What are the rates for investment property? Are they higher than the rates for a primary residence? Looking in IA

Rates on investment properties are a little bit higher than the rates on owner occupied properties. How much higher depends on a few factors, like program, down payment, credit scores, etc. You can expect about .375% to .500% higher in most cases. For investment loans in MN, WI, and SD, visit me at www.MortgagesUnlimited.biz

Yes.. they are higher, but how much higher depends on many things.. so it's impossible to quote you without looking at your complete loan scenario.. Credit scores, loan to value, property type (SFH, Condo, MFH, Townhouse, etc).. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Yes higher, but with a larger downpayment than required (25% or more) the difference is less.