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Ark Mortgage Inc, NMLS# 103915

Ark Mortgage Inc, NMLS# 103915

Mortgage Advisors & Lending Services in New York & New Jersey

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Buying a Vacation Home

Calculate Your Budget For Your Home Away From Home

A vacation home of your own can be a great way to unplug and unwind. It can also be a smart investment if it fits into your planning and is financed properly.

Ark Mortgage can turn your dreams of a second home into reality by providing you with the perfect loan. We understand the specifics of second home funding and how it differs from that of primary residence or investment property funding. And since we are mortgage lenders, we are with you through the entire process.

How much vacation home can I afford?

Because you are looking to take on a vacation property in addition to your current home, the interest rate may be higher than for your primary residence. Fill this calculator with the best estimates of your income and expenses and we will determine your maximum monthly housing payment and the resulting mortgage amount.

Home Affordability Mortgage Calculator

Loan Information

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FAQs

What is considered a “second home”?

A second home is a house, condominium, or townhouse that you intend to live in yourself for part of the year, in addition to your primary residence. Usually, second homes are used as a vacation home, but can also be an apartment close to your workplace.

What’s the difference between a second home and an investment property?

It’s important to know because this difference affects the type of mortgage you need. A “second home” is a house, condominium, or townhouse that you yourself intend to live in for part of the year, in addition to your primary residence. Usually, second homes are used as a vacation home. With a “second home loan,” you need to qualify for both your first home and your second home without consideration for potential rental income.

An “investment property” is a property that you are buying the property strictly to rent out for income. To determine if you qualify, your lender may need to know the rental history of the property. Typically, mortgages for investment properties carry a higher interest rate than is charged for second home loans.

Are there tax benefits to buying a second home?

The mortgage interest on your second home might be deductible on your taxes but there may be caps and limitations. Be sure to check with your tax professional for more information.

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Ark Mortgage, Inc. NMLS ID #103915

400 Rella Blvd, Suite 300 • Montebello, NY 10901 • (800) 247-4432

Serving California, Arizona, Colorado, Connecticut, Florida, New Jersey, New York,  Pennsylvania & Texas
For licensing information see our licensing page or visit the NMLS Consumer Access page.

For Texas consumers, learn how to file a complaint here. 

Equal Housing Opportunity

Rates, terms and programs are subject to change without notice. All loans are subject to appraisal and property condition requirements and underwriting approval. The information on this website does not represent an offer to enter into a loan agreement. Restrictions apply

Copyright © 2025 · Ark Mortgage, All Rights Reserved.

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