Advice on investment loan interest

5 Replies

Hello BiggerPockets crew! I am currently looking at some investor type loans. I plan on going the conventional route and was quoted interest rates of 3-4%. I know it will not be the 2-3% because it is not owner occupied, but does that range sound accurate? Just want to make sure this is accurate. Thank you!

Originally posted by @Selena Matos :

Hello BiggerPockets crew! I am currently looking at some investor type loans. I plan on going the conventional route and was quoted interest rates of 3-4%. I know it will not be the 2-3% because it is not owner occupied, but does that range sound accurate? Just want to make sure this is accurate. Thank you!

Yep! 3-4% conventionsl 30 yr in personal name with at least 20% down. 

Seller-carry or private more in the 5-6% range. 

I’m closing on a conventional with 3.75 next month and am working on 2 more cash out refinances at 3.5 so this all sounds about right.  When I got pre approved 2 months ago the purchase rate was 4.75 so it had a recent steep decrease so these numbers can change fast.  

3-4% is in the correct range for a non owner occupied property.  However, that would be dependent on if they are charging you points for that rate or not.  If that is the no cost rate, then it is good.  If there is a hefty fee with that I would check out other lenders.