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are mortgage rates better for investment property versus second home in San Diego

i am looking for a loan in the $200K-$250K range. me and my wife have excellent credit 760+ and want to get an investment property or 2nd hme by sdchargersmat398314 from San Diego, California. May 21st 2015 Reply


George Kulcsar (gkulcsar)
#357 ranked lender in California - 8 contributions

Rates and down payments are always lower on second homes then investment properties because of the risk to banks. I can go over both options for you if you give me a call to see what works out best for you. Thanks.George KulcsarLoanSimple562-335-82472

May 21st 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

Nope.. in fact they are higher.. Investment properties represent a greater risk for the lender and they price these loans accordingly.. For this reason, lenders require you declare how you intend to occupy this property or what your intended use is.. technically, if you intend to rent the property for 1 day a year, then it's an investment, and you must disclose that.. Rates and terms will always be better for a 2nd home.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

May 21st 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

No, the interest rate will be higher on an investment property. If you are trying to decide if you are going to do an investment property or a 2nd home, stay with the honest approach. If you know it will be an investment then that is the direction you should go, if you plan on keeping the home as a 2nd home that you visit on vacation or seasonal and don't plan on using as a rental then do it as a 2nd home loan. Best wishes, Sean

May 25th 2015
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