Interest rate on duplex

[Nathan Kawalerski]

I realize it's subjective but I just got quoted 7.3 APR on a duplex investment property mortgage with a good credit score from Wells Fargo? Seems a little high. Anyone getting better quotes?

[Michael Radney]

Those two are the call center kind of lenders Mitch was saying to avoid. Finding an experienced loan officer at a local/regional lender or broker with an office in your market will usually lead to less headaches. They're usually (not always) easier to reach after hours, more knowledgeable and value your repeat business as an investor. Local lenders/brokers may have a few portfolio options too, for strong credit/conservative LTV scenarios.