What Interest Rates Are You Seeing?
Curious if anyone has had any recent quotes on 30 year loans for an investment property.
I'm looking at something this weekend in Kentucky. Excellent credit and a 30% downpayment. My credit union quoted me 6.375% but they won't finance a log home. The in-state lender recommended by my realtor quoted me 7.0% if I paid $1300 towards points, which to me seemed ridiculous; back in April when we put an offer down on a property in Indiana we were quoted 7.0 without points. I'm trying to figure out which of these is the anomaly.
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John Underwood
#3 All Forums Contributor
Pro Member
#3 All Forums Contributor
- Investor
- Greer, SC
Don't pay for points since you can refi later.
4 to 6 rate cuts coming by end of 2025.
If it won't cash flow at a 7% mortgage then it's probably not a good deal anyway.