Current mtg rate with 810 FICO score

Current mtg rate with 810 FICO score

Rental Property Investor · New York, NY · Member since 2019 · 11 posts · 5 votes

Pre approve mortgage application

150K loan amount

30 Fix

5.75% rate

CHASE

EXCELLENT CREDIT. NO DEBT.

Is this interest rate good or should I keep shopping? Today is May 31st. Thanks ahead of time for responding.

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Rental Property Investor · Arlington, TX · Member since 2019 · 2 posts · 21 votes
7y

@Simon Dean Best piece of advice I've heard on this is from Graham Stephan on YouTube. He mentioned taking this quote to another bank to see if they can beat it. Once you find a bank to beat that rate, you then take it to yet another bank and have them beat THAT rate. Continue this until it's unbeatable and then you'll have your lowest rate :)

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  • Member since 2019 · 10 posts · 7 votes
    7y

    @Simon Dean if you have 20 percent down and can finance conventional that is a horrible rate.

  • Matthew RaylPro Member
    Rental Property Investor · Imperial Beach, CA · Member since 2017 · 54 posts · 21 votes
    7y

    @Simon Dean

    Try HomePoint Financial, they blew everyone else out of the water when my broker was shopping. I just closed in April for a primary. Wife and I - 814/803 FICO, 5% down and paid 11.3K to get 3.25% on 641K. Good luck!

  • Member since 2019 · 1 post · 0 votes
    7y

    @Simon Dean Hello that seems high. I pay 5.125% on rental property here in California. I think my loan was for 173k originally. This was one year ago.

  • Member since 2017 · 4 posts · 1 vote
    7y

    @Simon Dean I did a deal for 4.75% last month, keep shopping, it might go lower in a couple months if we don't get these tariff's under control lol.

  • Todd SolbergPro Member
    Rental Property Investor · Byron, MN · Member since 2015 · 71 posts · 34 votes
    7y

    @Simon Dean 3.65. 30 yrs. In minnesota

  • Chino, CA · Member since 2019 · 1 post · 0 votes
    7y

    Just got approved last week for 30yr 4.25% on 195k or 4% for 15 yrs (California) 800 score

  • Rental Property Investor · New York, NY · Member since 2019 · 11 posts · 5 votes
    7y

    @Miguel Gamino who’s your lender? I got my quote from Chase Bank.

  • Rental Property Investor · New York, NY · Member since 2019 · 11 posts · 5 votes
    7y

    @Matthew Rayl Thanks. I will look in to them.

  • Investor · Houston, TX · Member since 2017 · 7 posts · 3 votes
    7y
    Originally posted by @Alexander Sharp:

    @Simon Dean Best piece of advice I've heard on this is from Graham Stephan on YouTube. He mentioned taking this quote to another bank to see if they can beat it. Once you find a bank to beat that rate, you then take it to yet another bank and have them beat THAT rate. Continue this until it's unbeatable and then you'll have your lowest rate :)

     These may be some of the wisest words that I've read on BP in my limited time here.  I humbly ask for permission to steal these words......Bye the way Thanks.

  • Rental Property Investor · Arlington, TX · Member since 2019 · 2 posts · 21 votes
    7y

    @Damon Gibson

    Absolutely! Glad I could help you out!

  • Flipper/Rehabber · Minneapolis, MN · Member since 2016 · 1k+ posts · 1k+ votes
    7y
    Originally posted by @Todd Solberg:

    @Simon Dean 3.65. 30 yrs. In minnesota

    Who is offering this???

  • Todd SolbergPro Member
    Rental Property Investor · Byron, MN · Member since 2015 · 71 posts · 34 votes
    7y

    @John Woodrich merchants bank Rochester. On their website. Think bank is around 4.2

  • Rental Property Investor · Richmond, VA · Member since 2016 · 279 posts · 133 votes
    7y

    @Alexander Sharp

    Yup, this does work.

  • Real Estate Broker · Los Angeles, CA · Member since 2017 · 655 posts · 293 votes
    7y

    @Simon Dean

    Is this for an investment property or SFH? 5.75% is high for either when compared to what I'm seeing.

    I work with different lenders across the country and the last I was looking at for multi fam, was 4.8%

    Brokers will work to find the best rate in most cases. DM me if you want to talk a bit further, I can send you some references to at least ask 

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