Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

11
Posts
6
Votes
Jonathan Lubenko
Pro Member
  • Rental Property Investor
  • Fiddletown, CA
6
Votes |
11
Posts

Mortgage rate too high?

Jonathan Lubenko
Pro Member
  • Rental Property Investor
  • Fiddletown, CA
Posted

I'm looking to buy my first rental property and I just got pre approved for a conventional loan for 100,000$ through a recommended broker in the area. Everywhere I look online I see interest rates ranging from 3% to 5% but my broker sent me an approval for a loan with 6% interest. I have good credit (700+) and no derogatory marks on my credit report. Should I be okay with a 6% interest rate or should I go back to my broker and tell him to keep looking? I've run the numbers on a deal with the different rates and it could be almost 100$ difference if I had a rate around 3-4. Let me know what you think.

  • Jonathan Lubenko
  • Loading replies...