Am I getting a good loan?

[Tuna Sakallioglu]

Hey everyone! I'm just getting started in my real estate investment journey and looking to buy a property in Lehigh Valley area in the upcoming months. I already got pre-approved from couple lenders and was wondering if these rates are good or whether I should keep searching.

Property I'm looking for: Small-multifamily (most probably fourplex), not planning to live in it

Best loan I found so far: $265K loan + 90K down payment, 15y fixed, 3.00% interest, 25% down

Do you guys think I should be able to find any options with lower down payment or lower interest rate or a 30y fixed?

[Jason Wray]

Tuna,

I am a big fan of putting less down and letting the bank do the funding.  You can get a 20% down option and that would come with a 30 year fixed.  The 30 Year fixed is also a good rainy day option that allows you to pay as much as you want or can per month but not obligated to pay the 15 year payment every month.  Rates are also available as interest only as ell just in case.