Looking for competitive loan offers

[Harrison Goldblatt]

Hello All,

I was looking for a loan on two cashflowing duplexes, ideally 30 year fixed. Lower down payment, and lower interest rate would be best.

The best option I was given was actually a 10/1 Arm.

Here are the terms:

- 75% LTV

- 8.15%

- $2450 origination fee

- $1050 processing fee

- 5,4,3,2,1 prepayment penalty

This duplex WILL cashflow, easily. Please let me know what you think about these terms and 10/1 ARMs in general. Thank you!

I live in Las Vegas, but the property is in Ohio.

[Robin Simon]

Quote from @Harrison Goldblatt:

Hello All,

I was looking for a loan on two cashflowing duplexes, ideally 30 year fixed. Lower down payment, and lower interest rate would be best.

The best option I was given was actually a 10/1 Arm.

Here are the terms:

- 75% LTV

- 8.15%

- $2450 origination fee

- $1050 processing fee

- 5,4,3,2,1 prepayment penalty

This duplex WILL cashflow, easily. Please let me know what you think about these terms and 10/1 ARMs in general. Thank you!

I live in Las Vegas, but the property is in Ohio.

 Credit Score?

DSCR? (Rent/PITIA)?

the big three factors that will determine the options regarding rate / fees are going to be driven primarily by LTV/FICO/DSCR