Can Anyone Recommend a Lender? What are current rates?

Question

Hey BP!

I was wondering which lenders yall are using and what kind of rates yall are getting lately? I was looking to get a loan because I'm trying to make an offer on a sfh to buy and hold, but the rate was around 4.75% with 25% down. I was about to shop around, but I thought I'd check to see if anyone from the community could recommend a lender.

Also, can anyone recommend an inspector in the Katy area?

I would really appreciate any input!

Thanks!

Alex

Ryan Tiller · Answer

@Theodore Rivera

PrimeLending and it was 2 weeks ago today. Title company was frontier title.

Tim Koger · Answer

Give @Andrew Postell a shout. He's an active lender here on BP.

Account Closed · Answer

Highly, highly recommend @James Ricks as a lender. I know he'd love to discuss more with you; brilliant lender in the Houston area and really takes care of his clients.

Theodore Rivera · Answer

Thanks! @Ryan Tiller

Alex Juarez · Answer

Thanks for the input guys!! Sorry for late response, been pretty busy lately, but I actually found someone that beat the original 4.75%. Home Start Capital came in at 4.4% with 25% down. I think at 20% they said it would've been closer to 4.85%.

Theodore Rivera · Answer

@Ryan Tiller If you don't mind who did you close with and how long has it been since you closed?

Ryan Tiller · Answer

@Alex Juarez

I just closed on a property in Katy and got an interest rate of 4.6% with 25% down.

Andrew Postell · Answer

@Tim Koger thanks for the mention.  And @Alex Juarez that rate does seem reasonable but do you need to put 25% down?  Most of us investors need cash in the bank to try to buy MORE properties.  Ask what they can do for 20% and 15% down so you can see the difference.  Maybe that will help you buy more properties.  Just a thought.

Eric Geordi · Answer

I would be interested in hearing as well. I am starting my journey into real estate investing for buy and hold properties and have just gotten a pre-approval from Quicken. However, I am still not sure what a good rate is these days for investors. If I understand correctly, rates tend to be higher for investment properties, right?

Ethan G. · Answer

That seems like a good rate, whicj Bank was it! Local/national?

Can Anyone Recommend a Lender? What are current rates?

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