Posted by Roger on December 30, 2002 at 22:57:38:
Thanks for the input… Appreciate it. Its my second investment and wanted to run some real life numbers tonight to see how its looking. Let me know if you need anything.
help! average investor loan rate for a duplex ? - Posted by Roger
Posted by Roger on December 30, 2002 at 18:36:10:
I own 2 and would like to add another duplex to my portfolio. What is a rate I can expect?
Thanks!
Re: help! average investor loan rate for a - Posted by James Strange
Posted by James Strange on December 30, 2002 at 19:18:13:
Depends,
Upon your credit history, purchase price, how much you will put down, ARM or fixed, will you buy down the rate, location etc.
Re: help! average investor loan rate for a - Posted by roger
Posted by roger on December 30, 2002 at 20:03:49:
credit history (excellent) purchase price 90k, how much you will put down 10%, ARM or fixed =fixed, will you buy down the rate =possible, location etc =ohio
Re: help! average investor loan rate for a - Posted by Dave T
Posted by Dave T on December 30, 2002 at 23:03:52:
Why don’t you call several lenders in your area? You comparison shop for loan rates and terms just like you would for any major purchase. I shopped for a 5/1 investor ARM a couple weeks ago, and got quotes ranging from 5.625% with 2 points, to 6.5 with zero points for the same loan amount.
I called three lenders who would loan on the property in question, ran the numbers and selected the rate and term that fit my plan for the property. By the way, a 6.0% rate with one-half point gave me the best result for a three to five year holding period.
Re: help! average investor loan rate for a - Posted by James Strange
Posted by James Strange on December 30, 2002 at 22:18:12:
Here is a good number for you to try and beat without buying down the rate 6.625. If you shop you might be able to beat it.