Are mortgage rates for second home usually higher? I never owned a home and i want to buy a condo to take advantage of tax credit. But 3 years from now i want to buy a bigger house. will my second mortage be higer than market value
No, at the time you are ready to buy a larger home it will be your primary home not a second home so you will get the same rate as anyone else who is buying a home as their primary residence.
Mortgage rates for second home?
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Ours was about 1/2% higher, and we had to put 20% down
References :
No, at the time you are ready to buy a larger home it will be your primary home not a second home so you will get the same rate as anyone else who is buying a home as their primary residence.
References :
I’m a mortgage banker/broker