Extra high interest rate- buy or not?

[Amanda Black]

Hey all. The only loan I qualify for is a first time home buyer loan based on income statements (of my business). The interest rate is going to be really high, about 8-9.8%. I talked to my broker about refinancing in 2024, but based on what I’ve read, it’s not predicted to lower THAT much. 

Would this stop you from buying? This will be my first ever purchase, and my goal is for this to ultimately be an investment property. 

Thanks!!