Is 5.6% too high on a 4plex investment mortgage in Montana?

[Josh Bloemendaal]

Hello all, I've got a fourplex under contract in Montana and have started shopping for a local lender. My wife is the primary borrower because she has a 75K nursing job and an 800 cred score. With 25% down and a 30 year the first lender offered 5.6 which seems very high no? I was expecting somewhere around 5% for a four unit investment prop. Am I crazy? We also own a VC duplex in CA (financed) as well as a studio in a NJ CO-OP rental outright. We also live rent/mortgage free. Not sure what the going rate is these days, I heard they recently went up but would love to hear some thoughts. 

Cheers 

Josh

[Russell Brazil]

5.5% is the right ballpark. Owner occupant loan rates are at about 4.5% right now. Rates have been climbing the last few months.