What rates are you getting on SFH rental properties?

[Michael Pouliot]

Hello Everyone,

Apologies if I am posting this in the wrong area of the forum.

I am trying to find out what rates and terms lenders are offering on fixed rate rental properties (non-owner occupied) in your area.

Mostly, my local credit unions are not willing to take the interest rate risk and are offering mostly ARMs out to 5 or 7 years with 20 or 25 yr amort periods.  Some of the nationwide investor programs (asset avenue etc) I am seeing 30 year amort, fixed, in the mid to high 6s.  

Ideally,  I am looking for 20-25% down, with a high 4s low 5s rate, with no seasoning period. What are you all finding?

Thanks

[Jeff B.]

From what you show, it appears that you are being offered a Commercial Loan, ask for a Consumer or Residential Loan.