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FM/FM charge additional fees (up-front) for additional properties, but there is no "higher interest rate" for subsequent mortgages. You qualify for whatever you
by pc86 4y ago
FM/FM charge additional fees (up-front) for additional properties, but there is no "higher interest rate" for subsequent mortgages. You qualify for whatever you qualify for.
Now if you're buying it as an investment property, depending on your down payment, that may increase your interest rate.
- mrep 4y agoI think the effect is the same: https://www.nahb.org/blog/2022/01/fhfa-to-impose-hefty-upfront-fees-on-second-home-purchases/#:~:text=Also%20effective%20on%20April%201,loan%2Dto%2Dvalue%20ratio https://www.nahb.org/blog/2022/01/fhfa-to-impose-hefty-upfro....