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Updated about 8 years ago, 10/31/2016
HELP!! Need Advice for Mortgage for investment property
Hello,
I am in the process of purchasing a multi-unit property. I need help in deciding which mortgage to choose out of the options below. Please give me specific answers keeping in mind that all other terms are the same for all of the options below.
1) Bank A
Fixed interest rate = 4.375%
Fixed Period = 5 years
Repayment Loan term (balance due in) = 5 years
Amortization = 15 years
2) Bank B
Fixed interest rate = 4.5%
Fixed Period = 5 years
Repayment Loan term (balance due in) = 15 years
Amortization = 15 years
3) Bank C
Fixed interest rate = 4.7%
Fixed Period = 5 years
Repayment Loan term (balance due in) = 20 years
Amortization = 20 years
4) Bank D
Fixed interest rate = 5.35%
Fixed Period = 10 years
Repayment Loan term (balance due in) = 20 years
Amortization = 20 years
Thanks,
Saran