Mortgage Interest Rates Higher for Rental Properties?
Hello Everyone,
I am in the process of educating myself before I purchase my first few rental properties. I have heard that the mortgage rates for a 15 or 30 year loan are a little bit higher than if you were to get a mortgage on a primary residence. For instance primary residence mortgage 30 year might be 3.5% but for a 30 year on a rental might be 4%.
Is this true? If so where can I find out what rental mortgage interest rates are in my area? I tried checking some bank sites online but didnt see anything about interest rates for rental or investment properties.