Mortgage rates for a second home are also typically 0.25% to 0.50% higher than the rate for a primary residence, said Garth Graham, senior partner at Stratmor Group, a mortgage advisory firm. The rate is usually 0.50% to 0.75% higher for an investment property.

President Trump called on Fed Governor Lisa Cook to resign on Wednesday after one of his appointees accused her of mortgage fraud.

The Trump administration has levied mortgage fraud accusations on other high-profile Democrats–especially Trump critics.