Mortgage Blog

We just learned from someone who got a letter
from the bank that they lender will charge them fraud to finance a
property as 2nd home when it is a real rental.

Though the rental rate is higher than 2nd home.
We still need to qualify it as rental unless
it's indeed a second home. And even though the home
is occupied by your parents or relative,
and if does not meet the defition of the 2nd
home, it's a rental.