Any problem w getting rental property w residential mortgage

[Saman Jafari]

I have an accepted offer and shopping around to get the best interest rate. One of the lenders wanna give me residential mortgage interest rate though I told them it’s investment. Does that cause any problem down the road with Tax or insurance ?

[Dave Skow]

@Saman Jafari  can you  clarify ?  a residential mortgage rate  is the same as an investment  mortgage rate ....do you mean to say that you received a  primary  owner occupied  rate  from the lender   when you are  buying a rental  property ?  if so - you  should get this clarified  so that the loan isnt  messed  up as you get closer to closing   (  fyi - the pricing for a rental  property will be much higher than the  "owner occupied "  pricing )