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Buying a Rental Property

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Biffman49
Member

Buying a Rental Property

Hi all,

 

My wife and I are looking at buying a house to rent out. I'm trying to get an idea of what sort of rates to expect, as I know they are generally higher than when you get a mortgage on a house you plan to live in. 

 

Additionally, my credit is not as good as hers (I'm around 675, she's around 750), so I'm trying to get a feel for how that might affect rates, terms. Any thoughts? Appreciate any help. Thanks!

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ezdriver
Senior Contributor

Re: Buying a Rental Property

Mortgage rates on 2nd homes, especially investment properties, are much higher. The only way to know for sure is to check with a lender. Maybe one of the mortgage originators in this forum will chime in.

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