[Tidybuoy]

I got a horrible rate on my last mortgage. 7.9% on an investment property.

If I were to refinance as "owner occupied" - I've actually been living there for a year as I am remodeling, I should be able to lower my rate quite a bit. When I initially financed, I had to pay 1 full percentage higher since it was non-owner occupied. I also had to pay $50k more in down payment. The investment property is 6 blocks from my regular home, and I am virtually at both properties 7 days a week.

My question: what happens to my primary home mortgage as it is at 2.7%, financed about 6 years ago. Will treating my new property as my primary residence change the status of my current primary residence and affect the mortgage.

I guess the real question: what happens to any mortgage that is financed as a primary residence and then changed to a rental down the road.