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Overheard a small landlord bragging about 5.5% on a 7 year fix last week
I was at a local REIA meetup in Portland and this guy with a 4 unit building said he locked in 5.5% on a 7 year term through a small credit union. My broker never even mentioned credit unions to me. I always just went with the big online lenders. Did anyone else find better rates just by shopping local banks or credit unions? I'm up for renewal on a 6 unit next month and want to know where to look.
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emmajackson11d ago
oh man, that stings doesn't it. I really feel for you on this one because the same thing happened to me a couple years back and I was so annoyed at myself for not thinking to check smaller places. it's honestly kinda crazy how the big online lenders just assume you know to look elsewhere too. like nobody tells you that credit unions can have way better terms if you just go sit down and talk to someone. hope you find a good deal on that 6 unit, it's super frustrating to feel like you left money on the table.
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