Hi Andrea, Yes the rates are different for a vacation home. They are a little higher but not too much. I have found that the rates run about 1- 1.5 percentages higher for a vacation home. I have clients that are paying 6 to 6.25 for their second home. Hope that helps!

Yes. Lending for non-owner occupied homes carries different mortgage requirements and approval guidelines. Speak to a couple larger, reputable lending institutions to see what you qualify for

Andrea. Very good question. I see that you are in Utah. You might need to check with a mortgage broker in Utah as the laws from state to state can vary. GENERALLY speaking, there may be some additional down payment requirements and generally the interest rate may vary with a second home purchase as opposed to an owner occupied home. Hope this helps.