Investment Property Interest Rates in Orlando, FL

5 Replies

Hey there, I'm looking at buying another duplex in Orlando as an investment property and curious if anyone's got a good feel on where rates are right now for these? I know single family primary residences are in the mid 2's and an investment property is usually 1-1.5 points higher, but I've heard everything from my local banking relationships from 3.24% APR @ 75% LTV to 5.125% APR @ 80% LTV (which is absurd) so I'm just curious if anyone's got some real experience in the Central FL market lately on purchasing a 2-4 unit deal as an investment property and what rate they got @ what LTV. I currently own a triplex, live in one unit rent the other two, don't have much debt other than my mortgage, and have at least 2x the cash needed for a 20% down payment on this duplex I'm looking at, so I should be a favorable borrower in a lender's eyes. Feedback is much appreciated. Thanks!

@Cooper Forbes I haven’t done a multifamily deal since late 2018 but I purchased two single families and did an investment property refi in central FL this year. Feb 2020 purchase was 3.25%, Oct 2020 refi was 3.125%, Dec 2020 purchase was 3%. I would think most lenders might ask for 25% down on multifamily and the rates would be similar.

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Hi @Cooper Forbes message me and I can put you in touch with a couple of my lenders. I am a Realtor and investor in Orlando and have several options from direct lenders that use private money to brokers that can shop for you. 

Based on Friday’s rate sheet, 75% loan to value(25% down payment as required by Fannie Mae and Freddie Mac for investment property multi family), you are at 2.99-3.124% based on the presumption that you have great credit. Zero points. 

Single family, townhomes and condos allow for as little as 15% down payment. I am a licensed lender in the State of Florida.