Buying a Vacation Home in Washington

WPointless Jones Island Aug 2014ashington State has so many great areas for folks to vacation in.  From the deserts in eastern Washington, rugged mountains, the Pacific coastline or the San Juan Islands; I think our state pretty much has it all to offer. It’s no wonder I’m seeing more clients taking advantage of lower home prices and interest rates to buy a second home.

Mortgage rates are essentially the same for a second home as they would be for a primary residence.  Here are some requirements lenders have for financing an vacation (or second) home:

  • second home property is located a reasonable distance from the borrower’s primary residence. The rough guideline for “reasonable distance” is 50 miles or more.
  • suitable for year-round occupancy
  • borrower must occupy the property for some portion of the year
  • borrower must have exclusive control over the property
  • borrower must not enter into any rental agreements that require the property to be rented or give a management firm control over the property.

If your second home does not meet the above guidelines, it may be treated as an investment property, which has higher mortgage rates and different guidelines.

If you’ve been dreaming of owning a vacation home in Chelan, Walla Walla, Mount Baker or Hoods Canal, this could be a great opportunity!

If you would like me to provide a rate quote for a vacation home located anywhere in Washington state, click here.


  1. Can you please let me know if there are any restrictions if the 2nd home happens to be a Condo in FL.

  2. Hi Donnie, I only lend on homes located in Washington so I cannot answer your question about the condo in Fl.

Please leave a reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.