can meaningfully improve your loan terms.
Serving California homebuyers and investors — Orange County, Los Angeles, San Diego, the Inland Empire, and communities throughout Southern California including Irvine, Huntington Beach, Anaheim, Fullerton, Garden Grove, and Santa Ana.