hunting for a IO loan at 65% LTV at a decent rate.
Hey there, just curious if anyone is seeing any decent private money rates for investments properties. I have a place I'm looking to refi out at 65% and hoping to find a IO in and around 5% if possible.
I've had a lot of conversations with various lenders over the past couple weeks. I've been looking for some better terms on some of my development debt.
I don't think you're going to find a fully amortized loan on a cash-out-refi at 7%, let alone an interest-only loan at 5%.
Not a great time to borrow money... and looks like it's going to get worse before it gets better.
You might be able to get into the mid 6% range on a 30 year but that would probably be the lowest rate that you will find.
Best of luck tho, hope you are able to land something favorable for your situation
Quote from @Steven Denio:
Hey there, just curious if anyone is seeing any decent private money rates for investments properties. I have a place I'm looking to refi out at 65% and hoping to find a IO in and around 5% if possible.
What is the property type, current value, and term you're seeking?
Quote from @Scott Wolf:
Quote from @Steven Denio:
Hey there, just curious if anyone is seeing any decent private money rates for investments properties. I have a place I'm looking to refi out at 65% and hoping to find a IO in and around 5% if possible.
What is the property type, current value, and term you're seeking?
Sfr-$950k. 3-5year cash out refi
Quote from @Steven Denio:
Quote from @Scott Wolf:
Quote from @Steven Denio:
Hey there, just curious if anyone is seeing any decent private money rates for investments properties. I have a place I'm looking to refi out at 65% and hoping to find a IO in and around 5% if possible.
What is the property type, current value, and term you're seeking?
Sfr-$950k. 3-5year cash out refi
what does this rent for, market or in place rent, not str…….
It’s possible you could bridge it but bridge lenders are not favorable to cash out right now.
@Steven Denio- more than likely there are no long term IO options for INV property ....if you find one - the rate will be north of 7% and likely short term ( 1-2 yrs )
@scott
@Scott Wolf - a 2 to 5 year product on a SFR residential home. Current comps are around 950K. I'm looking to cash out refi at 65% LTV
Quote from @Steven Denio:
Hey there, just curious if anyone is seeing any decent private money rates for investments properties. I have a place I'm looking to refi out at 65% and hoping to find a IO in and around 5% if possible.
hi Steven! We have an IO loan for investment at 70%. Rates are not in the 5's but the way this loan operates peoples effective rate that qualify are significantly better than even rates 8 months ago! its called the ALL IN ONE and it is works like nothing else out there.