Investment Property Interest Rates in Orlando, FL

[Cooper Reece]

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!

[Raymond J. Rodrigues]

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.