Real Estate Bank Lenders
The best way to get the lowest interest rate on a mortgage for investment properties is through a bank lender. The fees involved are the lowest if you take the time to compare among different providers, so you won’t have to worry about getting an unfair rate. As long as your average credit score from all three credit agencies is 620 or above and you meet all other requirement guidelines from your bank you should have no problem receiving the mortgage loan for your investment property.
If your credit score is lower than 620, you may have to apply for a non-conforming loan through a financial institution. Shop around at different financial lenders so you can receive the best rate. When you deal with these type of lenders, the difference can be as much as 2% points or more between one lender and another.
We recommend doing your research on the current interest rates offered by the banks and financial institutions to get the lowest rate on the market for investment properties.
For more information on this subject, please visit the Federal Trade Commission at Looking For The Best Mortgage: https://www.ftc.gov