Lender has to know it is my primary or investment property?

[Marc Dufour]

I am looking at the refi rates...and as you know investment properties are expensive to refinance. But....just a thought....is it possible to simple tell the bank it is my primary residence even though it is a rental property? how would they know???

[Kimberly T.]

Sure, it's possible to tell them that, I suppose. But don't be surprised when they:

1) Don't believe you because all your supporting docs will show your real primary residence on them.

or

2) Do believe you, then find out you lied and slap you with mortgage fraud.

It will not end well.