need advice on today’s mortgage rates?

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what would be a good rate today in getting a mortgage? purchase price$ 220.000. investment property. 20% down payment . 30 years. $ 170000 mortgage loan . thank you for your response. location is in SANTA MARIA,CA,93458

4 Comments
  1. Reply
    Debdeb
    February 3, 2011 at 11:35 am

    Investment property has a higher rate than owner occupied. You may need to put down 25%. If you could get around 5%, I’d think that would be a good rate. I tried looking up our current investment rates, but I’m in the reverse mortgage division and that’s all I can access.

  2. Reply
    xenonme
    February 3, 2011 at 12:34 pm

    I’m a long term real estate investor, you should remain on the sidelines for many years. Buying investment property in CA, is like playing hike stakes poker. Rates should not be a factor for an investor.

  3. Reply
    the kid
    February 3, 2011 at 1:26 pm

    20% down and good credit should get you around 4.5%

  4. Reply
    Tim
    February 3, 2011 at 1:27 pm

    Assuming that you have a 740+ credit score and you’re buying a single family residence you’ll be looking at a 30 year fixed rate around 4.875%

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