Buying a second property can be an exciting financial move. But before you start shopping for that perfect property, it’s important to understand that not all second‑home mortgages are created equal. Two of the most common financing options are vacation home loans and investment property loans — and while they may sound similar, they come with very different rules, mortgage rates, and qualification requirements. This guide breaks down everything you need to know about vacation home loans vs. investment property loans so you can choose the right financing for your goals.