Good to place to get another mortgage for a second home?

Find a good mortgage broker and let them shop the loan for you. Also, stop using terms like "second home" and "second mortgage." If you are looking for a new home and seeking financing for it, just tell the mortgage broker/lender that you want to seek financing for an upcoming purchase. Let them ask you what you plan on doing with the condo and the existing mortgage on it. If you can cash flow both, no problem.

Penfed was hell but I got through it without closing cost. I actually had to repair part of a roof and paint the siding since the arshole appraiser wrote a conditional appraisal. Pretty much a scam to get them another $100 fee or so to come out to clear the conditions. Was strange fixing it on someone else place but what the hey at least pen fed paid for the second visit and not me. A good appraiser would have just said $500 to cure or whatever, was a joke.

The term 'second mortgage' is usually used to refer to having 2 mortgages on one property with the first /primary mortgage and then an additional 2nd mortgage.

If you want to keep your current property and rent it out and then buy a second property the lenders will generally require you to qualify to carry (afford) both mortgages with your regular income. If the first house is not rented out yet then they generally won't let you count the rent as income.

First time Suntrust with a local agent. Second time a broker sold it to US Bank after a month. Broker came to my house for closing.