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Updated almost 7 years ago on . Most recent reply

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Jason Homa
  • New York, NY
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Conventional Mortgage rate SFH vs. multi family

Jason Homa
  • New York, NY
Posted

I'm looking for a conventional bank loan for a 2 Family home. The lender I'm working with says the rate is about 1% higher for the MF than a single family home.

It's throwing all my numbers out the window!

Have you had the same experience? I thought as long as it is 4 units or less, same rate would apply as a SFH

Thanks 

Most Popular Reply

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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
Replied

I'm not sure about a 1% difference between SFH's vs MFR's but I do know there is about a 1% difference in the interest rates between primary residence/owner-occupied properties and pure investment properties so that may be the issue.

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