Imagine interest rates drop 2% or more in 2 years.

I already have 2 loans on the property with great interest rates that I'm not looking to replace.

Although 3.1% is a great interest rate I tend to not get too caught up in keeping a property just because the rate is good.

Im really interested in buying some cashflowing rentals in Ohio, Indiana, Arkansas, maybe the Carolinas.

.: I just added up all my interest paid in 2024.

I bought a 3/2.00 home in Tampa, FL in April 2022 for $245k at a 4.75% interest rate, I still owe $210K on the loan, my RE agent thinks it could sell for $280k ($70k in equity).

You are likely overpaying by $5,000.Broker fee of $3,000 and Processing Fees of $2,000 seem out of place...but then again, i never used a broker to get a loan so I am not sure about that.If the broker was able to get you an interest rate or loan product that you wouldn't be able to find on the open market...its high, but likely fair.if you are getting a loan product that you could have gotten by going to a normal bank...seems high and unnecessary. 

Real Estate agent Alysa Bunting is a great contact in that area.

Existing home sales saw significant jumps in February and September/October 2024, both aligning with drops in interest rates.

Quote from @Lorraine Hadden: I have client who are try to wait for interest rates to come down rather than buying what they can afford for the best rate and hold.