What interest rates is everybody getting?

Buying & Selling Real Estate
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What interest rates is everybody getting?

Senad Salihovic
Louisville, KY · Member since 2014 · 34 posts · 0 votes

I'm just wondering what interest rates everybody is getting on their investment properties right now. 

What rate should I expect, Louisville KY

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Upen PatelPro Member
Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
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@Senad Salihovic Interest rate is a combination of your Loan size, Credit Score, Loan LTV, DTI, Source of income (to list a few main pieces). So while it is good to know what others are getting, it gives no indication as to what rate you will qualify for.

Upen Patel

Federal NMLS# 1374243

[email protected]571-200-6180
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  • Elizabeth Colegrove
    Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
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    In california I am getting 4.25 for personal and 4.85 for investment with closing cost assistance.

    0Reply
  • Pavel Reyes Valdes
    Real Estate Agent · Louisville, KY · Member since 2014 · 244 posts · 111 votes
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    4.0 owner occupied. Conventional loan 

    0Reply
  • Alex Brookbank
    Investor · Cincinnati, OH · Member since 2015 · 90 posts · 44 votes
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    I got 3.9 in Cincinnati for owner-occupied ... a few months ago.

    0Reply
  • Coleman Nelson
    Rental Property Investor · Cincinnati, OH · Member since 2014 · 150 posts · 59 votes
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    We are refinancing our rental properties (mostly SFRs and duplexes) with a local bank here in Cincy and they are giving us 4.75% fixed rate 20-year loans.

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  • Max James
    Investor · Cincinnati, OH · Member since 2015 · 229 posts · 50 votes
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    3.75 owner occupied FHA 4 family

    0Reply
  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    11y
    @Senad Salihovic Interest rate is a combination of your Loan size, Credit Score, Loan LTV, DTI, Source of income (to list a few main pieces). So while it is good to know what others are getting, it gives no indication as to what rate you will qualify for.

    Upen Patel

    Federal NMLS# 1374243

    [email protected]571-200-6180
    1Reply
  • Christine Waltz
    Cincinnati, OH · Member since 2013 · 20 posts · 0 votes
    11y

    @Coleman Nelson Would you mind sharing what bank it is that you're using for refi's and any requirements they have?  It would be greatly appreciated!

    0Reply
  • Bart H.
    Currently work as a Computer Security Officer · Savannah, GA · Member since 2015 · 14 posts · 5 votes
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    I got a rate quote from BB&T Bank for 4.0% for investment property here in Savannah, GA.  That's with 20% down.

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  • Adam Kent
    Investor · Indianapolis, IN · Member since 2014 · 69 posts · 17 votes
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    My last purchase on July 31st was at 4.38%. The was an investment loan and 20% down. I shopped around for a while and fairway mortgage matched the rate.
    0Reply
  • Nicole A.Pro Member
    Rental Property Investor · Baltimore County Maryland and Tampa Florida · Member since 2013 · 2k+ posts · 2k+ votes
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    @Bart H. When did you do your investment loan with BB&T? And is it in your name or a business name? My small bank is being taken over by BB&T and currently all investment mortgages are suspended until they hear if BB&T will do these types of loans because apparently BB&T was thinking of not allowing this.

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  • Bart H.
    Currently work as a Computer Security Officer · Savannah, GA · Member since 2015 · 14 posts · 5 votes
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    I just got a pre-qualification letter from BB&T just over a week ago and I got it based on my own name, not my business.  Unfortunately, I backed out of the purchase deal because of some lingering issues with the property, but BB&T were gracious enough to let me know they are available to finance my next potential deal.

    1Reply
  • Coleman Nelson
    Rental Property Investor · Cincinnati, OH · Member since 2014 · 150 posts · 59 votes
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    Originally posted by @Christine Waltz:

    @Coleman Nelson Would you mind sharing what bank it is that you're using for refi's and any requirements they have?  It would be greatly appreciated!

     My business partners have been working with the banks so i don't know all of their requirements.  But the bank we've had the best luck with is Valley Central Bank.  They are a portfolio lender, so they don't have to follow all of the Fannie/Freddie requirements.  They were willing to cash out refinance up to 75% of appraised value (25% equity in the properties).  It seems like what helped us the most with them was our good track record and the fact that we run our rental company like a business.  Best of luck to you.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
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    I typically pay between .5% to .85% above what Freddie Mac has listed as the average retail rate for a given week. You can find the weekly Freddie Mac rate survey at this link,

    http://www.freddiemac.com/pmms/

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  • Hector Guerra
    Rental Property Investor · Harlingen, TX · Member since 2014 · 9 posts · 0 votes
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    recently Quoted 5.125 % for LTV 70/30 for investment property in Texas? Quoted as having excellent credit etc. Any opinions as to what others have been offered. Loan will be 100K at max. for duplex.

    0Reply
  • Michael Urias
    Real Estate Agent · Willis, TX · Member since 2015 · 1 post · 0 votes
    10y

    I've secured a mortage for my client at 4.75& on investment property with 20% down....the rate you are being quoted could be due to loan amount.

    0Reply
  • Hector Guerra
    Rental Property Investor · Harlingen, TX · Member since 2014 · 9 posts · 0 votes
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    Was this on a non occupied rental property?

    0Reply
  • Logan AllecBusiness Member
    Accountant · Los Angeles, CA · Member since 2014 · 1k+ posts · 980 votes
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    3.65% owner-occupied FHA 4-family...this was about 3 months ago.

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  • Eric Mauricio
    Fargo, ND · Member since 2014 · 98 posts · 26 votes
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  • Curtis BidwellPro Member
    Rental Property Investor · Olympia, WA · Member since 2014 · 777 posts · 744 votes
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    I closed a duplex refi yesterday at 4.75% 30 yr. (70% ltv). 

    Just locked a rate for a SFR for 4.675% 30 yr. should close befor year end (25% ltv). Both in my name.

    Closed a 10 unit on Nov 30 in an LLC at 4.25% 25 yr 20% down (down payment came from LOC at 5.25%).

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  • Elizabeth Colegrove
    Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
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    Originally posted by @Eric Mauricio:

    No I have a slightly higher rate for closing cost to be paid by my broker.

    0Reply
  • Kevin Kroll
    Investor · North Augusta, SC · Member since 2015 · 52 posts · 14 votes
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    4.5% 30yr fixed, for investment property #6

    0Reply
  • Greg Borowiec
    Schenectady, NY · Member since 2014 · 4 posts · 1 vote
    10y

    Commercial loan (6 unit multifamily) with first 5 years at 3.65% and years 6 - 10 adjusting with the treasury rate but not to exceed 5.65%. Amortized over 20 years.  20% down and the bank agreed to move the mortgage payment date from the 1st to the 15th.  

    0Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    10y

    You guys are doing awesome! I'm paying 6% for 15-yr seller financing. I don't pay origination or appraisal fees, they are assumable and contain no DOS clause, but you're beating me by 2%+!

    0Reply
  • John Thedford
    Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
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    Private money 6.25%-7%. Fast and easy with just a phone call. No appraisal, no fees, etc..but I am paying a pretty good rate (the lenders are well secured, don't ask questions...take what I tell them as factual, and they can't get anywhere near that in the bank). Works for me due to ease of transaction and not having to jump through hoops. These are 5 year straight am loans. 

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  • John Thedford
    Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
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    @Steve Vaughanhook me up if you can find any nice houses in SW FL with those terms. With inflation, etc IMO you can't go wrong! Pay them back with money that is worth 30% less! If you aren't reading Daniel Amerman's articles...check him out. 

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