Good afternoon, Tinnint:
Cash or financing is mainly what is required to buy a second home. If getting financing, you generally have to meet the criteria in the Trulia Blog "Can I get a home or am I stuck renting?" http://goo.gl/5RG3w
, you can probably qualify. Down payment on a second home can vary depending on your income, debts, credit profile, assets liabilities and relationships with financial institutions. We have seen 15% to 20% although depending on the price, whether or not you could declare this as your primary residence, or a few other factors, it could be less. If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. Id be pleased to provide that service. If you appreciate this answer, please give it a thumbs up, or if this was the most helpful answer, please say thanks with a best answer click.