I'm trying to write offer letters myself for some property. One is a house, one is land. I want to make one of the contingencies based on getting a loan for <X%. They will be no doc loans. Anyone know what the "going interest rate" is for a no doc is on houses and property? There's a house FSBO here that is offering 6.5% 100% financing for a no doc loan, so I was thinking about putting <7% on the house.
I know when I called my mortgage company a few years ago, land interest was higher than the house.
I have a mortgage guy I can call but I don't want to go through him and the bank lady is already gone
