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Updated over 1 year ago on . Most recent reply

Ravikanth Reddy's profile image
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Ravikanth Reddy
  • Member since May 10, 2023
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Ravikanth Reddy
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Multi-Family and Apartment Investing

Finding lender for multi family

Ravikanth Reddy
Posted

Hello Fellow Investors,

Planning/looking to buy a multi family property and looking for lenders. During our personal home purchase it was fairly straight forward and easy. For rental/investment property purchase whom should I be reaching out to ? 

We expressed interest for one property last week, listing agent connected us with a lender, but the terms are 25% down, 8.65% APR with a floor of 6.25%. Is this a good deal in current market ?

Appreciate any input/feedback. TIA. 

Houston, Texas
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Darnell Lockett's profile image
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Darnell Lockett
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  • from Miami
  • Member since Mar 8, 2023
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Darnell Lockett's profile image
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Darnell Lockett
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  • from Miami
  • Member since Mar 8, 2023
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Darnell Lockett
  • Real Estate Consultant
  • Miami
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Darnell Lockett
  • Real Estate Consultant
  • Miami
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Hi @Ravikanth Reddy. Without knowing what loan program they quoted you on, it’s hard to say if the rate is good or not. Are you being charged points? 

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