Yes, expect a higher rate on a second home than on a primary residence, and the gap is wider than it used to be. Second-home loans under Fannie and Freddie once priced close to owner-occupied loans, with a 10% minimum down payment, because the credit risk was seen as similar. Pricing changes directed by the FHFA in 2022 ended that: second homes now carry loan-level price adjustments that put them much closer to investment-property pricing, though investment properties still price higher. A few practical angles: - Down payment helps. The minimum is still 10% down, and pricing generally improves as you put more down. The adjustments get revised over time, so have a lender price your actual scenario rather than working from a rule of thumb. - Shop portfolio lenders. Local banks, credit unions, and brokers with portfolio products sometimes treat a true second home better than standard agency pricing, though generally still worse than a primary. - Run the full math. For a place you would only visit occasionally, compare the total carrying cost against simply paying for somewhere nice to stay when you are in town. The pricier financing is one piece of a bigger equation worth doing before you fall in love with the idea. Happy to run the real numbers with you either way.