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Updated over 5 years ago on . Most recent reply

Account Closed's profile image
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Account Closed
  • from Dyersburg, TN
  • Member since Mar 30, 2019
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Account Closed's profile image
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Account Closed
  • from Dyersburg, TN
  • Member since Mar 30, 2019
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Account Closed
  • Dyersburg, TN
0
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Personal Finance

Loan interest rate for rentals

Account Closed
  • Dyersburg, TN
Posted

Hey BP have a question. Is 6.15 fixed interest rate too high for rental properties investment?

That’s what my local bank offer to me.

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Anthony Dooley's profile image
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Anthony Dooley
  • Investor
  • from Columbus, Georgia
  • Member since Jul 29, 2014
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Anthony Dooley's profile image
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Anthony Dooley
  • Investor
  • from Columbus, Georgia
  • Member since Jul 29, 2014
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Anthony Dooley
  • Investor
  • Columbus, GA
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Anthony Dooley
  • Investor
  • Columbus, GA
Replied

That is about right for an investment property loan. If rates decrease next year, it may be worth refinancing. I assume it is for a 15 or 20 year amortization. This is normal as of today.

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