Current SFH interest rates

[Sean Elliot]

Hi,

Could anyone shed light on a good rate today.  6/30/2023

SFH 25% down strong credit

Long term rental

30 yr fixed

No points

Thank you

[Doug Smith]

According to Mortgage News Daily, the OWNER-OCCUPIED 30-year fixed-rate loan national average is right at 7%. We're a bit lower, but you're asking about investment property, which will carry a risk premium. Those are running in the lower 8%s right now for DSCR and tip-top 7%s for Fannie/Freddie. You mentioned a 30-year fixed-rate with no points. That's likely going to be a full-doc Fannie/Freddie deal. Although some have no-point options, most have 1-5 year prepays that will adjust the interest rate depending upon the option you choose. Also, many savvy investors know that loans rarely go anywhere close to 30 years, so they often save money on the rate by opting for 5, 7, or 10-year ARMs. You have a lot of options. Here's where the owner-oc rates are right now (give or take depending upoin the lender and program).