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NYC Real estate, Can someone tell me what the rate is for a

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investment home for a NYC...
NYC Real estate, Can someone tell me what the rate is for a investment home for a NYC loan of 500k? is the rate negotiable with the lender? my lender wants 4.75% no points, fixed 30 years. Is that high or low? Thanks
Submitted: 3 months ago.Category: Legal
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7/28/2017
Lawyer: INFOLAWYER, Attorney replied 3 months ago
INFOLAWYER
INFOLAWYER, Attorney
Category: Legal
Satisfied Customers: 58,089
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Greetings! I am a legal expert on the site and am working on your question.The rates are variable but are closer to 3.75. I would negotiate or have a lawyer-mortgage broker do so for you. Shopping around and having banks bid for the loan is recommended.Kindly rate me five stars.
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Customer reply replied 3 months ago
hi can you show me a link where I can compare rates? thanks
Lawyer: INFOLAWYER, Attorney replied 3 months ago
Mortgage brokers run daily searches. You can also google bank rates in the state to get some estimates.
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Lawyer: INFOLAWYER, Attorney replied 3 months ago
If I can clarify or explain anything further, just ask me. kindly rate me 5 stars.
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Customer reply replied 3 months ago
can you tell me where you see 3.75? Ic an't find those
Lawyer: INFOLAWYER, Attorney replied 3 months ago
http://www.bankrate.com/new-york/mortgage-rates.aspx
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Customer reply replied 3 months ago
these are primary residence
Lawyer: INFOLAWYER, Attorney replied 3 months ago
Invesments loan rates come in around the same. A mortgage broker will be best suited to secure best rate!
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Customer reply replied 3 months ago
please show me the link to the investment loans. It is to my understanding a investment loan always comes in higher
Lawyer: INFOLAWYER, Attorney replied 3 months ago
Investment properties tend to carry higher rates.
http://www.visiolending.com/new-york-investment-property/
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Customer reply replied 3 months ago
ok...
Lawyer: INFOLAWYER, Attorney replied 3 months ago
If I can clarify or explain anything further, just ask me. kindly rate me 5 stars.
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Customer reply replied 3 months ago
you said investment loans comes in around the same rate and now you said it carry higher rates.
Lawyer: INFOLAWYER, Attorney replied 3 months ago
They do come in around the Same rate. These are rough estimates and move in both direction depending on candidate
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Lawyer: INFOLAWYER, Attorney replied 3 months ago
Some investment borrowers secure a rate closer to 4 and some residential closer to 5
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Lawyer: INFOLAWYER, Attorney replied 3 months ago
Most borrowers are best served having a mortgage broker check multiple current rates per borrower credentials and collateral.
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Customer reply replied 3 months ago
with all do respect I don't think your answer is making sense. Your saying they both come in the same rates and they also carry a higher rate.
Lawyer: INFOLAWYER, Attorney replied 3 months ago
As a general rule investment comes in higher than personal use residential but the difference is often bridged and am be erased depending the borrower history, credit score and collateral.
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INFOLAWYER
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