Q: Why is it called a vacation home mortgage?
A: We call it a vacation home mortgage to eliminate the confusion between a second mortgage & home equity loan. If you want to purchase a second home, a vacation home mortgage may be exactly what you need. Call one of our loan experts at 1-866-878-2265 or contact us online to learn about vacation home mortgage rates.

Q: What's the difference between a second mortgage & home equity loan?
A: A second mortgage loan, in this case, refers to an additional mortgage for a second home - to purchase a vacation home, for example. So you end up with two mortgages and two homes. A home equity loan, on the other hand, allows the borrower to refinance their existing mortgage to get cash - or equity - out of their home. It's still just one mortgage, but it's been refinanced.

Q: Are interest-only vacation home mortgage rates available?
A: Yes! You can choose to pay a fixed, interest-only rate for a period of either 10 or 15 years with ENG's interest only vacation home mortgage. Contact one of our lenders to find out more about an interest-only vacation home mortgage.

Q: How much money can I be approved for with a second home mortgage?
A: Depending on your income and expenses, you may qualify for as much as $417,000 to $1,500,000. Some lenders are cautious about approving a vacation home mortgage. ENG Lending is committed to making your vacation home mortgage dreams come true.

Q: I am self employed - can I be approved for a second home mortgage loan?
A: Yes! ENG Lending offers a stated income vacation home mortgage (a.k.a. a no-doc loan) for those who don't earn a traditional paycheck. You could be approved for as much as $650,000! Call an ENG lender today at 1-866-878-2265 or contact us online to see if a vacation mortgage loan is right for you.