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MSeid
LIF Adolescent
Member since 11/05 805 total posts
Name:
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Investment properties
Does anyone know if mortgage rates for investment properties (vacation rentals) are much higher than for year round occupants?
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Posted 9/9/07 5:53 PM  |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Investment properties
yes- they are higher- not sure how much
I can ask DH when he comes home
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| Posted 9/9/07 7:04 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Investment properties
Our condo is listed as a second residence and it was not higher.
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| Posted 9/9/07 8:36 PM |
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MSeid
LIF Adolescent
Member since 11/05 805 total posts
Name:
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Re: Investment properties
Posted by Blu-ize
Our condo is listed as a second residence and it was not higher.
But do you rent out the condo? And do you have to disclose that info upon purchasing?
Thanks
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| Posted 9/9/07 8:44 PM |
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MSeid
LIF Adolescent
Member since 11/05 805 total posts
Name:
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Re: Investment properties
Posted by Beth1210
yes- they are higher- not sure how much
I can ask DH when he comes home
THANKS!
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| Posted 9/9/07 8:45 PM |
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DRMom
Two in Blue
Member since 5/05 20223 total posts
Name:
Melissa
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Re: Investment properties
Non owner occupied homes have higher interest rates on the loans...Probably by about 1 point
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| Posted 9/10/07 10:52 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Investment properties
we are renting it now since mom and dad were living it it. The rent will be in cash and it will still be listed as a second residence.
The key is not listing it as a rental or investment property but as a second home.
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| Posted 9/10/07 11:31 AM |
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MSeid
LIF Adolescent
Member since 11/05 805 total posts
Name:
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Re: Investment properties
There seems to be more hurdles involved with buying second homes for investment/vacation rental purposes. I need to research a bit more.
Thanks for your help girls. Any other input is appreciated.
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| Posted 9/10/07 11:49 AM |
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