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re: Investment property interest rate?
Posted on 5/16/20 at 4:58 pm to Athletix
Posted on 5/16/20 at 4:58 pm to Athletix
Just got 4.75%, 20 yr am, 5 yr bal. 20% LTV on a build to rent. I’m a general contractor, so I just rinse and repeat. This is basically a zero down process for me, because the cost to build is below 80% of the appraisal. The smaller banks are definitely the way to go. Once you have a good track record all you have to do is email the deal to your guy and he gets an approval in no time.
This post was edited on 5/16/20 at 5:04 pm
1
Posted on 5/16/20 at 5:28 pm to drenko50
Can you send me a reference? I called a host of small banks and was getting quoted 6%. 5.5 was best I found at the local bank where I bank. I believe gmfs was around 4.4ish% maybe better a few weeks ago, but again 70k minimum.
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