Financing in 95116>Question Details

Kim, Home Owner in 95116

my rental lease is due in june, 2012. I'm not renting it out anymore and I want to convert it to my secondary home. Should I wait out on the?

Asked by Kim, 95116 Fri Mar 9, 2012


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Elva Wormley’s answer
Hi Kim,

The interest rates are better for second homes vs. rental properties. However, for the property to be considered a second home it must be in a location remote in distance from your primary residence and cannot be located in the same metropolitan area.

Best regards,

Elva Wormley
C2 Financial Corporation
0 votes Thank Flag Link Thu Mar 22, 2012
Yes, right now it will be deemed a Rental and rates will be slightly higher.

Good luck
0 votes Thank Flag Link Sun Mar 11, 2012
Should I wait out on the refinancing was my question.
0 votes Thank Flag Link Fri Mar 9, 2012
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