Explore Maine properties<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n Your intended use sets your loan. Before you tour a single cottage, decide whether the home is for your own family\u2019s use or for rental income. Lenders sort these into different products with different terms.<\/p>\n For a second home, Fannie Mae\u2019s occupancy standards say the property must be a one-unit dwelling suitable for year-round occupancy<\/a>, occupied by you for some part of the year, under your exclusive control, and not subject to an agreement that gives a management company control over occupancy.<\/p>\n An investment property is different. One Maine lender says that for a one-unit investment property, the typical minimum down payment starts around 15%, with a maximum 85% loan-to-value<\/a>. It also expects higher reserves and a higher rate than a primary home.<\/p>\n If you plan to rent the place full-time, you are in investor territory. If you will use it yourself and rent only occasionally, you may still qualify as a second home, as covered below.<\/p>\n For a personally used second home, the general program minimum is 10% down on a one-unit purchase<\/a>. Eligibility still depends on the building, your credit, and your reserves. Lenders also say you should expect 10% down on a conventional loan and 20% on a jumbo<\/a>.<\/p>\n Here is what that looks like on a few prices:<\/p>\nTL;DR<\/h2>\n
\n
Table of Contents<\/h2>\n
\n
Second home or investment property: decide first<\/h2>\n
![\"Second](\"https:\/\/realtormaine.net\/blog\/wp-content\/uploads\/2026\/11\/1794051264545_Second-home-or-investment-property-decide-first.jpeg\")
<\/p>\nDown payment, reserves and closing costs<\/h2>\n
Down payment<\/h3>\n
![\"Closing](\"https:\/\/realtormaine.net\/blog\/wp-content\/uploads\/2026\/11\/1794051296750_Closing-cost-range-for-a-four-hundred-thousand-dollar-camp.jpeg\")
<\/p>\n![\"RealtorMaine\"](\"https:\/\/realtormaine.net\/blog\/wp-content\/uploads\/2026\/08\/1788094251885_realtormaine.jpg\")
<\/p>\n