No, it is not harder but most lenders do not like to do seconds mortgages without refinancing the first because they don’t make a lot of money on them. If you go to a good mortgage broker(my friend) He will be able to get one done without to many hassles.

it is a little harder. banks consider 2nd mortgages and 2nd homes a higher risk. However, you should be able to find financing.

Agreeing with CT (since the other two didn’t read the question), a mortgage on a second home is a little more difficult, in that loans for houses that are not your primary residence usually charge a higher interest, if you can show you have the income to make the payments, most lenders will gladly give you the money. In addition to the higher rate, many lenders will also require a down payment on a second home.

No, it is not harder. As long as you have equity in the home, a second is no harder to qualify for than a first. If on the other hand you are pushing the value of the home, it will be scrutinized more and you will pay a higher interest rate. Most lenders do not like to do seconds without refinancing the first because they don’t make a lot of money on them. If you go to a good mortgage broker, they will be able to get one done without to many hassles.

if you have some equity in the house why not just refinance your first mortgage and take you extra money instead of a second? you will have a lower interest rate and only 1 bill to pay.

Depends on the purpose of the purchase - rental income or second home, and your income to pay it back. If you have a mortgage and pay it ontime, they may be more inclined to give you another one, provided you can show proof you can pay for it.