First investment property 5.25% score on 763 credit score

[Milos N.]

I am getting a loan for one property now talking to three different lenders they all tell me 5, the only one that was precise told me 5.25.

I have no debts whatsoever high salary, no dependents, no mortgages, nothing and a credit score of 763

One of them told me that I am getting a hit because the amount (home is priced at 75k and im likely to pay it 62 or so). I asked them would the rate be better if I buy a more expensive home. Still waiting for a reply.

Is all this normal? People are usually talking about 4.3 rates and such.

Has something happened?

[Caleb Heimsoth]

Milos N. The days of 4.3 percent investment properties loans are behind us. We’re in a rising rate environment and I think at this point 5 percent is a good rate.

I read mortgage rate predictions for end of this year and next year and it goes into the 6 percent range.