Conventional loan for an investment property

[James Dale]

Hello everyone,

I am about to close on my first property! We are very excited but I do have some questions for my next purchase. My lender ran this loan as a DSCR and my rate came back at 9.5! I was under the impression I could use a conventional loan with a lower rate on an investment property but the lender states that loans like this are hard to get since they are not your primary residence. I swear I've read about many of you using conventional loans to a certain point and then switching to DSCR due to limitations. Am I wrong? Any information you guys have for me is greatly appreciated!

Thank you

[James Dale]

Quote from @Mason Weiss:

Hey James, I would contact a lender in your market through BP and get a second opinion. There are many factors in qualifying for these loans and you should seek out multiple opinions if you are not content with your initial contact. 

I will look into this. Thank you for your prompt response.