Pr-approval rate seems high?

[Dan Hess]

Hi all

looking at our first property, $153k townhome that will cash flow where we want... 20% down conceptual mortgage.

The lender we were referred to has the most competitive rates in Tampa right now (we are told) and quoted us 5.625%. I expected higher than primary residence but isn’t this really, really high in today’s environment? We both have credit scores over 820, total income over $400k and a very low debt to income ratio.

Feedback would be appreciated! Dan

[Russell Brazil]

Should be more like 4.5%.