Forgotten Your Password?

Need to Register?

Question Icon

Are mortgage rates lower or higher for secondary residences compared to primary residences?

I want to get a vacation home in Florida and want to know what mortgage rates I would be looking at by martucci_dave05364 from Boca Raton, Florida. Jun 17th 2015 Reply


Thomas Dasta (lendfm)
#32 ranked lender in Georgia - 42 contributions

How much do you plan on spending, down payment, credit score and type of property?

Jun 17th 2015
1
0
Joshua Lerette (FloridaFHAVALender)
#1 ranked lender in Florida - 46 contributions

The only way to answer this question is for you to answer a lot more questions that a lending professional would have for you. There are way too many factors to throw out a rate to you and anyone that does/can, is not telling you the truth and telling you a best case scenario. Is that really someone you WANT to work with? If you want a complimentary review of your scenario and some finance options feel free to reach out to me directly and I will be happy to assist you.

Jun 17th 2015
1
0
Thomas Dasta (lendfm)
#32 ranked lender in Georgia - 42 contributions

Give me a call at 678-571-7433 to discus. I will need more information to give you a proper answer.

Jun 17th 2015
1
0
Derick Condron (rightstartoregon)
#33 ranked lender in Oregon - 597 contributions

Second homes will have a slightly higher cost than primary residences. No where near investment property rates. You might not even see a difference the actual rate just the cost for that rate could be different between primary and second home.

Jun 17th 2015
1
0
William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

Typically, a 2nd home has a higher interest rate, but if the loan to value is below 60%, then the difference is insignificant. As far as what the rates would be.. you really need to contact a local mortgage professional and let him look at your complete loan scenario to be advise accurately. 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

Jun 17th 2015
1
0
Subscribe to our news feed.