fixed rate 2nd - Posted by steve

Posted by ron on March 30, 2007 at 14:26:07:

With those scores and LTV you are looking around 7.5% fixed rate second. You may want to consider refinancing the entire loan. An option arm will allow you to make lower payments and payoff in 20yrs if set up correctly. Thats if you want to pay this loan off faster.I will show you how if you are interested.

fixed rate 2nd - Posted by steve

Posted by steve on March 30, 2007 at 13:54:28:

I am looking for the best rate on a fixed rate 2nd on my rental property.

Value 400k
1st 103k
need about 150k loan
the unit (townhome - van nuys CA) in collecting $1995 rent

My scores are low 800 - high 700’s

I prefer stated and no rate buy down.
5 year term is okay. Thanks!

Re: fixed rate 2nd - Posted by Brian (WA)

Posted by Brian (WA) on April 03, 2007 at 24:38:47:


Before you jump into a fixed rate second consider a different approach depending on your short term and long term goals that might work to your benefit. Take a look at my website and review the concept that will give you more flexibility and control of your mortgage and financial position. Email me once you have had a chance to look at it.

Have a great day!

Re: fixed rate 2nd - Posted by Ben Carmona

Posted by Ben Carmona on March 30, 2007 at 23:51:47:


Before anyone on this board quotes you rates they should be doing some fact finding. It’s considered unprofessional as this could become very confusing.

Investment property financing can be a bit tricky and you’re probably already aware of all the changes in the market place.

First question would be, how lon have you had the property. Cashing out on an unseasoned property is not something all lenders will do.

Next, how much in liquid assets do you have that has been available over the last 2 months? Lenders have reserve requirements.

How many properties do you own?

These are just a few.

I have a great idea of which lender would be best suited but want to feel more confortable knowing all the facts.

Ben Carmona