Rising interest rates

[Devine Fletcher]

Hello all, I’m working on purchasing my first rental and wanted to know what interest rates others were possibly getting during this time in the market. Don’t really feel mine is being justified at 4.75%. It is my first rental but still seems a bit high in this market.

I have a 782 credit score. The home is in a B+ neighborhood in NJ and appraised higher than our agreed purchase price. I plan to refinance/cash out in 6 months, but never know what the future holds and may not go as planned. Just want to keep my options prime if everything doesn’t unfold accordingly to plan. Or am I just nit-picking??

[Dean Klein]

@Devine Fletcher I'd talk to another lender and see what rates they can offer you. My last two investment properties I bought back in Sept 2021 I got 3.375% rates on, but I know they've gone up since then.