What do you think of this loan? Is it a good deal?

[Yoni R.]

I need all the opinions I can get on this one before I make a decision. I purchased a SFH 2 months ago for $150,000. After going back and forth with Quicken Loans for "delayed financing" I just got a call from the agent and he offered me the following for my SFH which is registered under an LLC.

15 year loan

$138,700 is the loan.

$6,700 closing costs (which is factored into the loan) for a total of $145,400.

Interest on the loan is %4.875

Upfront costs are only $500 appraisal fee.

$3,000 in escrow for taxes and home insurance.

Monthly payment will be $1,375 which includes taxes and insurance figured in.

The monthly rent is $1,650 so that will leave me a cash flow of $275.

To remind everybody this is a SFH that I purchased 2 months ago and should be appraised at around $210,000. The house is in an LLC.

What do you think? Does it sound good? Should I go for it? Is there anything I should ask? Am I missing anything?