Multiple Second Homes

[Account Closed]

Hey all.  Question for you Mortgage experts out there.

I'm a FL resident, I live in my single house in FL, $500K market value without a sweat.

I own a house in Philly, PA, I pay mortgage on it.

I'm buying another home in Philly, PA, and applying for a mortgage.  This house is on the same street as the first house.

One genius mortgage company has jerked me around for 5 days and finally cracked open that because the new home in Philly is on the same street as the one which I already own, that this would not be a "second home", but an "investment property".  They started jargon dropping like Fannie Freddie, etc.  Then when I started to press them, these were now "guidelines".  So I told them to chill and that I'll be back once I got more knowledge on this subject.

So, is this kids playing games because they don't know what they're talking about, or in my situation, would this new property really be an "investment property" and NOT a "second home"?  An "investment property" jacks up the interest rate to the stratosphere, so that's the reason for the party.

Let me know what you guys think please.  In the meantime, I'm getting with my people and digging in.  Thanks!