New Hampshire Seasonal Home Financing: What Lenders Want to Know

New Hampshire Seasonal Home Financing: What Lenders Want to Know

Lake Winnipesaukee and Lake Sunapee attract buyers who treat them as second homes or seasonal investments. But seasonal homes face different lending rules than primary residences.

Why Seasonal Homes Are Harder to Finance

1. Lower occupancy: Part-time use reduces value perception and increases default risk
2. Maintenance issues: Seasonal wear can be deferred; property condition is riskier
3. Resale uncertainty: Seasonal markets can soften quickly
4. Borrower priority: Some lenders worry seasonal homes are less important than primary residences

What National Lenders Typically Require

• Higher credit scores (740+ instead of 680+)
• Higher down payments (25–30% instead of 20%)
• More reserves (higher savings balances)
• Owner-occupancy confirmation (not investment/rental)

What Portfolio Lenders Often Allow

• 700+ credit acceptable (not always 740+)
• 20% down (instead of 25%)
• Flexible reserves depending on equity
• Investment/rental option (more flexible occupancy rules)

New Hampshire Tip

If you’re financing a Lake Region seasonal home, start with portfolio lenders who understand the market. They often beat national jumbo rates and close faster because they handle seasonal property guidelines better.

Don’t assume you’ll need pristine credit and 30% down—portfolio lenders are often more flexible than you’d expect.