Rental Properties rental Interest Rate

[Patrick Rowe]

I just got a quote from our lender on a rental property. Is this typical with what you guys are seeing in your area?  Also are you guys getting a better interest rate?

5 year balloon at 5.711 interest rate Amortized over 30 years. 

[Alexander Felice]

Originally posted by @Patrick Rowe:

@Alexander Felice- Yes, It's a business loan in my LLC NAME.

yeah I figured when you said balloon payment.

So, not to negate anyone in this thread's advice that you can get better rates, because you may be able to, however it's important to know all the details when comparing rates. It's likely that all the other posters quoting rates @ 30 year terms have residential loans, these rates and terms will simply not be comparable for you.

5.71 isn't bad, you should expect 20 year amortization-ish

always call around and shop rate/terms. What you have isn't bad though.