Zillow Advice: Home Buying - Interest Rate for Buying Second Home as a Primary Residence? http://www.zillow.com/advice-thread/Interest-Rate-for-Buying-Second-Home-as-a-Primary-Residence/468737/ Zillow Advice | Zillow Real Estate It will all depend on your ... http://www.zillow.com/advice-thread/Interest-Rate-for-Buying-Second-Home-as-a-Primary-Residence/468737/ It will all depend on your ability to sustain two properties, the best advice will be given by a mortgage broker after he checks your financia background.&nbsp; I suggest you contact at least two mortgage brokers and see what they have to say.&nbsp; It is doable! Mon, 19 Nov 2012 00:44:00 GMT http://www.zillow.com/advice-thread/Interest-Rate-for-Buying-Second-Home-as-a-Primary-Residence/468737/ 2012-11-19T00:44:00Z What percent equity do you ... http://www.zillow.com/advice-thread/Interest-Rate-for-Buying-Second-Home-as-a-Primary-Residence/468737/ What percent equity do you have in your townhome?&nbsp; That number will contribute to figuring out the exact down payment amount required for purchase of a second property. <br/><br/>Will you be able to qualify for both mortgages on your current income plus debts.&nbsp; While you do plan to rent, without a history of rental income that amount is not likely to count.<br/><br/>You need to talk directly with a lender about scenarios using your exact numbers. <br/><br/> Mon, 19 Nov 2012 00:26:00 GMT http://www.zillow.com/advice-thread/Interest-Rate-for-Buying-Second-Home-as-a-Primary-Residence/468737/ 2012-11-19T00:26:00Z Thanks! My first mortgage ... http://www.zillow.com/advice-thread/Interest-Rate-for-Buying-Second-Home-as-a-Primary-Residence/468737/ Thanks! My first mortgage was not an FHA loan. <br/><br/>Will having 10% down and excellent credit qualify me for the best rate possible, even if my debt-to-income ratio will be at just about the FHA limit? Mon, 19 Nov 2012 00:01:00 GMT http://www.zillow.com/advice-thread/Interest-Rate-for-Buying-Second-Home-as-a-Primary-Residence/468737/ 2012-11-19T00:01:00Z You should have no problem ... http://www.zillow.com/advice-thread/Interest-Rate-for-Buying-Second-Home-as-a-Primary-Residence/468737/ You should have no problem getting an owner occupied loan on the new house with the appropriate interest rate. Keep in mind only 1 FHA loan may be carried at a time minus a few&nbsp;extenuating&nbsp;circumstances&nbsp;(if this applies in your situation).<br/><br/>As long as your debt ratios are in line and you have the needed reserves for both properties. Sat, 17 Nov 2012 12:10:00 GMT http://www.zillow.com/advice-thread/Interest-Rate-for-Buying-Second-Home-as-a-Primary-Residence/468737/ 2012-11-17T12:10:00Z