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Updated over 7 years ago,

User Stats

55
Posts
8
Votes
Kenny M.
  • Yonkers, NY
8
Votes |
55
Posts

Tough time getting a good rate

Kenny M.
  • Yonkers, NY
Posted

I purchased a 20 unit building around New Haven and I have been having a bit of a tough time with the rate. My FICO is around 790, I purchased it for cash, and now I am trying to cash out. It spits out about $140k per year and profitable. The best rate I can receive thus far is around 6.8% with a 5 year ARM based on a 30 year amortization. I have other properties and have been doing this for a few years. However, this is the first time I've attempted to get a loan and it's a pain.

Any suggestions on what to do?

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