Investment Property Funding Info needed

[Jennifer Salazar]

Hey everyone-

I currently have 2 rentals that were conventional loans(since I lived in them for a year). I am working on my first deal using an "investment property loan". I have an accepted offer on a condo and I received paperwork showing this will be an ARM loan. Is this the standard with an investment property? I asked if there is a fixed rate offered, and was told that there is...but the rate is much higher. I am used to the standard 30 year fixed..so this "ARM" came as a surprise to me. Any advice would be appreciated. I am interested to know what terms some of my bigger pockets friends have for their loans...

Thanks!