Current investment property rates.
I’m looking for some help here on what you’re getting for current rates. I just went into contract on a SFR and I’ve been using with the same broker for the past 12 years and we’ve closed 8 deals and I’ve referred 2 other loans that they closed in the past.
I noticed on bankrate.com that the current 30 year fixed for a personal home is at 4.40%. Now in the past this broker I work with would always be .5% above the current rate for an investment property. Today he quoted me a 5.25% and I’m outraged. I’ve given them plenty of business and intend to give them more but I don’t appreciate the extra .25% they are tacking on.
My question to the community is do other investors here usually get a rate like I have in the past, .5% above the going rate on a 30 year fixed, or do you get something different?
Looking forward to your answers, thank you! Not sure if I should ditch my broker.