NLIC.org

Tanya Said:

Choosing Home Insurance and How to Switch?

We Answered:

where r u from?

Armando Said:

Buying house as second home or as an investment property? Which one is better?

We Answered:

In the lender's eyes, an investment property is much riskier to provide financing for than a second home. However, you cannot just call it whatever you want to try to save a buck.

As "Mazziatplay" stated, it has to make sense. A second home would typically be in a vacation area, for instance. If it is less than a few hours away, why would you need a second home there? These are the type of questions that the lender will ask.

There is a reason for the three types of classification of your residence. If you're untruthful on your application, it is fraudulent, no if's, and's, or but's...