So I got approved for a mortgage loan for an investment, have a great credit score. I was approved for a 5.25% mortgage loan, thought this was a bit high then looked at ally, they show about 5.5-5.65, so now I’m thinking 5.25 is good. I live and invest in Texas.
@Todd Kale id say that’s a pretty good current rate. Assuming you’re not paying a fortune in points
I'm in the process of doing a cash out refinance on an investment property at 75% LTV at a fixed rate of 4.875% 30 year loan. I think that's REAL good, 5.25% not horrible but I would think you could do better. I'm in a major city, Boston.
Back in Nov, was pre approved for 5.125 - 5.25 for 5% down in WA. Good credit score too. I'm sure this would go down slightly when I need to actually secure the loan because of the latest trends.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you