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Private Lending & Conventional Mortgage Advice

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Heather Donahue
  • Long Island, NY
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New Pro Member and mortgage question

Heather Donahue
  • Long Island, NY
Posted Nov 24 2018, 06:43

I am a new Pro Member but joined Bigger Pockets several months ago. I went into contract for an out of state investment on a SFR. I am taking a 30 year fixed mortgage out and the rates on an investment loan are higher than a conventional loan and I need to pay points to reduce the rate. Do I need to take out an investment loan or can I take a conventional mortgage? Are there any recommendations on where to get a conventional loan. The property is located in PA. Thank you.

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