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Updated 9 months ago,
ISO Lenders: 30 Yr Fixed or......10/1 Interest only ARM?
I have been striking out in underwriting with 30 yr fixed rates, the math just isn't working out for me to make any cash flow and the debt service monthly expense is wiping out any NOI and thus my yield. So... I am considering pivoting to interest only loans with a refi plan. Problem is... I used to use Bankrate to see a wide variety of rate options for quick underwriting and that website doesn't allow me to get rates for the I/O ARMs for multi family rentals. I really want to understand how those rates are comparing today against 30yr fixed. What are they and where can I easily find them so I don't need to fill out any forms? Credit exceeds 830. Are any lenders giving out I/O ARMS with no points and are the rates lower than 30yr fixed? Any other creative financing or options?