About higher mortgage rates on a second homeHi, I'm planning to purchase a second home in AZ and would like to lease it out. I understand there is a point premium added to your mortgage and also you need to put down >25%. If I don't lease it out at the time of applying for the mortgage and use the property as my second home, can I get the standard loan w/out the higher rates? What if later on I decide to lease it, what happens to my locked in rate? Thx.January 06 2011 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.