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Updated almost 10 years ago on . Most recent reply

Abhilash Joseph's profile image
Abhilash Joseph's profile image
Abhilash Joseph
  • from Missouri City, Texas
  • Member since May 8, 2015
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Abhilash Joseph's profile image
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Abhilash Joseph
  • from Missouri City, Texas
  • Member since May 8, 2015
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Abhilash Joseph
  • Missouri City, TX
8
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Mortgage Brokers & Lenders

Thoughts on lender offer

Abhilash Joseph
  • Missouri City, TX
Posted

5% for 30YR on a cash out refi with a 690 Credit score..

Is this typically this high for an investment property? My current rate is 5.25% @ 15 yrs...

Any ideas or suggestions is welcome

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Mark F.'s profile image
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Mark F.
  • Investor
  • from Orange County, CA
  • Member since May 4, 2009
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Mark F.
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  • from Orange County, CA
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Mark F.
  • Investor
  • Orange County, CA
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Mark F.
  • Investor
  • Orange County, CA
Replied

@Abhilash Joseph It doesn't sound like you got a bad deal at all. Assuming this is a typical Fannie Mae loan, you're paying a bit of a premium in the rate for investment property, cash out, and 30-year fixed and your credit score. If you've talked with a few other lenders and haven't gotten anything radically better, you're probably getting a reasonably good deal.

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