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+
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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.