Current Interest Rates

[John Claborn]

Does anyone know current traditional mortgage rates for 15 and 30 year notes in Lubbock, TX? Typically, I BRRRR with ARV loans through a local bank for our investment properties, so I'm not up to speed on traditional mortgage rates. Before I start calling banks, I'd like to hear if anyone has any numbers from recent deals. Thanks!

[Tricia Vitela]

@John Claborn my most recent deal was at 5.6%. Closed last Friday. :)

[Cameron Lambo]

Hey John,

I work for Prime West Mortgage and we would be happy to speak with you. Everyone on the team I work with owns rental properties and we love to talk with other investors. No commitments or strings attached. 

Honestly it depends on several factors. (Loan program, term, credit score, etc) just for hypotheticals, say your looking at a 30 year conventional on your primary residence with 720 credit, rate could be ~4.75-5.125% FHA is typically a little lower. We would be happy to pull pricing for you or give you some estimates.

Feel free to message me for some more details!