Posted on: 10th Mar, 2009 12:18 am
I was told that if it's an investment property, the 5/1 rate is as high as 6.25% whereas if it's your primary residence, it can be less than 5%!
Load amount is 380K (in CA)
Load amount is 380K (in CA)
Hi anandsethuraman
Yes, commercial mortgage rates are higher than the residential mortgage rates. As far as the rates are concerned, I would suggest you to contact few other lenders and check out the rates that they can offer you. This will give you an idea about the current market rates.
Thanks.
Yes, commercial mortgage rates are higher than the residential mortgage rates. As far as the rates are concerned, I would suggest you to contact few other lenders and check out the rates that they can offer you. This will give you an idea about the current market rates.
Thanks.
interest rates will always be lower for an owner-occupied home than for investment. investment properties are riskier to lend against than owner occupied. you, as an individual, are deemed to be more likely to protect the roof over your own head before the roof over someone else's head should hard times arise (or resume/continue - pick one).
