Investment property mortgage rates

[Brian Choi]

I’m currently rate shopping for the new construction that will be closed in 10 months in Florida. 

I’m getting 4.5% rate from the preferred lenders. However, I get ~3.5% from other lenders. The problem is other lenders can’t lock the rate for 10 months. Does this make sense for you if you go with the preferred lenders when there are others who can lender much lower rate? 

This is a conventional loan. 20% down.