RE Investment Loan - what kind of numbers are you getting?

[Kevin Coggins]

Just went to a bank I found that does the type of loans (seems like most don't), and got the following numbers:

Term: 10-15 Years (5/1 ARM I believe is what it's called, but the note is 5 yrs)

Rate: 6.15% 

Downpayment: 20%

This doesn't seem too bad, but it isn't really impressive either. Seems like I should be able to get this as a fixed rate, or at least get a lower rate. Curious to see what others have found in the Houston area?

Thanks!
Kevin

[Doug McLeod]

If you buy in your own name (and protect yourself with good screening, good management, and good insurance), you can get 5% or lower fixed rate for 30 years. There are a few mortgage brokers I can recommend who work with investors often. 

If you insist on using LLC, there are some banks that can give you a rate and LTV with similar or better terms to what you mention with 20-25 year amortization that balloon in 10 years. PM me if you want a couple contacts.