You'll be pretty limited in options here due it being a rental property and an assignment. Rates will be higher than what would be had if you were owner occupying the property and if we didn't have to deal with the assignment as well. Many lenders are not interested in them. Rates would range from around 2.59% on a 2 year fixed to around 2.89% on a 5 year fixed. Variable would be around 2.50% (prime -0.20%).Jeremyl007 wrote: ↑ Hi, looking for some rate options for a rental property of mine. Closing is Jan 17.. I'm buying it off a distressed seller who can't close after they bought it pre-construction back in 2011. Mortgage amount 432,000 and that's 80% of the the purchase price so I have 20% down already. Looking at 2, 3, 4 fixed or even variable for more flexibility.
Anyone have information for rates for this kind of situation?
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