Fixed rate on residential 4 family investment

[Account Closed]

Hello BP

Interest rates are low and my my personal homes interest rate is low also. But my investment investment property have a 5 year ARM and i want to get all of my investment propertys that have an adjustable revolving mortgage (ARM) out of my life. But most traditional lenders dont do.

I found a mortgage company that does do these types of loans. They quoted me 30 year fixed rate of 6.86% payments of $1,157 with closing costs of $1,950 2 points each property depending on if i do all of my properties take .5% off refi at 80% LTV.

Any thoughts questions comments or concerns??????????

What do youuuu guys think

[Brian Tietje]

Look to a regional Bank. In ny I work with Salisbury bank out of CT, they may cover MA. I am 75% LTV, 4.5% 15 and 20 year terms, no points but scaled prepayment points the first 5 years which for me is it irrelevant as I buy and hold.