Updated about 1 year ago on . Most recent reply
New home - how to get lower interest rate incentive?
Hey everyone, a new development in the area where I invest, is offering a 5.99% interest rate (conventional loan) and 2% of purchase price in closing costs. Did my rental analysis and it would work fine as a long term rental. The agent just let me know that they cannot offer these rates for investment properties. Are there any ways to get around this? Can I buy it as a vacation rental to get the better interest rate? If so, do I need to hold it for a period of time before I can rent it out? Please let me know if anyone has any thoughts/input. Thanks in advance!