Non-owner Occupied Interest Rates??
just curious what is a VERY ROUGH estimate is on a 3/1 ARM in CA. 10% down, non-owner occupied (rental), PMI. 5% range? 6%? 7%?
i'm just running some numbers to get an idea if i really want to do this.
any input would be greatly appreciated.
I just did a no ratio, 70% cash out on a condo for 5.375...
There are no standard guidelines for non-owner occupied loans. Most of these are portfolio. You can not compare apples to oranges. They are based on credit history, credit depth and reserves for stated. If full doc than job jhistory and debt ratio come into play.
Lori
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Well said Lori.
John
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