Multifamily Mortgage Rate

[Chinki Kumari]

I am looking forward to buy 4plex and 8plex in South Bay Area CA. I am a bit confused about the type of mortgage to take (5/1, 7/1 ARM, 30 year fixed). On 7/1 ARM, I am getting around 2.5% on 4plex and 2% on 8plex. Wanted to check if they seem good. Mortgage rates are falling again, dropped by 10 points over last 1-2 weeks. Wanted to learn about other experiences on what are best avenues to get good rates and some of the recent rates they got recently.

[Chinki Kumari]

@Raju Balakrishnan There was a typo in my post. I meant 3% on 8plex. The 7/1 and 5/1 ARM rates are certainly lower than 30 years fixed. I have worked with BofA and First Republic but I am open to have a new banking relationship if can get a great rate.