Can I Negotiate Investment Loan Terms?

[Frank S.]

Shopping for an investment loan.

• I have a property recently appraised at 134K.
• My purchase price is 90K.
• Will rent for 1,250/month
• My current credit score is 791 with TransUnion and 807 with Equifax. They were roughly 15 points higher but I think a recent hard hit inquiry lowered the number.
• My wife and I have a combined, established W-2 of 161K annually.
• No major debt except for my primary home, an escrowed mortgage of 1600/month.

Here are my top two options:

• 20-year note at 4.63% with 20% down
• 30-year note at 4.75% with 20% down

I'm leaning towards the 30-year note because I'm not concern about paying off the note faster with less interest but more concerned about getting a higher cash flow with the least amount of cash upfront.

CAN I GO BACK TO MY LENDER AND SOMEHOW NEGOTIATE A LOWER INTEREST RATE? Can I put my home or car as collateral, or is there any other unconventional ways to negotiate? Should I wait for the possibility of interest rates lowering in a week or two?

Thank you in advance for any and all advice or input!!!