What Terms/Rate Did You Get on Your Recent QM Investment Loan?

[Wesley Pittman]

Howdy BP,

I have a duplex in a 1st Lien HELOC that I'm looking to refinance into a regular 30-year mortgage. The HELOC product is a really powerful tool and I'm super psyched on it in the right scenarios, but for my personal circumstance right now I think it would make more sense to lock a fixed rate and get off variable. My HELOC is with US Bank and they offered me the option to go fixed at 6.5% for the next 20 years which is clearly not enticing so I'm hunting for good, cheap investment loans.

The property is titled in my wife and I's family trust, but we would like to move it into an LLC for asset protection. I'm fine with full recourse if necessary to get a decent rate. The property is in Nevada which is technically a brick/mortar lending state, but that's not a huge concern to me. I've had loans in the past with companies that didn't have a physical presence here.

Who have you guys recently closed loans with that you were super happy with, and what were the terms - points/fees and rate - most notably?

Thanks!