Posted by Charles Clark on January 08, 2003 at 18:28:54:
Hi Rod,
The risks involved in a non owner occupied loan are much higher than a residence. (if you do not pay the N/O/O you still have a roof over your head). Some lenders do not charge much more for N/O/O however.
Charles Clark
Can I refinance my rental house at the lowest current rate, while not being an owner occupant? Are there different restrictions on refinancing for lowerer rates on rentals as opposed to owner occupants, such as, higher rates?