Conventional Loan Interest Rates on Investment Properties

[Alex Casperson]

Hey Everyone,

I'm looking for some info on the difference in interest rates between an investment property and a primary residence for a 30-year fixed conventional loan. I am going out to speak to lenders this week but am trying to make my analyses as accurate as possible in the mean-time.

I am investing in Massachusetts, looking for single families or small multis (2-4 units). In MA currently, average 30-year fixed rates are right around 2.9%. So for property analysis purposes, I've been using 3.5%. Do rates differ that much between primary and investment properties? Should I be using 4%?

I know that the best way to get an answer is to speak to lenders which I will be doing later this week but just wanted to see if anyone had some quick insight I could use until then. Thanks in advance everyone!!