Rental Property

Rental Property
How do I finance a second property for rent?

When can I borrow indicate my intention to use it as my principal residence or a rental application? I know what I should do, but I want to know what is a common practice. A mortgage broker friend told me it would be stupid to be ready in a rental property and that was my primary.

If you request a loan on the pretext that this will be your home and you actually use as a rental property, is a fraud! And you can go to jail. It is a federal crime. What the loan officer should be hung out to dry!

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