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Updated almost 7 years ago,
Primary Residence loan and Second home loan
Hello,
Say I buy my first home and after 2 years I decide to move out and rent it and buy myself a second home which will be my primary residence.
My questions are the following regarding the scenario mention above.
1. Can I still keep the same home loan interest rate on my first home even if I rent the home or will the interest rate go up and be consider an investment property home?
2. On the second home I purchase that will be my primary residence what would be the lowest percentage I can put as down payment and will the home loan interest rate be the same rate as my first home if not how much more will the interest rate be?
Thanks,
Horacio