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Old 03-03-2014, 11:25 AM
Location: North Idaho
30,293 posts, read 41,442,839 times
Reputation: 69141


Additional information: I consider 4.125% to be very cheap money.

I advise against variable rate. At this point, there isn't much room for rates to go down, and there is a whole lot of room for them to go up. With the "we aren't having any inflation" that we are suffering from right now, the Fed is going to have to jack up rates at some point or another.
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Old 03-03-2014, 01:51 PM
Location: Austin
7,238 posts, read 20,599,011 times
Reputation: 9988
Originally Posted by Luvmom611 View Post
Whether to go for 3.125% 15 yr vs 4.125% 30 yr mortgage for a rental investment property (200K worth) ? Thank you
Originally Posted by Luvmom611 View Post
AND my original post and question was if there is a 1% difference in interest rates between 15 yr and 30 yr , which one is better option if investment property. Whatever be the rates, be it 3.15/3.5 or 4.15/4.5 or something else.


Falconheadwest - can you please not respond to my thread. I don't find any of your responses useful/answers my original question
First, I can respond to whatever threads I want and you can't stop me. I'm sorry you don't feel my information helpful, however when other people read this and see someone getting an "investment" loan for less than their primary residence loan, they're going to question it, and it's best to have the answer here, that the rates you quoted are not for investment properties.

Second, as quoted above, you clearly did NOT just ask if 1% difference was a better option. You gave specific rates for the terms when you asked which was better, and I was not the only one who called out that your rates were unrealistic.

And once you actually tell your lender that this is for investment purposes, you're going to see about 5% as your rate for a 30 year loan. Are you then going to cry because all the numbers you ran were based on a false number? If you're going to run numbers to see what a good investment is, you need to have the facts, and the fact is that you would not see 4.125 or 4.5% as an investor. As a future investor, it's not wise to calculate investments with "head in the clouds" numbers.
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