Interest rates for condos vs coops
Started by MTH
about 2 years ago
Posts: 469
Member since: Apr 2012
Discussion about
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Does anyone know if interest rates are higher or lower for condos vs coops? I ask since condos can always be used as investment properties or second homes without restrictions and I am told investment properites / second homes generally command higher interest rates than primary residences. When taking out a mortgage on a condo can the bank insist the property be used as a primary residence and how can they enforce that? Thanks!