Wondering what are some the national/online companies that have best interest rates for investment properties. I am located in Portland, Oregon.
Basically trying to figure out how to get the best rates? Are there certain loan companies to target or any other tips to optimize on interest rates.
If you still qualify for a conventional residential loan for your investment property, go for that. Call a couple of mortgage lenders should give you an idea of the current rate. If you can't qualify that, commercial loan would be your second choice for investment properties. Current rate is around 4.5-5.5% for 30-year fixed rate loan, depending on your credit, experience, and leverage you want.
Hi @Arta Montero , it is best to call around to different lenders. You can also take a quote to another lender and see if they will match the other rate. DM me and I would be happy to give you a few lender's information.
I have seen mid 3's to the 4's for rates
Hi @Brad Hammond: do any of the lenders you're referring to accept 20% down or less?
@Arta Montero- You will see Long term rental, 30 Year Fixed rates range from 4.375% and up (Depending on guarantor qualifications, Property Type, Program Type, Buy-downs, Leverage % etc.). Fix and Flip Rehab financing from 7.75% to 9.99%. Quite a few factors would go into an exact number for you.
Hi @Arta Montero ,
As others have mentioned above, your best bet is to speak with a few different types of lenders about your specific scenario so that you can get an idea of your pricing.
Generally speaking, more traditional lenders, e.g. banks, will offer lower interest rates than private or hard money lender-type capital sources.
Best of luck,
@Wenda Wang makes sense. Thank you!
@Brad Hammond thank you. Will let you know once I find something.
@Caleb Brown that’s not bad. Thank you!
@Ed Burk I see. Thank you!
@Michael Kinsella true, thank you!
I just got a refinance done for a 1.45% variable on 30 yr amortization, 5 year variable in Canada and was told this is a bit higher due to a refi on a rental property. Curious to hear how the US mortgage rates compare in general as the numbers sound like around 3%+ which is more than double