Most buyers assume a vacation home works exactly like theirprimary residence: put down less than 20 percent, and mortgage insurance gets tacked onto the payment every month. In this episode of The Approval Advantage Podcast, 28-year mortgage veteran Mike Baltazar of Barrett Financial Group (the #1 mortgage broker by volume in the U.S. for 2025) breaks down an alternative-documentation second home program that allows just 10% down with no mortgage insurance at all — even above 80% loan-to-value.

You'll learn:

• Why most buyers assume a second home requiresthe same 20%-down-or-pay-MI math as their primary residence

• How this program allows up to 90% loan-to-valueon a second home with no mortgage insurance required

• Why pricing on this program is often better thanconventional financing, even without the MI factored in

• What documentation actually looks like — twoyears of W-2s or two years of tax returns, not the exotic paperwork buyers might expect from an "alt doc" label

• Why this matters most for buyers who don't wantto tie up a large lump sum of cash, or liquidate investments, to hit a bigger down payment

• What realtors in vacation, lake, and mountainmarkets should mention before a buyer assumes they need 20% down

Essential listening for realtors working resort andsecond-home markets, financial advisors whose clients are considering a vacation property, and any buyer who assumed a second home meant a bigger down payment and a mortgage insurance bill every month.

Learn more or connect with Mike directly atwww.MikeBaltazar.com

Topics: second home mortgage, vacation home loan, no PMI second home, no mortgage insurance loan, alt doc mortgage, 90% LTV second home, lake house financing, real estatefinancing 2026, Barrett Financial Group, Mike Baltazar