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Updated over 3 years ago on . Most recent reply

William Coet's profile image
William Coet's profile image
William Coet
  • from Lititz, Pennsylvania
  • Member since May 7, 2013
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William Coet's profile image
William Coet's profile image
William Coet
  • from Lititz, Pennsylvania
  • Member since May 7, 2013
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William Coet
  • Lititz, PA
271
Votes |
580
Posts
Private Lending & Conventional Mortgage Advice

What are Current Rates and Closing Costs For a Rental Mortgage?

William Coet
  • Lititz, PA
Posted

 Called a bank today and they are seeking 5.25% with $4,500 closing costs for a 90k loan on a rental with fewer than four units.

Both the rate and the closing costs seem high.

What are others seeing these days?

Thank you

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Alan Lacey's profile image
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Alan Lacey
  • Lender
  • from Grand Rapids, MI
  • Member since Jan 25, 2019
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Alan Lacey's profile image
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Alan Lacey
  • Lender
  • from Grand Rapids, MI
  • Member since Jan 25, 2019
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Alan Lacey
  • Lender
  • Grand Rapids, MI
82
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174
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Alan Lacey
  • Lender
  • Grand Rapids, MI
Replied

Credit score is a big factor,but if you have good credit even ona smaller loan amount that seems high

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