Pacaso Launches Innovative 30-Year Mortgage for Vacation Home Co-Ownership

SAN FRANCISCO, Sept. 16, 2025 /PRNewswire/ — Pacaso has introduced the first 30-year mortgage designed specifically for co-ownership of vacation homes in the U.S. This new financing product enables qualified buyers and existing Pacaso owners to standardize their financing process, making it easier to purchase second homes.

The mortgage, which is backed by a $100 million credit facility from Texas Capital, provides a simplified closing process. Austin Allison, Pacaso’s co-founder and CEO, emphasized the evolution of second-home ownership, stating, “People are buying together, and they expect financing that matches that expectation with clarity and flexibility.”

Pacaso collaborated closely with Texas Capital to develop this bespoke financing solution, designed to support modern co-ownership structures. Unlike traditional loans that cater only to individual buyers, the new mortgage allows multiple buyers to be listed as co-borrowers, aligning with their ownership interests.

Additional features include an interest-only payment period of up to five years, designed to lower the initial cost of the mortgage. By consolidating co-borrowers under a single loan origination, the process eliminates complicated legal agreements typically required in co-ownership.

A recent survey conducted by Pacaso in July 2025 revealed that securing financing is a major barrier for those looking to buy vacation homes. Among potential co-owners, 74% indicated that flexible financing would encourage them to pursue shared ownership options.

Pacaso plans to make this financing available in various U.S. markets by the fourth quarter of 2025. Loan origination will be handled by a third party, while the loans are anticipated to be sold to institutional investors.

“This facility strengthens our capacity to offer a user-friendly financing solution tailored for modern homeowners,” added Sam Palazzolo, Vice President and Head of Capital Markets at Pacaso.