Where can I find today's rates?

Question

Hi BP,

Where can I find the rate for today for personal and investment?

I have searched on the internet and I can not get a good answer. Thank you.

Chris Mason · Answer

I think you misunderstand... you add up ALL the hits from ALL the charts that are applicable. So a 3 unit investment property gets the 2-4 unit hit, and the investment hit.

Brad Henson · Answer

@Chris Mason This is really helpful.

For an investment property, I assume the correct chart to look at in the FNMA doc is the first?

Cheers!

Brad

Chris Mason · Answer

Here is a link to FNMA's loan level pricing adjustment matrix. It shows how many discount points it'll take to get what you see advertised. Usually the advertisements are assuming zero LLPAs, which isn't accurate for ~90% of people, and 100% of people buying rental properties.

If you'd rather take the rate bump than pay the points, which most people do, assume 0.5 to 0.75 discount points (it varies daily, with diminishing returns in both directions) translates into 0.125% to rate.

Edward P. · Answer

Hi @Gabe Amedee

Thank you but it only shows for owner occupied where can I find it for investment purposes?

@Harjeet Bhatti Where can I get a idea of the rates?

Thanks!

Harjeet Bhatti · Answer

@Edward P. Bankrate.com is good website for primary residence loan. You will not find rates for investment properties. You have to call lenders for rate.

Edward P. · Answer

Hi @Gabe Amedee

Thank you but it only shows for owner-occupied where can I find it for investment purposes?

Gabriel Amedee · Answer

Bankrate.com