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Jumbo Mortgages - Owner Occupied vs. Rental

Started by aptmnthunter
about 13 years ago
Posts: 4
Member since: Sep 2011
Discussion about
Wondering what the current rates are on jumbo loans (say $2.5mm condo purchase price with 50% down / 50% financed) on both owner occupied property vs. if condo is designated as a rental unit. Is this a 50bps difference or more like 1.0-1.5% higher for the rental?
Response by caonima
about 13 years ago
Posts: 815
Member since: Apr 2010

just tell them it's primary

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Response by streetsmart
about 13 years ago
Posts: 883
Member since: Apr 2009

not much higher for investment property.

Ellen Silverman
esfundingco@aol.com
www.esfunding.instantlender.com

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Response by MortgageMan787
about 13 years ago
Posts: 96
Member since: May 2008

Should not be more than .50% higher. They may also charge up to .50% as a fee as well.

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