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Updated almost 5 years ago on . Most recent reply

Jason Tu's profile image
Jason Tu's profile image
Jason Tu
  • from San Francisco, CA
  • Member since Jan 10, 2017
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Jason Tu's profile image
Jason Tu's profile image
Jason Tu
  • from San Francisco, CA
  • Member since Jan 10, 2017
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Jason Tu
  • San Francisco, CA
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Private Lending & Conventional Mortgage Advice

[CA] Reasonable Rate for First Investment Property?

Jason Tu
  • San Francisco, CA
Posted

I’m looking at buying my first investment property in Sacramento and I recently got a preapproval from Wells Fargo for $350000. The 30 year rate is 4.875%. I have a 750+ credit score, no debt, and my monthly expenditures amount to about 10% of my income.

I was wondering if this sounded reasonable, or if I should shop around some more? Should I chat with a mortgage broker or keep looking at banks one by one?

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