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Updated about 7 years ago on . Most recent reply

Devang S.'s profile image
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Devang S.
  • Real Estate Investor
  • from Suwanee, Georgia
  • Member since Oct 19, 2017
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Devang S.'s profile image
Devang S.'s profile image
Devang S.
  • Real Estate Investor
  • from Suwanee, Georgia
  • Member since Oct 19, 2017
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Devang S.
  • Real Estate Investor
  • Suwanee, GA
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Buying & Selling Real Estate

Financing rental property

Devang S.
  • Real Estate Investor
  • Suwanee, GA
Posted

BP colleagues, I'm trying to finance a property via one of the lender I work with. 

Rough numbers are as here: Purchase price : $155k, Interest rate: 6%, Down : 25%, Closing Cost: about 7k (including 2k of prepaid and escrow), also Closing costs can't be rolled into the loan. Does this seem out of line or simply outrageous compared to the size of the loan?

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Caleb Heimsoth
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  • from Durham, NC
  • Member since Oct 1, 2016
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Caleb Heimsoth
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  • from Durham, NC
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  • Durham, NC
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Caleb Heimsoth
  • Rental Property Investor
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The interest rate seems high

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