Quick question about Investment property Interest rates..

[Sean Moore]

Would anyone happen to know if 7% the current going interest rate for investment properties financed through mortgage lenders /banks? I was told by a mortgage broker that's the best he give us with an 830 credit score?

[Nicholas Covington]

As a mortgage broker, I would like to say that there is a LOT of missing information from this post then just asking if a 7% is a high interest. Rate is not only based on credit score, whats your loan to value, what type of property is it, are you going conventional financing, are you doing full docs, is it stated income, is this a purchase, refinance, cash out, how much is the loan, etc... 

As you can see there are MANY things that go about determining if the rate is good or not and you really compare to others who say they got a lower rate without knowing if their situation is EXACTLY like yours.

I do suggest that you compare with others though.