Can Second Home be use as Rental Property (AirBNB, VRBO etc)?

[Amit Desai]

Hi,

I need some clarification on how does second home loan and investment/vacation rental loan work, because I have seen that mortgage rate for second home and vacation/investment property are different.

1) What should I choose because my goal is to make it short term rental property to get some passive income?

2) Is there a way to get lower mortgage rate for rental property?

Any inputs/recommendation appreciate it!

Thanks