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All Forum Posts by: Wesley Quoc

Wesley Quoc has started 1 posts and replied 2 times.

Buying & Selling Real Estate

Post: Using secondary home mortgage for a rental property

Wesley QuocPosted
  • New to Real Estate
  • Phoenix, AZ
  • Posts 2
  • Votes 0

Thanks guys, I thought it was weird that she said I could do that. So I will just go with the investment loan instead just to be safe 

0 Votes
Buying & Selling Real Estate

Post: Using secondary home mortgage for a rental property

Wesley QuocPosted
  • New to Real Estate
  • Phoenix, AZ
  • Posts 2
  • Votes 0

Good morning everyone. I'm currently in the process of buy my first property to put out for rent. I have been pre-approved for an investment property loan at a 4.25% interest rate, but after talking to another broker, she told me that I should go with a second home mortgage instead of an investment loan because the rate for that is only 3.35%. I thought you can't use secondary home mortgage for rentals? Am I wrong? She assured me that as long as I don't put it out for rent right away and just live there for 1 month and everything will be fine?

Any input is truly appreciated. 

Thanks

0 Votes