Today's Vacation Home Loan Rates

Vacation Home Mortgage Loans in California

Everything You Need to Know About Getting a California Vacation Home Mortgage

Are you interested in buying a second home and are considering a vacation home mortgage in California? LBC Mortgage can help! Before you decide to work with a lender. It’s important to consider the differences between your primary home mortgage and a vacation home or second home mortgage. Understandably, lenders are cautious to finance second homes, so don’t be surprised if you need a down payment in order to position yourself ahead of your competitors. It doesn’t have to be a large chunk of money but around 10%-20% should be enough to make lenders take your vacation home mortgage application seriously.

With a vacation home mortgage in California, your debt to income requirements are often narrower. Being cautious, lenders often ask for two months payments’ worth in cash reserves, but the amount will depend on your credit score and financial profile.

How Does a Vacation Home Mortgage Compare to Other Types of Mortgages

If you’re interested in getting a second home mortgage and you’re not sure how to afford it, one of the methods is to use the equity that is built up in your primary home. For example, a home equity line of credit can help with the down payments, but you’ll still need the credit profile to qualify for the second mortgage in the first place.

Client Reviews

Vassiliy P
Vassiliy P
20:05 04 Jan 22
It's been a treat working with such knowledgeable and caring staff. Always reachable getting back to you with answers you need quick to make these life...
Mikhail K.
Mikhail K.
20:33 27 Dec 21
It was a pleasure working with Alex Shekhtman and his team on another loan. They made it easy and painless. Very professional and efficient. I would gladly...
Anna G.
Anna G.
15:34 21 Oct 21
LBC Team went above and beyond to help us buy our new home! They were available for all of our questions, were prompt in their replies to us, and guided us...
Julia T.
Julia T.
08:40 22 Aug 21
Excellent team of great professionals! Superb customer service! They have successfully handled our purchase and refinance in a very short period of time,...
Elina L.
Elina L.
11:12 30 Jun 21
It is hard to describe how scary we were when decided to buy a house. We had no knowledge of the processing, prices, policies, calculations… When our agent referred us to Alex Shekhtam, from the first phone consultation we felt to be just in right hands. We are so blessed to have LBC Mortgage team! Our first house was purchased just because of these hardworking, reliable, efficient, responsive professionals! Recently we were able to refinance our house on good conditions, again, just because of them! Easy processing paperwork, knowledgeable advisors, pleasant communication make you feel special. We are so grateful to all and everyone from LBC Mortgage for making our dreams true!!!!
Lora Kochetkova
Lora Kochetkova
03:44 29 Jun 21
LBC Team is now our Number One Team! Their service was impeccable! We really appreciated the detailed explanations and daily reminders throughout the whole...
Galina S.
Galina S.
13:34 29 Mar 21
Alex and his team were very attentive to our needs. We had some very specific criteria when looking for a home, and most mortgage companies, especially banks, were not even willing to listen to us -- but the team at LBC Mortgage was. They kept everything moving and were happy to answer our questions. We never felt like a burden to them, and that’s how customer service should be.
Kaylani paliotta
Kaylani paliotta
05:51 25 Mar 21
If you are shopping online for mortgage or refinance, look no further. Seamless process and good communication. I am pleased with their fast response. They kept me updated with each phase of a process. Thank you LBC Mortgage.
Christiane BABINOT
Christiane BABINOT
07:40 03 Mar 21
I work in construction, so I was used to going to the banks for a loan and being told “no” over and over again. I decided to see if I could bypass the process. I’d heard a lot of good things about this company but I didn’t realize how dedicated they were to helping me until I got to know them myself. They looked at all of my information and got me a great deal for my next project. I know who I’ll be using for all of my home loan needs from this point forward.
Jules Bonchamps
Jules Bonchamps
07:28 16 Feb 21
I’m a real estate broker myself and I consistently rely on LBC Mortgage to get me the best deals. I always know that I can count on Alex Shektman and his team to come through for me when I need them and I even use them myself! No better testimonial to their services than that!
Shane Watson
Shane Watson
04:54 12 Feb 21
I would like to express my gratitude to the LBC Mortage team and personally to Alexander Shekhtman. I turned to Alexander about buying a home: Alexander and his team supervised the whole process very professionally. Personally, in working with LBC Mortgage i liked the punctuality, delicacy and professionalism - any question, any incomprehensible place, was immediately explained and covered. I wish success and good luck to the Agency and its employees in their future work!
Marat Shaimardanov
Marat Shaimardanov
05:16 11 Jan 21
The services were provided at the highest level. They worried about us and delivered information as many times as necessary so that we would all understand) And also a huge plus of this company that I do not really speak English, so I received all the information in Russian, since most of the employees know Russian. I recommend this company
Roman Trach
Roman Trach
12:59 22 Dec 20
We have worked with Alex and his company for many many years and were never disappointed. Just recently they worked on refinancing for our home and again the result exceeded all of our expectations. The team is very professional, on point, makes sure you as a customer, are aware of every step along the way. Everyone is always very helpful and courteous. It was a pleasure to work with Alex and his team again. Thank you!
Alla Krishtall
Alla Krishtall
02:46 23 Sep 20
It’s my second time in 10 years enjoy excellent, very reliable and fast service , strongly recommended to everyone, no hustles and desirable result !!And by the case very professional and friendly stuff !!!
Luna Lovegood
Luna Lovegood
22:36 25 Aug 20

Finding the Best Rates for Your Vacation Home Mortgage

California is a great place to vacation, and buying a vacation home is a smart investment. The state itself is filled with gorgeous landscapes, an incredible history, a wide variety of recreational opportunities and much more. It’s important to note that the IRS views vacation home mortgages differently than your primary residence. According to the IRS, in order to consider your property a vacation home or a second home in California, the property must be used by the owner at least 14 or more days per year or more than 10% of the time that the home is rented.

The most common type of vacation home mortgage is a conventional loan, since government backed loans (like Fannie Mae and Freddie Mac) are usually only used for primary residences. The important point to remember is that your lender will want to be sure that you have a good credit score as well as enough income to cover the payments on both homes. Underwriting requirements for your primary home are much more lenient than they will be for your second or vacation home, but it’s still worth working with a knowledgeable experienced lender when it comes to buying a vacation home in California

Working with LBC Mortgage for Your California Vacation Home Mortgage

At LBC Mortgage, we work with individuals who are interested in buying a vacation home in California. Our decades of combined experience, together with our knowledge about the market in California and financing a second home make us one of the most popular choices for individuals and families who are looking to invest in a California vacation home mortgage for themselves, to rent and much more.

We invite you to contact us to learn more about how we can help you secure financing for your California vacation home mortgage. We work with an extensive network of lenders throughout the state who are ready to lend money to help you make your dream of a vacation home a reality.

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