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Current 15 and 10 year fixed rates on rental property?

1,364 Views | 8 Replies | Last: 6 yr ago by Lone Stranger
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SteveBott
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AG
Texas?
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SteveBott
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Not many mortgage guys can quote Utah but who knows.
SteveBott
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Loan amount?
Lone Stranger
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Same thing but for $100,000 in College Station for condo/townhome.
SteveBott
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AG
Doubt you will like current market. I will not quote with this little info. My contact info is in my profile if you want a specific offer.
proudaggie02
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AG
Are you not considering ARMs? I believe I was quoted 3.4% for a 5/1 a few months back.
Jay@AgsReward.com
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condo;s can be quite different then single family homes or even townhomes. The project gets underwritten just as hard if not hared then borrower. Not usually an issue if it is your homestead, but can be tricky if it is an investment property.
Lone Stranger
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I'm local and need a place (not in my house) for my twins while going to A&M so not strictly a straight up rental investment but not owner occupied either with extra bedrooms. Is their a jargon label the industry uses for underwriting a parent owned property that is different from a rental?

Would have been nice if they were a year younger to see if prices in general soften a year from now like rents seem to have this year. I know several parents around the state looking to unload BCS properties they got for their kids 10 years ago and then continued to rent them. They aren't getting the money they were or aren't getting them rented and want out to put their money someplace else. I could do a cash deal but would be more interested in going 50% down. Am I attractive to the underwriters to get a deal done at some level?
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