4.75% for 30 years on $262,500 with 25% down? Should I shop it?

[Adam Witek]

I'm purchasing my first 4-unit and I have preapproval for 4.75% for 30 years on $262,500 (after my 25% down payment). My credit score is 740.

The mortgage broker said the interest rate is higher than I'd expect because it's a 4 unit. What are your thoughts?

[Adam Witek]

Thanks everyone! I was able to get 3.625% for 30 years with 25% down and I bought it down to 2.99% for an extra $5,000 which I should make back in 25 months :)

This will save me $528 a month!!!!!!! I never knew “shopping” for a mortgage was so easy......total game changer.