Can someone refinance a second home?
I have a second home that my parents live in.
Answers | 1
July 15, 2015
You certainly can refinance a second home, and the pricing is essentially the same as a primary residence. One other factor is that Fannie Mae actually allows adult children to purchase/refinance homes for their elderly parents (presuming the parents' incomes are insufficient) as primary residences. Many lenders aren't aware of this option, unfortunately. It may not matter in your case whether you fall into the owner occupied or second home category, but the short answer is yes, you can refinance that home. If you have any other questions, I'd be glad to help. Thanks, Ted
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