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Investment property mortgage rate is too high?

Started by buyahome
over 14 years ago
Posts: 2
Member since: Mar 2012
Discussion about
I am about to buy an investment property. I own a home in Hoboken NJ, but work in Manhattan. A broker told me it could be seen as a home cuz I am working in Manhattan, so my property mortgage rate will be lower...I don't really believe it since I have to rent it out... I don't know how it works. Also, if it is an investment property, Citibank told me that my mortgage rate will be 5.0%~5.25%. does anyone have better rate? Thanks!
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