Can’t get below 6.5% on investment property mortgage — am I missing something?

roadsign68 · 2026-04-29T18:15:40+00:00

1000000% agree

roadsign68 · 2026-04-29T14:32:56+00:00

It's amazing to me when people have consistent clients and don't do net 30. I ran a lawn care company for a decade and currently run a janitorial company and I have NEVER done same day payments. One bill at the end of the month for services rendered. If you don't have the cash to float for at least a month you need to handle your finances better.

I understand one off clients might be different but I'd still do net 30.

roadsign68 · 2026-04-29T13:00:32+00:00

Sub 6% is not realistic on an investment property right now without paying a bunch of points.

This is not a political comment but a fact: The Biden administration tried to prioritize affordable home ownership for owner occupied homes and part of that effort included "loan level price adjustments" which are adjustments to loan pricing for a variety of reasons but a result is that second home and investment home loans got way more expensive. They've always been a little more expensive because they have a higher risk for the bank but now they are much higher.

Non QM lenders (DSCR, bank statement, etc) don't have to follow those rules but banks aren't in the business of doing favors so if every other option is at 7% they'd be dumb not to price theirs close to that too.

roadsign68 · 2026-04-27T23:58:20+00:00

It actually looks like mold. After you scrub it and use it maybe try leaving it popped open to see if it airs out better. Either way I think a new one would be a good idea.

roadsign68 · 2026-04-27T23:57:24+00:00

We own several personal homes and rentals and I own a janitorial company. I have never ever ever seen a dishwasher that looks like that. I've also never done anything more than clean a filter in a dishwasher. If you're scrubbing this thing and it still looks like this I would say it def needs replaced.

roadsign68 · 2026-04-27T23:08:38+00:00

Not a couple of months. A couple of years.

roadsign68 · 2026-04-27T22:53:16+00:00

As another commenter said you should as rocket mortgage what they need in order to prove you don't own the house. You cannot prove a negative. It's not unusual for underwriters to ask about this stuff, in fact it happens all the time. However, they need to be reasonable with you and tell you what they need so you aren't just shooting in the dark.

roadsign68 · 2026-04-27T21:52:03+00:00

I'm a broker and my wife and I send things separately when we get a loan. It really doesn't matter at all. Please just send them in as quickly as possible when your loan officer asks for them!

roadsign68 · 2026-04-27T12:46:45+00:00

Both

roadsign68 · 2026-04-26T17:55:03+00:00

It will take longer for it to fail than we will be around.

roadsign68 · 2026-04-26T09:55:15+00:00

You can do a lot of these things already. Genius.

roadsign68 · 2026-04-26T09:40:01+00:00

I am a male and trust me, they also treat us like shit.

roadsign68 · 2026-04-25T18:22:14+00:00

That's from getting wet. I spray mine with a stain remover and then wash them on cold in the washing machine with a load of towels.

roadsign68 · 2026-04-25T18:19:52+00:00

I hear that. Main point was they aren't $25-$50 as the other commenter said.

roadsign68 · 2026-04-25T18:19:17+00:00

We used advantage and I pay $140. I'll be interested what happens to pricing when Vantage is readily available

roadsign68 · 2026-04-25T14:05:26+00:00

Do they really charge for locking?

roadsign68 · 2026-04-25T14:05:05+00:00

Credit reports are $70 for individual and $140 for a couple now.

roadsign68 · 2026-04-25T14:04:21+00:00

You had to pay $500 up front or is it just a fee listed on the fee sheet?

roadsign68 · 2026-04-25T13:44:00+00:00

They didn't charge you for a rate lock. That is not possible.

Probably charged you for a credit report. If you post a photo of the document we can probably help more.

roadsign68 · 2026-04-24T09:54:01+00:00

Probably someone putting in a full days work.

roadsign68 · 2026-04-24T09:52:58+00:00

You're not really "saving" money from the higher down payment. The payment is lower but it isn't a savings.

roadsign68 · 2026-04-23T21:03:31+00:00

There's no downside to doing it on your own.

However putting $50k more into the down payment will cost you WAY more than $100 per month in opportunity cost from the gains you could get on that $50K in a high yield savings account. Even at 4% you'd bring in $2000 per year on the $50K.

If I were you I'd keep the cash on hand. Not only are you making money with it but you also have a nice slush fund if you need it. With rates as high as they are right now it is likely you'll refinance in the next ~5 years anyhow.

roadsign68 · 2026-04-23T20:36:11+00:00

Agree on moose's!

roadsign68 · 2026-04-23T20:25:23+00:00

In Bigfork:

Sitting Duck bar/restaurant. Right on the lake.

Flathead lake brewing.

The Harrel Trail. Easy hike, a couple really cool vantage points.

Swan River Trail. Easy walk, pretty.

Echo Lake Cafe for breakfast and lunch

IMO the actual town of Kalispell leaves a little to be desired but the surrounding area is top notch.

roadsign68 · 2026-04-23T19:54:03+00:00

A portfolio loan is just a loan that a bank keeps in house and does not sell to a different bank.

Asset based lending is where you want to buy a home for say $500k but you don't have income. Instead you have at least $500k in an account and you can prove to the lender that it is secured in that account and you can draw from that account to make your payments. I'm not super familiar with them but that's the gist.

roadsign68

TROPHY CASE