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Primary Residence Versus Investment Property
What are the differences in loan requirements for a primary residence versus an investment property?
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1 Reply
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Primary residence mortgage loans require lower down payment such as 0% on VA and USDA loans, 3% to 5% on conventional loans, and 3.5% on FHA loans. Mortgage rates are lower on primary homes. Investment properties require a 15% to 30% down payment and rates are higher than primary homes.