A residence other than the borrower's primary residence which the borrower intends to occupy for a portion of each year
A property that the borrower occupies in addition to his/her principal residence Rental income from the borrower's second home may not be considered as stable monthly income
Also known as a vacation home This home is different from an investment property, as it is not rented, but used occasionally by the owners
A residence other than the borrower's primary residence that the borrower intends to occupy for a portion of each year Must be suitable for year-round occupancy
A residence other than the borrower's primary residence which the borrower intends to occupy for a portion of each year Must be suitable for year-round occupancy
Commonly known as a vacation home This home is not rented and is occupied occasionally by the owners
An alternative to your main residence which is subject to capital gains tax! See also: holiday home
Also known as a vacation home This home is different from an investment property as it is not rented, but used occasionally by the owners
A seasonally occupied dwelling that is not the primary residence of the owner Such residences are usually found in areas with substantial opportunities for recreation or tourist activity