Financing in San Francisco>Question Details

Eric Wu, Home Buyer in Russian Hill, San Fr...

What is the current interest rate for a 30 year fixed mortgage on an investment property?

Asked by Eric Wu, Russian Hill, San Francisco, CA Wed May 9, 2012

Great credit, good income to debt ratio, 25% down.

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5
Gregorio Denny’s answer
"Thanks Greg,

But I spoke with a mortgage broker who sits in my office and he can get a better rate from a lender with more down. Maybe this forum is not for bashing others opinions. I'm glad you have access to every lender."
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Matthew, I am not bashing anyone, I am merely clarifying what are well published conforming guidelines. I don't need "every lender" to know and understand what is a well known Fannie Mae / Freddie Mac fact. If you have a lender that offers better rates @ 70% LTV than at 75% LTV it's NOT a conforming lender and thus will have higher rates anyway.

Thank you.
0 votes Thank Flag Link Thu May 24, 2012
Thanks Greg,

But I spoke with a mortgage broker who sits in my office and he can get a better rate from a lender with more down. Maybe this forum is not for bashing others opinions. I'm glad you have access to every lender.
0 votes Thank Flag Link Thu May 24, 2012
Matthew says: " you may also get a better rate at 30% down as it is an investment property. "
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This is untrue. There is no pricing difference on an investment property between 70% and 75% LTV. Putting 30% down vice 25% makes no difference to rate. There is a 1.25% pricing adjustment between 75.01% and 80% LTV.

Always speak with a licensed mortgage loan officer for mortgage financing facts.
0 votes Thank Flag Link Thu May 24, 2012
Hi Eric,

The answer will depend on your circumstances and the property, you may also get a better rate at 30% down as it is an investment property.

Speak to a mortgage broker.
0 votes Thank Flag Link Thu May 24, 2012
No one should be giving you a rate quote without knowing the entire picture. You have not given enough information for ANYONE to quote you a rate and you should be suspect of anyone that does, especially when quoted without the federally mandated APR to go with it.

Apply with a licensed loan officer and get an actual quote specific to your situation.
Web Reference: http://HarpSupport.Com
0 votes Thank Flag Link Fri May 18, 2012
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