[quote=SD Realtor]The rates you quoted sounded on target early. You may want to also try aimloan.com. They are pretty competitive and I have used them for rentals in and out of state and they are located in San Diego.[/quote]
Thanks so much SD Realtor for that information.
That’s good to hear about the rates being on target.
One thing I forgot to mention in my post is the broker told me that if you put 25% vs. 20% or less the 0.75% premium for a condo goes away. So I thought that was interesting.
Something else I found interesting is he said that as long as you do a 15 year loan vs. a 30 year loan there is no real benefit to having a high FICO as long as it’s over the minimum 660 FICO score (Mine is 800).
SD Realtor, he also said that they will count 75% of the rental income towards the ratio. How do they come up with the actual potential rental prices?
I assume they just do a median estimate of rental prices based on the comps in the area? Is this the actual median prices based on what is currently on the market or does the inspector solely determine this?
