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Real Estate Investing with Keith Weinhold



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Mortgage Rates Drop Full 1% For Income Property with Caeli Ridge

• 42 min

Learn how to qualify for an income property loan today. We discuss what just made mortgage interest rates for investment property drop 1% overnight. First, I discuss the difference between adequate safety vs. too much safety for tenants in investment properties. Too many safety regulations have a cost that gets passed onto tenants and even increases homelessness.  Caeli Ridge, President of Ridge Lending Group joins me. A few weeks ago, mortgage interest rates for income property fell a full 1% due to the suspension of added risk layers that were added back in March.  For an income property loan, you need: 1) 15-20% down payment and ~4% closing costs. 2) Credit score of 680 or better, 3) Show sourced & seasoned liquid assets, and 4) 50% maximum debt-to-income ratio.  There are pros and cons of paying monthly PMI. Today’s “typical” income property interest rate = 3.75%. What happens when you try to get more than 10 income property loans? We discuss the terms, called “non-QM” loans. Get started on your income property loan at: Resources mentioned: Get mortgage loans for investment property: Show Notes: JWB’s available Florida income property: eQRPs: text “EQRP” in ALL CAPS to 72000 or: By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel. New Const. Florida SFHs & multifamilies: Best Financial Education: Get our free, wealth-building “Don’t Quit Your Daydream Letter”: Top Properties & Providers: Follow us on Instagram: @getricheducation Keith’s personal Instagram: @keithweinhold

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