Mortgage Blog

2nd Loan vs rental

August 17th, 2010 10:28 AM by Eric Fang

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.

Posted in:General
Posted by Eric Fang on August 17th, 2010 10:28 AM



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