If you put
less than 20 % down
on a residential investment property there is mortgage insurance just like a
primary residence, however, the rates for investment properties are typically much higher.
I myself own a property in Racine which was my
primary residence for a short time until I divorced my wife and moved to Chicago... I had it built (stupid, I know but it was what the lady wanted) and ultimately couldn't sell it when I moved as it is in a new subdivision and there are a lot of nicer, bigger, slightly older homes for sale in the area for
less than what I owed
on my loan, plus there are more than a few foreclosures / vacancies in this neighborhood.