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Compare second home mortgage rates

Andrew Dehan Written by
Andrew Dehan
Amelia Buckley Edited by
Amelia Buckley,
Thomas Brock, CFA, CPA Reviewed by
Thomas Brock, CFA, CPA,
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Updated on June 23, 2026

On Tuesday, June 23, 2026, the national average 30-year fixed mortgage APR is 6.68% according to Bankrate's latest survey of the nation's largest mortgage lenders. Use Bankrate's rate table to compare today's second home APRs.

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Mortgage type

Second home mortgage rates today

Showing results for: Single-family home, 30 year fixed and 5 year ARM mortgages with all points options.

The listings that appear on this page are from companies from which this website receives compensation.

Tomo Mortgage 30 Year Fixed
NMLS #2059741 | State Lic: RM.804811.000
Rate as of 6/23/26
5.875%
APR
6.081%
Points: 1.823
Monthly payment
$2,083
Upfront costs: $8,0668 year cost: $163,741
Customer score
Sage Home Loans 30 Year Fixed
NMLS #3304 | State Lic: RM.850026.000
Rate as of 6/23/26
5.998%
APR
6.228%
Points: 1.995
Monthly payment
$2,110
Upfront costs: $8,5168 year cost: $168,019
Customer score
Optimum First Mortgage 30 Year Fixed
NMLS #240415 | State Lic: RM.804405.000
Rate as of 6/23/26
6.123%
APR
6.350%
Points: 1.808
Monthly payment
$2,138
Upfront costs: $8,3598 year cost: $171,010
Customer score
Real Genius 30 Year Fixed
NMLS #2389303 | State Lic: RM.804955.000
Rate as of 6/23/26
6.375%
APR
6.562%
Points: 1.562
Monthly payment
$2,197
Upfront costs: $6,7938 year cost: $176,921
Customer score
First Federal Bank 30 Year Fixed
NMLS #408902
Rate as of 6/23/26
6.375%
APR
6.575%
Points: 1.728
Monthly payment
$2,197
Upfront costs: $7,2778 year cost: $177,405
Customer score
The Central Trust Bank 30 Year Fixed
NMLS #407985
Rate as of 6/23/26
6.375%
APR
6.581%
Points: 1.56
Monthly payment
$2,197
Upfront costs: $7,4818 year cost: $177,609
Customer score
Aimloan 30 Year Fixed
NMLS #2890 | State Lic: RM.850089.000
Rate as of 6/23/26
6.750%
APR
6.951%
Points: 1.748
Monthly payment
$2,283
Upfront costs: $7,1488 year cost: $187,885
Customer score
First Residential Independent Mortgage 30 Year Fixed
NMLS #1907
Rate as of 6/23/26
6.750%
APR
7.043%
Points: 1.938
Monthly payment
$2,283
Upfront costs: $10,3228 year cost: $191,058
Customer score
Alliant Credit Union 30 Year Fixed
NMLS #197185
Rate as of 6/23/26
6.875%
APR
7.092%
Points: 1.898
Monthly payment
$2,312
Upfront costs: $7,6318 year cost: $191,912
Customer score
Rocket Mortgage 30 Year Fixed
NMLS #3030
Rate as of 6/23/26
7.250%
APR
7.530%
Points: 1.875
Monthly payment
$2,401
Upfront costs: $9,6008 year cost: $204,537
Customer score
New American Funding 30 Year Fixed
NMLS #6606
Rate as of 6/23/26
7.500%
APR
7.759%
Points: 1.787
Monthly payment
$2,462
Upfront costs: $8,7908 year cost: $210,321
Customer score
Optimum First Mortgage 5/6 Arm
NMLS #240415 | State Lic: RM.804405.000
Rate as of 6/23/26
6.748%
APR
6.757%
Points: 1.872
Monthly payment
$2,283
Upfront costs: $8,5848 year cost: $196,450
Customer score

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About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our “Advertisers”). Other lenders' terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a “Next” button that can be used to click-through to the Advertiser's own website or a phone number for the Advertiser.

Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.

Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertisers phone number when you click-through to their website. In addition, credit unions may require membership.

Loans Above $832,750 May Have Different Loan Terms: If you are seeking a loan for more than $832,750, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.

Consumer Satisfaction: If you have used Bankrate.com and have not received the advertised loan terms or otherwise been dissatisfied with your experience with any Advertiser, we want to hear from you. Please click here to provide your comments to Bankrate Quality Control.

Table of contents

Current second-home mortgage rates

Mortgage rates have settled into the low-to-mid 6% range for primary residences, and many experts predict they'll remain there into next year despite small spikes early in 2026. 

Keep in mind that second-home mortgage rates are typically higher than those for primary residences. That's because they hold more risk — if you’re struggling financially, you’re much more likely to pay the mortgage on the home you live in than the one you vacation in or rent out. For context, the chart below shows current rates you could be quoted for a mortgage on a primary residence.

“Rates on mortgages for second homes might create a little sticker shock,” says Bankrate housing market analyst Jeff Ostrowski. “For that reason, the standard advice about shopping around is especially relevant.”

