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Updated almost 2 years ago on . Most recent reply

User Stats

107
Posts
27
Votes
Jeremy Clarke
  • Investor
  • Denver CO, USA
27
Votes |
107
Posts

Can I use my current interest rate rate for another property?

Jeremy Clarke
  • Investor
  • Denver CO, USA
Posted

Hello Gurus, this question may sound a bit odd but I have to ask. Here's my situation. I own a couple of homes in Denver. Both are now rentals. For one of them, I'd like to sell it to purchase another house, as my primary residence, in Denver in an area of town that i's prefer to live in. I currently have a loan on that property for 4.5% with a mortgagor. I know that my interest rate is tied to this house, but does anyone know if a lender would consider letting me sell that house and transfer the rate to a new address? Right now with my situation, I'd be looking at purchasing with an interest rate of 9.3% and that's just crazy. Appreciate direct answer as well as other creative solutions.

Most Popular Reply

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9,861
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5,552
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Eliott Elias
  • Investor
  • Austin, TX
5,552
Votes |
9,861
Posts
Eliott Elias
  • Investor
  • Austin, TX
Replied

This is not possible. A 9% interest-rate seems high.

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