Second Home and Investment Property Loans
Every property serves a purpose, whether it’s a place to recharge or a way to build income. Our second home and investment property loans are built to reflect that, with flexible terms and a structure that supports your long-term goals.
These are portfolio loans, which means we keep and service them here at the bank rather than selling them to outside investors. That allows us to provide consistent support and locally managed terms, from application through payoff.
With our 30/15 loan structure, your monthly payments follow a 30-year schedule, while the full balance comes due after 15 years. This can be a helpful option if you expect to refinance, sell the property or pay off the loan before then, and we’ll be here to support you along the way.
Choose the Loan That Matches Your Property Goals
Whether you’re buying a second home or an investment property, we offer two loan options designed to support your goals. These loans are available for properties in Utah, Arizona, Colorado, Idaho and Nevada, with amounts ranging from $75,000 to $806,500.
Second Home Loan
For personal use by you or your family as a part-time residence
• Fixed interest rate
• 30-year amortization with balloon at 15 years
• Designed for vacation or seasonal homes
• Typically not intended for rental income
Investment Property Loan
For real estate you plan to rent and manage as an asset
• Fixed interest rate
• 30-year amortization with balloon at 15 years
• Available for 1–4 unit rental properties
• Ideal for generating rental income
How a 30/15 Loan Works
Our 30/15 mortgage loans are a type of balloon loan — a structure that offers steady monthly payments now, with flexibility built in for later.
With this type of loan, your payments are based on a 30-year amortization schedule, which helps keep them affordable and consistent. The difference is that the full remaining balance is due after 15 years. That’s called the “balloon.”
At the 15-year mark, most borrowers either:
- Refinance the loan
- Pay off the remaining balance
- Sell the property and use the proceeds to pay it off
This structure can be a great fit if you’re not planning to hold the loan for 30 years. It offers predictability up front, and options down the road — and we’re here to help you plan for both.
Our Experts Make the Process Easy
From your first conversation to your final payment, our team is here to make the mortgage process feel straightforward and personal. Because these are portfolio loans, your mortgage stays with us — and so does the relationship. Our experienced loan officers make decisions locally, offer clear guidance at every step, and ensure your loan terms are built to support your goals. It’s the kind of consistent, knowledgeable service Utah families and businesses have trusted since 1952.
Ready to talk with a loan officer?
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Looking for second home or investment property loans outside of our portfolio options?
We also offer conventional loan products for second homes and investment properties that may be a better fit for your goals. Explore conventional options here.
Frequently Asked Questions
What’s the difference between a second home and an investment property?
A second home is used by you or your family as a part-time residence and is typically not rented out for income.
An investment property, on the other hand, is purchased with the intent to rent it out regularly and generate income.
How you plan to use the property helps determine which loan option is the right fit.
What is a balloon payment, and when is it due?
A balloon payment is the final lump sum due at the end of the loan term. With a 30/15 loan, it’s due after 15 years. Until then, your monthly payments follow a 30-year schedule, keeping them more manageable.
What happens when the 15-year term ends?
At that point, most borrowers choose to refinance, pay off the remaining balance, or sell the property and use the proceeds to pay off the loan. We’re here to help you explore your options well before that point.
What are the credit or income requirements?
Like most mortgage loans, approval depends on your credit score, debt-to-income ratio and loan-to-value. Your loan officer will walk you through the specific qualifications.
Can I pay off the loan early?
Yes, you can pay off your 30/15 loan early. There are no prepayment penalties, so if you choose to make extra payments or pay off the balance before the 15-year mark, you’re free to do so.
