Can someone tell me what's the lowest mortgage interest rate for a conventional 30 year fixed loan in Houston,Texas for an investment property ( single family home) with good credit and 20% down ?
@Moe Soliman It looks like its around 4.75% as of this morning
@Aaron Beauchamp , that's for an investment property ? My current mortgage broker gave me a 5.75 % rate ? Is this through a bank or a broker/ mortgage company ?
@Moe Soliman Just looked it is 5.75% for investment. Sorry misread.
For budget/cashflow calculation purposes, add super ballpark 1.000% to that for 75% LTV SFR n/o/o, 1.250% for 2-4 unit. And note that the survey isn't at 0 points, add another 0.125% or so if you want that. Survey is also always a week out of date, account for that. Decent chance it'll come in better at the end, but if the deal/property works with those numbers then obviously it'll work if it's better.
Something like 90% of lenders are going to be in a very narrow band of 0.250% for this. Of that other 10%, half are lying and the other half have no idea how to do their jobs.
Add like 4.000% to that if you want to look for that unicorn 2-4 unit 80% LTV portfolio ARM.