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I own a two-family house, also known as a duplex. I live in one unit and rent the other. I’m trying to refinance my mortgage and. My mortgage broker, citing a 3/8 of a point difference on a mortgage of 20 years If this difference is resonable?

2 Thoughts on Is there a difference between a mortgage interest rate for a single against a two-family house?
  1. Reply
    November 7, 2012 at 3:45 am

    NOT usually, for 1-4 unit owner-occupied
    I’d check around before going for it

  2. Reply
    Lisa L
    November 7, 2012 at 4:11 am

    3/8 rate difference compared to what? A single family home? If you are getting a Conventional loan, today, I have .25% difference between single family & 2 unit owner occupied. So you are being quoted .125% difference. Check around.

    The FHA rate is the same for one or two unit but you would have upfront mortgage insurance & monthly.

    Sorry—I forgot to add that LTV will make a difference on the Conventional loan. The lower the LTV the less difference. I was using 80% in the example above.

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