What can I expect for interest rates and points for an investment property (or nearby 2nd home) for a 30 yr. fixed rate conforming loan with more than 25% down, as compared to the rate and points I could get for a similar loan for a primary residence? For instance, I’m seeing rates around 5.25% with 0 pts. for primary residence conforming loan with 20%+ down. All else being the same, what would I expect for the “investment” real estate loan? thanks
real estate investment loan rates?
12
Mar
Steve
March 12, 2010 at 3:27 pm
I see you may be new to investing.
The type of information you prode is more as to the type of loan you are seeking. All I can say is that investment loan generally cost a percent or two more than owner occupied.
A most important part of extending credit is the customer, his credit rating, past experience. That information is critical, not only as to the rate, but as to whether you get a loan or not.
Another important aspect is the cash flow pojection for the property. You will find that generally all expenses must be counted, but only 75% of the rent will be counted.
Did you know that you may be able to acquire this property in you qualified plan.