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Updated over 7 years ago,
Interest rate comparisons, which is best way to go?
If I were purchasing a SFH as my first investment property outside of my primary mortgage, Is one of these options clearly a better way to go? Assume if I only put down 20%, i'd use the remaining cash to save towards my next investment home.
Sale Price: $120,000
30 yr fixed
Option A
Interest rate: 4.5%
Down Payment: $30,000 or 25%
Total Cash Required: $34,967
Option B
Interest rate: 4.625%
Down Payment: $30,000
Total Cash Required: $34,517
Option C
Interest rate: 4.875%
Down Payment $24,000 or 20%
Total Cash Required: $28,751
Also, is shopping around the only way to determine if your getting a fair deal? Thanks!