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mortgage rate for investment property

Started by realtime
about 13 years ago
Posts: 108
Member since: Feb 2011
Discussion about
bought a condo apartment as an investment property. It will be a strictly rental unit. Closing in 30 days. Any clues for the going rates? (0 points). Was quoted 4.2% and have not seen anything in the mid 3%. Thanks.
Response by streetsmart
about 13 years ago
Posts: 883
Member since: Apr 2009

Realtime ,

I will check and get back tomyou.

Ellen Silverman
E.S. funding Co.
esfundingco@aol.com
www.esfundingco@aol.com

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Response by gcondo
about 13 years ago
Posts: 1111
Member since: Feb 2009

nothing like putting the cart before the horse.

how did you perform your ROI and cash flow without knowing an interest rate?

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Response by mym
about 13 years ago
Posts: 188
Member since: Jun 2009

same question-am buying condo as investment-called residential property which is not my primary residence-what are best rates for loan under 417?

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Response by gcondo
about 13 years ago
Posts: 1111
Member since: Feb 2009

it is probably easier to call a bank than to post here and wait for an accurate answer, but when you find out, let me know I might refinance.

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Response by jaesee
about 13 years ago
Posts: 41
Member since: Feb 2011

hey realtime,
we just closed a couple months ago on our last investmetn condo and got 3.875 from wells fargo

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Response by gcondo
about 13 years ago
Posts: 1111
Member since: Feb 2009

3.875, for which product?

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Response by streetsmart
about 13 years ago
Posts: 883
Member since: Apr 2009

If you're closing in thrity days and haven't gotten a mortgage, it's hard to believe you will get a mortgage in time to close.

That said your rate has a lot to do with the LTV and your fico score and of course the loan amount.

Ellen Silverman
E.S Funding Co.

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Response by realtime
about 13 years ago
Posts: 108
Member since: Feb 2011

ellen- I have noticed that occaisonally you are trying to solicit buisness on SE but you tend not to provide any information. the specific question was what is the current rate for 30 years investment property. Of course i already have a committment and a rate locked.I wanted to find what other banks are doing. One can always change closing date for a better rate. In my experience most seriouse banks can do the turn around in 30 days or slightly more. it seems like you are a mortgage broker who is unable to deliver. Time to change job?

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Response by unsure
about 13 years ago
Posts: 79
Member since: Dec 2009

Realtime: That was rude and unnecessary.

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Response by w67thstreet
about 13 years ago
Posts: 9003
Member since: Dec 2008

Ellen got two holes. Only one of which is useful. But then again that can be said of all shills on se.

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Response by gcondo
about 13 years ago
Posts: 1111
Member since: Feb 2009

ellen lol.

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Response by lovetocook
about 13 years ago
Posts: 171
Member since: Sep 2010

The rates are constantly changing so whatever rate is posted doesn't mean you will necessarily get that rate. I closed last month on investment property for 3.5% one point 10 years fixed. A week earlier if I had locked my rate would have been lower.

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