Typical Finance Rates?

What kind of rates are currently you seeing for the following?

Seller Financing (I’m sure this varies)
Local Bank

Local bank New England region- I am closing next month at 4.25% (25 yr am / 20 yr term / fixed for 5 yr)


I was quoted the following rates for a $750k loan ($1MM purchase price) from a regional bank in central Illinois. This was back in mid -December but my lender mentioned they haven’t changed too much since then when I spoke to him a week or so ago.

25% down and 20 year amortization:
3 year balloon - 4.5%
5 year balloon - 4.75%
7 year balloon - 5%

Option to put only 20% down instead bumps the rates by 0.25%

I think these rates were somewhat high comparatively and have been seeing other potential buyers get quotes for rates and terms more in alignment with what westwart posted. Would definitely like to get a 25 year amortization instead of a 20 year.

I reached out to a broker yesterday and am waiting to hear back on quotes.


It does vary wildly. I sold one recently where the new owner had a local bank that would only go out 15 years. With the smaller deals you really have to shop around and if you find a good bank that is flexible and has good terms, keep a good relationship

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