Is there a difference between a mortgage interest rate for a single-family compared to a two-family home?

Question by me: Is there a difference between a mortgage interest rate for a single-family compared to a two-family home?
I own a two-family home, aka duplex. I live in one unit and rent out the other. I am trying to refinance my mortgage and my mortgage broker is quoting a 3/8 of a point rate difference on a 20-year mortgage. Is this difference resonable?

Best answer:

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

Know better? Leave your own answer in the comments!

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One Response to Is there a difference between a mortgage interest rate for a single-family compared to a two-family home?

  1. Lisa L says:

    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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