current interest rate for mortagage loans

[Yu Chen]

Hi, everyone

I'm just about to buy my first rental property, I've made a post earlier detailing my experience. I have a somewhat urgent matter currently. I have a lender that my turnkey property has recommended for the mortgage, they are quoting 5.625% interest rate for 20% down or 5% for 25% down for the property. The property itself is about $100k. I feel like that's a bit high as i have an ok credit score and pretty stead income, 690-700ish. can someone comment on the rate? Thank you!

[Michael P.]

Ask your mom for money at 3.5% hehe