All Forum Posts by: Blake Lawson

Thanks @Jaysen Medhurst. This is for a residential, fixed 30yr term with no points. From what I am seeing this seems like a decent rate considering this will be my first mortgage. Thanks again!

Hey everyone - 

I'm onto the next step of getting pre-approved for a property I am looking at. Everything looks good so far, but I don't have a solid baseline to understand the interest rate for my pre-approval. I have great credit and no debt, and was approved for 5.25% for an investment property loan. From my understanding, interest rates on a loan for an investment property should be higher than an owner occupied interest rate, but how high? Are there any good resources I can use for future property analyses? Thanks!

Thanks for the recommendations @Jacob Sampson and @Ashley Kehr. I will rerun the numbers with a higher percentage for repairs and maintenance and see how that looks. 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hey Everyone - 

I've been sitting on the sidelines for the past year learning and absorbing as much information as I can through investor friends and BP resources. I came across this listing in the town I grew up in and am looking for additional insight as this would be my first real estate deal. The place is older (built in 1912) but the interior seems to be in good condition with no obvious plumbing or wiring issues. The vinyl siding on the outside has some holes and the roof is sagging, both of which may be contingencies for either financing or insurance. I am working with a local realtor I know (and trust) and am running the math to see if this makes sense for a first time investment. I am planning on conventional financing through a local lender and am analyzing a few other properties before I get pre-approved at which point I would move forward with an inspection on this property. 

Thanks for the help! 

Blake