Home Financing Second Home in Florida

Second Home in Florida

Characteristics of the Property

For a property to be considered a second home, the future owner must reside in it at least 15 days per year. Occasional rental of the property is permitted.

Financing Products and Percentages Available for a Purchase

Mortgage Loan
Second home in Florida

For Palm Beach, Broward and Miami-Dade counties

  • Mortgage up to 80% for a single family home or townhouse
  • Mortgage up to 75% for a condo

For all other Florida counties

  • Mortgage up to 65%


Financing products and percentages available for re-financing

Mortgage Loan

  • Financing up to 70% for Palm Beach, Broward and Miami-Dade counties
  • Financing up to 65% for other Florida counties


Home Equity Line of Credit

  • Financing up to 70% for properties in Palm Beach, Broward and Miami-Dade counties
  • Financing up to 65% for other Florida counties

Mortgage Loan Conditions and Terms of Payment

  • Monthly payment principal and interest (daily rate)
    • Escrow account for mandatory taxes
    • Escrow account for mandatory taxes for home insurance (mandatory for single family homes)
  • Amortization calculated on 25 years
  • Early Repayment
    • No penalty for partial or total repayment on loans.
  • Interest rate
    • For current interest rates, please contact us