Lakeway Mortgage Broker: Second Homes, Jumbo Loans and Lake Travis Property
Lakeway homes generally trade between $600,000 and $1 million, with a deep inventory above that on the golf courses and the water. It is a city on the south shore of Lake Travis, about half an hour west of downtown Austin, and many homes here fall in the jumbo bracket.
Lakeway also draws a type of buyer that most Austin neighborhoods see rarely: someone buying a second home. How a property is classified — primary residence, second home or investment — changes the down payment, the pricing and what you are allowed to do with the property. It is the first thing to get right.
Buying or refinancing in Lakeway? We shop your file across a panel of wholesale lenders.
Primary, second home or investment
Lenders classify every purchase by how you will use it, and you certify that use at closing.
Primary residence. You live in the home as your principal residence, usually within a set period after closing and for at least a year. Lowest down payments and best pricing.
Second home. A one-unit property you occupy for part of the year, that is suitable for year-round use and that you control. Down payments and pricing sit between a primary residence and an investment.
Investment property. A property bought to rent. Highest down payments and pricing, but rental income can count.
The second-home rules that trip people up
You must have exclusive control. A property subject to a rental pool, or a management agreement that gives someone else control over occupancy, does not qualify as a second home.
Occasional rental is not the purpose. A second home can be rented from time to time, but the rental income generally cannot be used to qualify, and the property cannot be operated primarily as a rental.
The location has to make sense. The lender must be satisfied the property genuinely serves as a second home. A Lakeway home for a buyer whose primary residence is across town in central Austin can draw more questions than one for a buyer from Dallas or Houston.
Pricing differs. Second-home loans carry pricing adjustments that primary-residence loans do not, so compare the real cost, not just the headline rate.
Misrepresenting occupancy is mortgage fraud. If you intend to rent the home most of the year, finance it as an investment. A DSCR loan qualifies on the property's rent instead of your income.
Jumbo financing in Lakeway
Any loan above the $832,750 conforming limit is a jumbo loan, and golf-course and lake-view homes in Lakeway often are.
Reserves scale with the loan and with how many properties you own. A buyer adding Lakeway as a second or third property needs reserves for all of them, not just the new one.
Second-home jumbo programs exist, but with fewer lenders and tighter terms than primary-residence jumbo loans. Shopping across several lenders matters more here than almost anywhere.
Appraisals rely on similar homes. A waterfront or golf-frontage home needs comparable sales with the same feature, and there are fewer of them. Expect appraisers to reach further in time or distance for support.
Waterfront and lake-view property
Lake Travis is a flood-control reservoir, and its level swings dramatically — from drought lows to near full within days, as it did in July 2025.
Flood zones. Low-lying lakefront lots can fall within a mapped flood hazard area, requiring flood insurance on a federally backed loan. Check the elevation certificate and the flood map for the specific lot.
Docks and shoreline structures are governed by permits and rules separate from the house. Our Lago Vista page covers docks and lake-level issues in more depth.
Taxes in Lakeway
A typical Lakeway address carries the City of Lakeway, Travis County and Lake Travis ISD rates, along with any other districts on the parcel. The combined total is generally in the range of other Austin-area cities, but the mix is different from a City of Austin address.
A second home is not a homestead. Only your primary residence receives the homestead exemption and the 10% annual cap on increases. Budget a second home's taxes on its full assessed value.
Verify the parcel with the Travis Central Appraisal District.
Where people buy
The golf-course neighborhoods around Lakeway's courses carry many of the jumbo-bracket homes, with fairway frontage and Hill Country views.
The waterfront and lake-view streets along the coves and Lakeway's peninsulas carry the highest prices and the most limited inventory.
The older central sections near the city's original development hold 1970s and 1980s homes at lower prices, many updated.
Newer subdivisions toward the city's edges and along RM 620 carry more recent construction and townhomes.
Nearby Steiner Ranch lies across the lake on the Lake Austin side, and Lago Vista sits on the north shore of Lake Travis.
The city
Lakeway began as a resort and residential development on the south shore of Lake Travis in the 1960s and was incorporated as a city in 1974. The Lakeway Resort and Spa still sits on the water near the city's center.
The city is known for its golf courses, its marina, and the Lakeway Airpark, a residential airpark where some homes have their own hangars. Deer roam freely through its neighborhoods, and the city's parks and trails run along Hurst Creek and the lake.
Not sure which fits? Compare every loan program we place, or read our jumbo loan guide.
Frequently asked questions
Can I finance a Lakeway home as a second home? If it is a one-unit property you will occupy part of the year, that is suitable for year-round use and that you control. A property in a rental pool or under a management agreement that controls occupancy does not qualify.
Can I rent out my second home? Occasionally, but it cannot be operated primarily as a rental, and the rental income generally cannot be used to qualify. If you plan to rent it most of the year, finance it as an investment property.
Is a second-home mortgage more expensive than a primary residence? Generally yes. Second-home loans carry pricing adjustments that primary-residence loans do not, and require larger down payments.
Do I need flood insurance on Lake Travis? Only if the lot is in a mapped special flood hazard area, which some low-lying lakefront lots are. Check the flood map and elevation certificate for the specific property.
Does a Lakeway second home get a homestead exemption? No. Only your primary residence receives the homestead exemption.
What are property taxes in Lakeway? A typical address carries City of Lakeway, Travis County and Lake Travis ISD rates plus any other districts on the parcel. Verify with the Travis Central Appraisal District.
Decide how you will use it, then finance it that way
In Lakeway, the occupancy decision shapes everything after it. Tell us how you plan to use the property, and we will match it to the right loan and the lenders that do it well.
Start your application · Run the numbers · Call 737-347-1314
Looking at a property in Lakeway?
Send us the address and we will model the real payment — taxes, insurance and HOA included — before you write an offer.
Nearby Areas
Nearby & Related