It depends on several things.
Will this be a new primary residence or is it a true 2nd or vacation home?
If it's a new primary, the answer will depend on the loan program and the lender due to overlays.
The guidelines for FHA, VA, Fannie Mae & Freddie Mac are all different when comes to the requirements for buying a new primary where you convert the current primary to a rental.
If it's a true 2nd or vacation home you'll be looking at either a Fannie Mae or Freddie Mac loan. The requirements will vary depending on your credit score and how much money you're putting down.
I would be happy to go over all of your options and answer all of your questions so you can make an informed decisions.
Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.
Please feel free to contact me for more information or help.
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank