Looking for better financial options for an investment property.

[Agustin Conti]

Hi, I do have 2 rental units doing well in dif. states (I am from Florida) and I am looking to buy a Single Family Home for LTR in the Greenville Area of SC. I know these are not the best times for getting good financing deals and interest rates but I am ready to to move on and planning to refinance as soon as things get better. I have a credit score of 815-825, I am currently pre-approved for a 30-year fixed loan with 20% down payment at the following rates: (with an online bank) 

8.125% Rate
8.708% APR

Plus! 3.4 points ($7,648) These numbers are crazy specially compared with 2 years ago when I got the 2 properties I have under 3% each.

IF the numbers allow for self support and or minimal cash flow I want to go for it and refinance later BUT the question is:

Is there realistically anything better than this out there? as of now (AUG 23) if not, when is the expectation for these numbers to get better?

Thanks a lot!

[Robin Simon]

Quote from @Agustin Conti:

Hi, I do have 2 rental units doing well in dif. states (I am from Florida) and I am looking to buy a Single Family Home for LTR in the Greenville Area of SC. I know these are not the best times for getting good financing deals and interest rates but I am ready to to move on and planning to refinance as soon as things get better. I have a credit score of 815-825, I am currently pre-approved for a 30-year fixed loan with 20% down payment at the following rates: (with an online bank) 

8.125% Rate
8.708% APR

Plus! 3.4 points ($7,648) These numbers are crazy specially compared with 2 years ago when I got the 2 properties I have under 3% each.

IF the numbers allow for self support and or minimal cash flow I want to go for it and refinance later BUT the question is:

Is there realistically anything better than this out there? as of now (AUG 23) if not, when is the expectation for these numbers to get better?

Thanks a lot!

Can you clarify the difference between the rate and APR structure? shouldn't these be the same? I think if that is truly your credit then you can probably find some better options here on BP