Can I use my current interest rate rate for another property?
Hello Gurus, this question may sound a bit odd but I have to ask. Here's my situation. I own a couple of homes in Denver. Both are now rentals. For one of them, I'd like to sell it to purchase another house, as my primary residence, in Denver in an area of town that i's prefer to live in. I currently have a loan on that property for 4.5% with a mortgagor. I know that my interest rate is tied to this house, but does anyone know if a lender would consider letting me sell that house and transfer the rate to a new address? Right now with my situation, I'd be looking at purchasing with an interest rate of 9.3% and that's just crazy. Appreciate direct answer as well as other creative solutions.