Updated almost 5 years ago on . Most recent reply
Is a 4.75 interest rate acceptable on 700 credit score?
Hello people I'm. Buying my first rental property with a conventional loan in texas, a triplex I'm planning to live in one of them, I have a four year job history and a 700 credit score and the bank gave me the loan estimate, it looks like this
loan term: 25years, product: 5.33, adjustable rate, loan type: conventional. Rate lock: NO And a 4.75 interest rate..
PLZ HELP I NEED ADIVCE TO PROCEED OR NOT?
Most Popular Reply
Colleen F.
#2 General Landlording & Rental Properties Contributor
Pro Member
#2 General Landlording & Rental Properties Contributor
- Investor
- Narragansett, RI
- 4,506
- Votes |
- 8,578
- Posts
Colleen F.
#2 General Landlording & Rental Properties Contributor
Pro Member
#2 General Landlording & Rental Properties Contributor
- Investor
- Narragansett, RI
Why aren't you using an owner occupied loan? I would think that would be fixed rate and lower interest but I am not a loan underwriter.