Mortgage Rates - April 2015

[Account Closed]

Got a quote for a 30-year fixed at 5% with 20% down on investment property.  Does that sound about right?  My credit is excellent.

[Jerry W.]

My last loan was 4.5% but was told rates will increase a bit. I could probably get slightly better by shopping around but had a local bank give a loan to buy out my last local co owner in a REI company and had to restructure a lot of loans but got 4% on the big one so I am dam happy with that. I ran the margins a bit tight and put them all on a 15 year note with a 5 year ARM. I hope rates stay down for at least 3 more years or I may have to extend some loans to keep cash flow at break even levels. My credit in the 800s as well, but I do not think I can get better than 4.5% locally at the moment.