Interest rate for long term rental loans?
I am considering buying a house in a suburb of Dallas. I've been working with a Real Estate Agent and has some good possibilities. What I wish to do is buy my 5th rental, and potentially several more in the next couple of years in that area. I am seeing rates in the high 7% area. With a 50% downpayment so I can cash flow this next purchase, I am wondering where would I be rate-wise with me owning 4 rentals now plus my own home in Austin. Credit score is a little low at 691 but only because I have a lot of credit. No late payments ever. I am not filling anything out but with the information I just provided I would love to learn how low you all may be able to go on interest rate for me?
Replies to This Discussion
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Permalink Reply by Alex Williams on
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Today you would be at 7.2%. I sent you a PM with more information.
Alexander Williams
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Permalink Reply by Monty Yeager on
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With that credit score you are looking at 7.52% for a 30 year DSCR loan. If you can wait until you raise your credit score above 760, you would be looking at 7.225% for the same loan.
Give me a call if you have questions. My name is Monty and I own this website. 208-794-7430
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