How should I finance a 2nd home @ the shore?

[puznik11]

I want to buy a 2nd home at the shore, and am trying to think of the best way to finance it's purchase. The price for the 2nd home is $300K & I have $20K in hand for a downpayment (but that's not even 10% down!).
My current residence is appraised at $400K. Currently, I still owe $150K on my fixed, 15-year mortgage (10 years left til paid off). The rate on that mortgage is 4.625%, which is unheard of & likely to not be approached any time soon.
Any thoughts on how I can finance the purchase of the 2nd home without throwing myself into a precarious situation?
Many thanks,
Puznik

[golferwhoworks]

just get a small second on your owner occupied home to have the full down payment in hand but know this the money must be sourced so your payment will be in your debt ratio

[Brent]

With the current economy, I wouldn't buy a second house unless I was getting a great deal.  I wouldn't risk my first home by borrowing against it for a second home.  That doesn't seem like a good option.