National mortgage rates by loan type

Product Interest Rate APR
30-Year Fixed Rate 6.61% 6.68%
15-Year Fixed Rate 6.00% 6.09%
30-Year Fixed Rate FHA 6.28% 6.31%
30-Year Fixed Rate VA 6.24% 6.28%
30-Year Fixed Rate Jumbo 6.76% 6.79%

Rates as of Tuesday, June 23, 2026 at 6:30 AM

Factors that influence second-home mortgage rates

Mortgage rates for second homes are based on a variety of factors, including your: 

  • Creditworthiness: The higher your credit score and the lower your debt-to-income (DTI) ratio, generally, the better your interest rate. For a second-home mortgage, you’ll typically need a credit score of 660 and a DTI of 45% or less.
  • Loan-to-value (LTV) ratio: The LTV is the ratio of the loan amount to the appraised value of the property. A higher down payment means a lower LTV, a lower risk for the lender, and often, a lower interest rate. Second-home lenders typically prefer a lower LTV, ideally below 80%.
  • Loan term: The length of the loan also affects the interest rate. Longer terms can translate to higher interest rates.
  • Property type: Not all properties are created equal in lenders’ eyes. Some condos and co-ops can be difficult to finance, for example. If it’s a property you plan to lease out, the lender might also consider the rental income it generates.

Primary vs. second-home mortgage differences

Americans are buying far fewer second homes these days — only about a third as many as during the pandemic. U.S. buyers took out about 86,600 mortgages for second homes in 2024, which is the lowest amount since 2018 and represents just 2.6% of all mortgages taken out that year, according to a Redfin analysis.

However, if you are one of the borrowers looking to get a second home, here are some important characteristics that distinguish them from primary mortgages:

Primary home Second home
Down payment Often as low as 3%–5% with conventional loans Typically requires at least 10% down
Interest rate Lower rates than those for second homes Slightly higher rates than those for primary homes, typically by 0.5%–0.75%
Application requirements Often 620 minimum credit score for conventional loans, up to 50% DTI, standard income and assets requirements Typically, 660 minimum credit score, up to 45% DTI (some lenders cap it at 36%), must show the ability to cover both mortgages via income or assets
Mortgage programs Access to government-backed options in addition to conventional loans (e.g., FHA loan, VA loan) Not eligible for FHA or VA loan; must use conventional loan, all cash or home equity to purchase second home

Should you get a second-home mortgage?

Whether to take out a second-home mortgage is a personal choice. There are various ways to finance an additional property. Among the options, you could:

  • Tap the equity in your primary residence. A home equity loan or home equity line of credit (HELOC) are ways to pull money out of your home.
  • Borrow against your investments. If you have a significant portfolio, you might be able to take out a loan against those assets to buy a second home.
  • Pay cash. If you have the means to do so, then the decision comes down to what kind of deal you can get on a second-home mortgage. If the rate and terms are attractive, then it might make more sense to take out the loan, rather than delete capital or savings.

As with any major financial decision, it’s important to weigh the pros and cons of a second-home mortgage.

Pros of second-home loans

  • You can get tax deductions. You can deduct the mortgage interest on up to $750,000 of mortgage debt, including both your primary residence and second home (or $375,000 if married filing separately). This applies only to a “qualified” second home, meaning you don’t rent it out, or you rent it out for only a limited period each year. You can also deduct combined property taxes, up to $40,000, starting in tax year 2025.
  • You can use your primary residence to help pay for it. You can take advantage of the equity in your primary residence to make a down payment on a second home, either through a cash-out refinance or HELOC. It might be better to do a cash-out if you know exactly how much money you need, can get a lower interest rate on your first mortgage and don’t plan to pay that first mortgage off anytime soon.

Cons of second-home loans

  • It costs more. Generally, you can expect to have a higher mortgage rate on your second-home loan compared to the one on your primary residence, so you’ll pay more in interest over time. You might also have a higher rate if you decide to refinance your second-home mortgage down the line. Along with that, you’ll need to make a bigger down payment.
  • It can be harder to qualify for. Because the second home isn’t your primary residence, you’ll need to meet stricter credit and DTI ratio requirements.

How to get a second-home mortgage

  1. Get your finances in order

    Well before applying for a second-home loan, take steps to maintain or improve your credit score, as well as plan for a down payment. Lenders tend to give the best rates to borrowers with higher credit scores, lower debt-to-income ratios and higher down payments.

  2. Pay down debt

    Try to pay off or pay down debts before applying for a second-home mortgage. This will lower your debt-to-income (DTI) ratio, which impacts whether you qualify and your interest rate. Lenders will want to know the full extent of your obligations — home loans, car loans, student debt, medical debt, as well as credit cards and personal loans. 

  3. Compare rate quotes

    When you’re ready to look for properties, get interest rate quotes from at least three mortgage lenders. You can try a wide variety of lenders, including local banks, online lenders and credit unions. Consider the loan’s APR, or annual percentage rate, which reflects both the interest rate and lender fees and points. What’s more, read customer reviews and see if the lender has won any awards for customer service.

  4. Complete the application and close

    Rate-shop with at least three different banks, credit unions and mortgage companies to get the best deal.

Frequently asked questions

Next steps to get a second-home mortgage

How to buy a second home

Get clear on how you want to use the property. Will it be a vacation home for your family or an investment property?

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Should you buy a second home?

Buying a second home will effectively double your housing expenses, so consider your overall financial picture.

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Can you use home equity to buy another house?

The most common ways to tap your equity are via a home equity loan or home equity line of credit (HELOC).

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Latest second home articles

Explore more resources for second home shoppers

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Meet our Bankrate experts

Andrew Dehan
Written by
Andrew Dehan Andrew Dehan Arrow Right Icon
Former Senior Writer, Home Lending
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Andrew Dehan is a former Bankrate housing reporter. He's taken the NMLS Loan Originator education classes and passed the MLO SAFE test. Besides Bankrate, his work has been published by Rocket Mortgage, Forbes Advisor and Business Insider. He’s also a poet, musician and nature-lover. He lives in metro Detroit with his wife and children.
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Expertise
  • Mortgages
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Amelia Buckley
Edited by
Amelia Buckley
Former Senior editor
Thomas Brock, CFA, CPA
Reviewed by
Thomas Brock, CFA, CPA
Expert Reviewer

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