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Updated over 6 years ago on . Most recent reply
What's my best lending option for this duplex?
My offer just got accepted for a Duplex in Atlanta with a cap-rate of 8.5. I'm still relative new to REI and I'm not aware of the best options out there for financing a multi-family.
The property price is around $150k and I'm going for a 25% downpayment. So far I've spoken to only one lender and the best they offered was 6.25% for 30 year fixed without points. This seems quite high to me given that my credit score is 750+. Is this a fair rate? What are my options here. Please help! Thank you.
Most Popular Reply
You could find a mortgage broker as well and see if they can find you a better rate. You'll pay extra for the broker, but it will save having to knock on several bank doors.
Is seller financing an option?