All Forum Posts by: Jana Nakamura

@Kenneth Garrett Good to know! Thank you, I haven't looked into too many local banks so I'll do that! :) 

@Account Closed Thanks for responding and sharing your experience as well! These rates were not quite what I was expecting, but I guess it's reasonable right now.

@Lisa Eckman Since we were expecting less, we didn't lock in the terms yet. So, you're right that it may be too late now. Thank you for your advice, I'll definitely discuss w/our loan officer!

@Lucy Smi Thanks for your input! Definitely will shop around a bit more :) 

Hello! My husband and I are in the process of acquiring our first rental property. Just got the documents from the mortgage company and were surprised by the loan terms. The conventional loan we're applying for is ~$82k and we were offered a rate of 5.375% with 2.4 discount points. Is this reasonable? Through our research, we saw that rates for investors were 0.25 - 0.75% higher than rates for primary residences, which we expected to be around 4% with 0 points at this time.

Hoping someone can shed some light if this is normal or what to expect? 

Thank you! :)