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Posted: 5/14/2020 10:00:27 AM EDT
My mortgage broker retired and other guys want too much personal information before answering a simple question.
I'm thinking about refinancing a non owner-occupied  three family house.
What are the mortgage rates for investment properties these days? I'm interested in 30 year fixed, maybe 15 year fixed.
If it matters, it's in 01605, valued about $320k, the balance is about $160k.
Credit score is 800+
Link Posted: 5/14/2020 10:18:13 AM EDT
[#1]
Call your credit union and ask
Link Posted: 5/14/2020 10:31:07 AM EDT
[#2]
Most likely around 5% for non-owner occupied investment property.
Link Posted: 5/14/2020 11:34:53 AM EDT
[#3]
Quoted:
My mortgage broker retired and other guys want too much personal information before answering a simple question.
I'm thinking about refinancing a non owner-occupied  three family house.
What are the mortgage rates for investment properties these days? I'm interested in 30 year fixed, maybe 15 year fixed.
If it matters, it's in 01605, valued about $320k, the balance is about $160k.
Credit score is 800+
View Quote


It may be a struggle, I haven't had a new mortgage on an investment property in a long time but pretty much only BOA was doing them at one point (20yr).  When we had a new regional try to get a foothold in our market you could get one, I got one this way before.  All of mine have have been on Prime +.25-1% adjustable loans with 5yr balloons and 15 or 20yr amortization schedules for the ones in LLC.  Our local credit union offered there 2yr ARM (with 30yr amortization) product for them, so have one of those, but has to be personally owned not in LLC.

edit: Following the thread through, because of changes to standard deduction it's much better to have house paid off on finance investment property instead.
Quicken 4.741 30yr fixed 4.319% 15yr fixed is all I could find online, much higher closing costs and pretty much the same as a adjustable will like stay around.
Link Posted: 5/14/2020 2:17:33 PM EDT
[#4]
I just got a quote for 20yr, 5 fixed at 4.07, then variable after.
Link Posted: 5/29/2020 4:05:13 PM EDT
[#5]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Most likely around 5% for non-owner occupied investment property.
View Quote


I'm starting to put together a deal right now and 5% is the rate I'm assuming until I get a little farther down the road.
Link Posted: 5/31/2020 2:51:14 PM EDT
[#6]
Long term fixed rate on investment properties are hard to get. Typically I'm seeing adjustable rates after 7-10 years or I'm getting
fixed rate 7-10 year notes in the 5-6% range. An investor friend of mine does much larger deals than me. He's able to get portfolio mortgages on millions of dollars. He claims they are fixed in the 4% for 20 year range but I've never seen the paperwork to prove it
Link Posted: 5/31/2020 11:03:53 PM EDT
[#7]
Fixed 30yr is all I am interested in and have been quoted 4.675 on my refi next month and the two properties I bought Wednesday.
Link Posted: 6/4/2020 10:04:03 AM EDT
[#8]
@PreachermanMATT is a mortgage broker and may be able to shed some light.

Link Posted: 6/4/2020 5:12:44 PM EDT
[#9]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Fixed 30yr is all I am interested in and have been quoted 4.675 on my refi next month and the two properties I bought Wednesday.
View Quote


Just locked in at 4.375%.
Link Posted: 6/5/2020 8:12:40 AM EDT
[#10]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Just locked in at 4.375%.
View Quote



Impressive.  Who was it with?
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