Is interest rate on a conventional loan at 7.6%?

[Travis Reed]

I do not know much about lenders and brokers and how much rates vary between them. I called my local lender brokerage here in town and I asked what the going interest rate was for a conventional loan for a duplex (not owner occupied). He said that it was around 7.6% interest and 25% down. Does this seem in line with the market? I'm second guessing because I saw another post on here referencing 5%-6%. 

[Jay Hurst]

Quote from @Travis Reed:

I do not know much about lenders and brokers and how much rates vary between them. I called my local lender brokerage here in town and I asked what the going interest rate was for a conventional loan for a duplex (not owner occupied). He said that it was around 7.6% interest and 25% down. Does this seem in line with the market? I'm second guessing because I saw another post on here referencing 5%-6%. 

 @Travis Reed   The rate is just one piece of the puzzle. The rate might be ok, or it might be terrible depending on your credit score and also how much in points/discount/fees that quote is coming with.  The 25% down is required for all 2-4 unit non-owner occupied conventional loan. So, that will be the same no matter who the lender is. This is coming directly from Fannie Mae's website     Fannie loan to value chart

There are some options non conventional options that would only require 20% or even 15% however, the rates are higher and rarely worth the lower down payment.