Buyer's Edge Inspections

Question by Lost I: Are mortgage rates usually higher on investment properties?
Are mortgage rates usually higher on investment properties. I want to make sure that i’m gettin the right information. Right now if i go onto bankrate the interest rate is 6.27 on a fixed 30 year. My mortgage broker says that on investment properties that they add a point.

The rate I’m getting on on a 30 year fixed on the investment property is 7.5. Is that sounds right or is that too high?

Thanks!!!

Best answer:

Answer by EvilWoman0913
This has been my experience also. 7.5 sounds high considering how low rates have been recently, but that’s probably about right. Doesn’t seem fair does it?

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