For standard programs the lender's zip code barely matters, but a second home is the one case where local portfolio lenders are worth a call. Conventional, FHA, and VA loans follow national guidelines and price about the same whether the lender is around the corner or across the country. Second homes are the exception. Under Fannie Mae and Freddie Mac's loan-level price adjustments (LLPAs), a second home is priced much closer to an investment property than to a primary residence, which pushes the rate up. Lenders who keep loans on their own books instead of selling to the agencies (community banks, credit unions, portfolio lenders) aren't bound by that agency pricing, and in a specific area they sometimes carry a second-home program that beats standard agency pricing by a meaningful margin. Confirm the current LLPA treatment and any local program's terms, since both change. So for a second home, call a couple of community banks and credit unions in the area where you're buying, alongside a lender who shops broadly. A nationwide network won't always see every regional program. If it helps, we'll run your second-home scenario in the free Roadmap conversation (about 20 minutes) and compare the agency route against what a portfolio lender might do.