Rental Loan vs. Conventional Loan

[Paul S.]

I read that a loan for rental property is about 0.5% higher than an owner occupied conventional loan. So if a property cost $150k, with 10% down, the monthly payment would be $684 at 4.5%. At 5% it is $724. That's $40 a month more.

Does this impact an investors decision to try and get an owner occupied home loan first and live in it for 1 year and later rent it out and move to another house. This doesn't mean that the person will move from the initial property, but has the option to move and purchase another home to live in.