My mortgage broker is saying that the rate on rental Fannie Mae ARMs is very bad compared to 30yr/15yr fixed.

My local portfolio lender has been great with me....We financed 3 properties through fixed rate conventional mortgages then we went on the commercial side and have done about 7 ARMs. 

It's a two-family (2/1 and 2/1.5) that we bought for $315 with a 5% down FHA 5/1 ARM at 3.75% in August.

Anytime,As a side note, you will see most of the product from hedge funds in FL, OH, IL, MI, NC, SC, TN, NY, NJ, TN, KY, AL, MS, LA, AR, MS, PA & KS.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookTo find out about an area go to IREM.org search for ARM certified property managers.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookTo fin d out about an area go to IREM.org search for ARM certified property managers.

Good Morning...I'm closing on my first investment property and opted for the 3.75%, 7/1 ARM, over the almost 1 full point higher 30 year fixed. 

I'm talking 9 armed robberies in 9 hours bad http://www.nola.com/crime/index.ssf/2015/08/9_hours_in_new_orleans_11_vict.html.  

So far I've gotten two loan quotes, one conventional 70% LTV, 30 year amortization, with 5% interest and another commercial lender who will do 80% LTV, 20 year amortization, 5% interest, with ARM in 3 to 5 yrs. 

I'd get people who didn't "get" the idea of an answering service and try to strong-arm the call taker into contacting me directly.People would hang up, call back, hang up, and then leave nasty messages to the effect of "I've tried to reach Jeff several times but he hasn't returned my call."