what to do after 10 properties?
So I have finally hit the 10 property mark. They each have a mortgage with a rate between 3.5% and 4.0%, so I don't want to refinance them into an umbrella loan or anything like that. My question is, what is the best rate I can expect going forward with portfolio lenders. I have excellent credit and my DTI is around 42.
I got one quote from a portfolio lender for 6.875 5/1 ARM, 30 year pay down. Are there better rates out there? What would be considered a "good" rate from a portfolio lender? What about commercial loans on 5+ unit properties, would those come with better loan terms?